The FSA has reiterated qualifications gap-fill should be structured CPD, but it says reading 'suitable material' is acceptable where it is not available for specific knowledge gaps.
In yesterday's Policy Statement on professionalism, the regulator said while this will be allowed, it expects such cases to be for a minority of gaps, if any. It will be the responsibility of accredited bodies to check advisers have completed their gap fill between now and the end of 2012. Accredited bodies will have fresh supervisory responsibilities, alongside the FSA, to help monitor the retail investment advice sector. The FSA expects a number of professional bodies to apply for accredited status, with the IFP and CISI already confirming their interest. Meanwhile, the regula...
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