FSA readies small team for adviser 'alert' task

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...