The FSA has announced plans to significantly beef up its Training and Competence (TC) regime, including imposing a 30 month deadline for individuals to complete all modules of qualifications required for their role.
It also plans to review non-RDR related exams standards in areas including mortgages, insurance and corporate finance, as part of wider proposals to tackle ‘competence failings' found in some firms. The plans, included in today's CP10/12 Competence and ethics paper, will see the removal of some transitional provisions which allow individuals to operate without formal qualifications, due to arrangements under their previous regulator. These arrangements will now be scrapped and a thirty month deadline imposed which will also apply to all activities within the TC source book. Its de...
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