Sesame Bankhall Group has all but ruled itself out of applying to become an accredited body under the FSA's new professionalism regime.
It had been tipped to apply due to its size and model as a combined network, support services provider and mortgage club.
"It is unlikely that we will be applying to become an accredited body, however we will be analysing the FSA's professionalism Policy Statement in detail before making a final decision," a spokesman says.
The FSA last week confirmed it will hand extra supervisory responsibilities to bodies it accredits after deciding against establishing an independent professional standards board.
Accredited bodies must check that all advisers who use their services hold a relevant RDR qualification, including any gap-fill, and that they undergo appropriate CPD.
They will also be responsible for issuing advisers with a Statement of Professional Standing (SPS), which the FSA hopes will provide "evidence" to consumers of advisers' professionalism. Accredited bodies will have the power to remove individuals' SPSs.
The Institute of Financial Planning and Chartered Institute for Securities & Investment have already confirmed they will apply for accredited status. The FSA says it expects professional bodies to apply.
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