Stakeholders question FSA's 30-month qualifications deadline

The FSA is consulting on applying a deadline of 30 months during which an individual must pass all modules of an exam it prescribes. But the Association of IFAs (AIFA) is looking into whether the regulator requires special exemption from the Markets in Financial Instruments Directive (MiFID) before it can impose a time limit. If FSA proposals fall outside the scope of MiFID — a directive introduced in 2007 to “harmonise" the European investment market - it can apply for exemption, usually under article 4. The FSA's proposal differs from those of other regulators across Europe, whic...