FSA alarmed by 'weak' gap-fill progress

Nicola Brittain
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The Financial Services Authority (FSA) has voiced concerns about advisers' gap-fill progress ahead of RDR implementation at the end of the year.

Research conducted by the regulator suggests that less than 40% of those identified as needing to complete gap-fill activity have done so. With fewer than nine months to go until RDR rules are rolled out, the FSA's figures suggest 39% of the 67% who require gap-fill have completed it, while 19% have yet to start. More than four-in-ten (42%) have begun the process but still have more to do, according to the data. One of the RDR's requirements is for every retail investment adviser to have a miniumum qualification level measured at QCF Level 4. Advisers who already had a Level 4 q...

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