RDR paper: Independent gap-fill knowledge tests ruled out

Scott Sinclair
clock

An independent test to establish the knowledge gained by advisers carrying out qualifications gap-fill before 2013 has been ruled out by the FSA.

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...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Your profession

Advice firms target 17% average growth amid tech and productivity challenges

Advice firms target 17% average growth amid tech and productivity challenges

Research from Owen James reveals

Sophia Panayi
clock 01 July 2026 • 2 min read
Clifton Wealth Partnership snaps up Suffolk financial planning firm

Clifton Wealth Partnership snaps up Suffolk financial planning firm

Brings total AUM to £4bn

Sophia Panayi
clock 01 July 2026 • 2 min read
Lib Dem MP presents Child Savings Account Bill to House of Commons

Lib Dem MP presents Child Savings Account Bill to House of Commons

John Milne’s bill passes for second reading in 2027 under Ten Minute Rule

Sophia Panayi
clock 01 July 2026 • 3 min read