Simplified advice likely to remain level four - FSA

It follows the publication of the Professional Standards Advisory Group's (PSAG's) final standards for the core units of RDR-compliant level four qualifications. As FSA proposals stand, unqualified advisers who want to offer simplified advice will need to demonstrate knowledge of the impact of the EU on UK regulation and the workings of hedge funds, among other things, when they take their exams. In June's RDR Feedback Statement, the FSA said it was aware of a number of firms interested in offering "some form" of simplified advice process. But it said the same professional standard...