The FSA has reiterated qualifications gap-fill should be structured CPD, but it says reading 'suitable material' is acceptable where it is not available for specific knowledge gaps.
In yesterday's Policy Statement on professionalism, the regulator said while this will be allowed, it expects such cases to be for a minority of gaps, if any.
It will be the responsibility of accredited bodies to check advisers have completed their gap fill between now and the end of 2012.
Accredited bodies will have fresh supervisory responsibilities, alongside the FSA, to help monitor the retail investment advice sector.
Meanwhile, the regulator has provided a template it says "clearly shows" the knowledge gaps it wants advisers to check they have filled before 2013.
The template - in Appendix 7G of December's competence and ethics paper - enables advisers who do not hold a qualification that has been analysed for gaps, or who cannot access any of the gap-fill tools currently available, to record their gap-fill activities and present it to their chosen accredited body, the regulator says.
The aviation sector's constant evaluation of errors in order to improve safety should be applied to defined benefit (DB) schemes, as too many are repeating the same mistakes again and again, research has shown.
IA sectors – help or hindrance?
Despite multiple complaints
Annuity market worth £4bn in 2017
For ‘distress’ caused