The UK's four leading financial professional bodies have agreed to create a new independent board which will oversee, develop and ensure consistency in industry standards.
As part of the new ‘Edinburgh Declaration’, the Chartered Insurance Institute, Chartered Institute of Bankers in Scotland, Institute of Financial Planning and Securities & Investment Institute have agreed to create a new board – with an independent chairman – to sit above their respective organisations. The bodies believe the new declaration will raise consumer trust in financial services and alleviate the FSA’s concerns on professional standards raised in the RDR. Tackling the ‘alphabet soup’ problem is vital to improve the public's understanding and confidence in financial qualification...
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