Professional bodies accredited by the FSA to check advisers' qualifications and CPD will not have the power to regulate individuals, the watchdog says.
In its latest consultation paper on professionalism CP10/14, the FSA proposes giving trade bodies the authority to monitor advisers' professional standards, and award a Statement of Professional Standing (SPS) to individuals who meet the criteria. The SPS, which will detail advisers' qualifications, CPD, standards of ethics, and a link to the FSA register for consumers, will be mandatory for advisers to be able to practice. However, manager of the FSA's professional standards policy team, Katharine Leaman, says the extension of powers awarded to accredited bodies will not include the ...
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