FSA readies small team for adviser 'alert' task

Scott Sinclair
clock

The FSA has assembled a small team to process warning ‘alerts' from firms about their individual advisers as it pushes ahead with its data and supervision plans.

From July, firms will be obliged to inform the FSA of any issues arising about their intermediaries as the regulator seeks to "build a picture" of individuals to feed its post-2012 supervisory work. The FSA has set up what it calls an ‘individual adviser supervisory function', which will work closely with firm supervisors. It says although many firms currently monitor their advisers, it is concerned they only have access to a "partial picture" of their employees. FSA head of investment policy Peter Smith told IFAonline the regulator's existing "small" team may have to be revised de...

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 Regulation

FOS reveals next phase of reforms

FOS reveals next phase of reforms

Including new powers to dismiss certain cases

Isabel Baxter
clock 11 August 2026 • 3 min read
Court sets trial date in illegal financial promotions case

Court sets trial date in illegal financial promotions case

Lucy Beck pleads not guilty

Sophia Panayi
clock 31 July 2026 • 1 min read
FCA flags weak customer outcome focus in firms' monitoring frameworks

FCA flags weak customer outcome focus in firms' monitoring frameworks

Consumer Duty review found inconsistent governance and oversight

Sophia Panayi
clock 27 July 2026 • 2 min read