PS04/10: FSA confirms shift to 'appropriate' exams

Latest policy statement from the FSA on amendments to the Training and Competence Sourcebook – PS04/10 – says financial services firms be able to cut the amount of time they have to hold certain Training and Competence records if they wish to. From May, firms will only need to keep T&C records for three years after an individual has stopped carrying out that particular role, rather than hold onto documents until three years after the individual has left the company. That said, all pension transfer documents must continue to be retained indefinitely from 1 May 2004, when the first stag...