The FSA is consulting with the industry on whether to include the Institute of Chartered Accountants in England and Wales and the Pensions Management Institute as accredited bodies.
The regulator said it had assessed their applications and intends to confer accredited status.
However, as they would be new additions to the Handbook, the FSA must consult. This gives stakeholders the opportunity to comment on whether they believe the bodies meet the FSA's requirements to:
•act in the public interest and further the development of the profession;
• carry out effective verification services;
• have appropriate systems and controls in place and provide evidence to us of their
continuing effectiveness; and
• cooperate with us on an ongoing basis.
Accredited bodies will play an enhanced role in supervising and enforcing professional standards for advisers under the retail distribution review (RDR). They will be responsible for issuing Statements of Professional Standing (SPS).
Responses to the consultation paper should reach the FSA by 9 December.
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