The FSA is considering providing staging posts for firms to indicate how much progress they have made in the transition to be RDR-compliant, but not until Q3 next year.
In last week's consultation paper Delivering the RDR, the regulator says firms should now have a clear idea of which qualifications advisers need to obtain to meet its QCF level four requirements.
It said businesses should also have a plan in place for their unqualified practitioners so they will comply with the end of 2012 deadline.
Most national and network propositions say only about half of their adviser force has so far reached the level four minimum.
The FSA says it wants to hear from firms whether staging posts would be helpful and if they should include ‘posts' for the transition to adviser charging as well as for qualifications. "We do think there is merit in this," an FSA spokesman says.
It follows proposals for changing the definition of an ‘existing' adviser, effectively giving trainee practitioners an extended deadline - beyond the end of 2012 - to reach QCF level four.
The FSA proposes are still subject to the level four requirement, but not to the end-2012 deadline.
Under its current TC requirements, investment advisers who do not fall under its definition of 'existing' are required to pass the regulatory module of an appropriate examination before they can see a customer under supervision.
To be deemed competent by their employer the individual is also subject to any criteria set by that employer for achieving the remaining modules of the appropriate examination within a certain period or number of attempts.
But the FSA says it intends any individual who does not fall under the definition of 'existing adviser' should be subject to a back stop date.
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