FSA confirms qualifications deadline for approved persons

The time limit, which comes into force from 1 January next year, applies to all approved persons. Retail investment advisers remain subject to the current RDR proposals to achieve QCF Level 4 in a relevant qualification by 1 January 2013. Today's policy statement affects mortgage brokers, pension transfer specialists and equity release advisers. The rules are part of the FSA's bid to significantly beef up its Training and Competence (TC) regime. All employees at regulated firms "should be required to be competent and should pass qualifications due to the link between competence ...