Should we fear dual regulation post-RDR?

Since the FSA confirmed in January this year – in Policy Statement 11/1 – that Statements of Professional Standing (SPS) would be issued by accredited bodies, those organisations that have applied for accredited body status will have been interpreting what their regulatory responsibilities are going to be by gearing up their processes, procedures and controls. These new found responsibilities in the form of FSA oversight will place the onus on the accredited body to define its own standards and requirements while ensuring the minimum FSA requirements are met, to enable advisers to obtain...