RDR paper: FSA database to identify 'high risk' advisers

In today's Policy Statement PS11/01, the FSA says it will require firms to provide data about individual advisers' professional standards which will underpin a new database identifying those advisers which pose the highest risk. Additional information on advisers will be gathered from alerts provided by firms, accredited bodies, whistle blowing, and other data. A new individual adviser supervisory function will then filter the information and data gleaned from the database. The new plans will see an increase in emphasis on how firms monitor and record the activities of individual a...