The FSA proposes a system of co-operation between the regulator and accredited bodies to ensure advisers are meeting its professionalism standards post-RDR.
It recognises trying to separate issues when the FSA would take action and those where a third party body should act is "particularly difficult". It says: "Although it is possible to set out examples, the reasons for the issue, the seriousness, the adviser's track record and the involvement or not of the firm will all influence our view on the need for our intervention." "On becoming aware of an issue, we will decide what action we should take. For example, we may act where there are wider issues at the adviser's firm, and/or an appropriate action would be to prohibit the individua...
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