RDR paper: Independent gap-fill knowledge tests ruled out

In today's Policy Statement on its RDR professionalism rules, the regulator says that would be inconsistent with its 'no regrets' approach, under which advisers who hold a relevant QCF Level 4 qualification will not be required to sit further exams. Today the regulator confirms accredited bodies will instead be responsible for ensuring advisers have completed gap fill. It will also be up to them to decide the basis on which they want to check advisers' gap-fill activity. How the FSA determines whether individual retail investment advisers are keeping up to date with knowledge has b...