The Financial Services Skills Council is launching a consultation to gauge the level of industry interest for an 'endorsement of training and competence' scheme.
It follows the Financial Services Authority's (FSA) consultation paper on the T&C sourcebook last month, in which the regulator suggested the quality of advice delivered to retail consumers is not good enough to warrant removing all prescriptive rules of the T&C regime.
The FSSC is considering an endorsement of T&C schemes as a potential FSA-recognised industry solution to meet the principles-based approach to regulation.
It says the scheme could be combined with a new FSSC endorsement of in-house exams and relevant qualifications from its appropriate exams list.
If the proposed scheme goes ahead, it will become one of the FSSC’s suite of accreditation and recognition schemes designed to show where firms, training providers and individual trainers have achieved excellence in training.
The design of the scheme will be discussed at an employer consultation event on 26 March.
If you have any comments you would like to add to this story or would like to speak to its author about a similar subject, telephone Emily Perryman on 020 7034 2680 or email [email protected].IFAonline
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