SII and IMA exam tests investment basics

It says the Financial Services Authority’s (FSA) decision to move towards a principles-based Training and Competence regime, as proposed in consultation paper CP07/04 'The Training and Competence Sourcebook Review', should not mean standards are allowed to drop. Although the consultation, which closes on 23 May 2007, suggests the new regime should be founded on high-level rules and guidance, it will still retain exam requirements for retail business, which the FSA says “are seen as essential to protect consumers”. As a result the IMA and the SII says while the existing obligation for ma...