Pension transfer specialists must be Level 4-qualified by Oct 2020 - FCA

Two years 'sufficient' for study

Tom Ellis
clock • 2 min read

Pension transfer specialists will be obliged to hold the Level 4 qualification for providing advice on investments by October 2020, the Financial Conduct Authority (FCA) has confirmed.

In its policy statement PS 18/20, published on Thursday (4 October), the financial watchdog said it was going to go ahead with its proposals to force transfer specialists to hold the separate Level 4 investment advice qualification. The watchdog said most respondents to its consultation on the new rules agreed with its proposals, with many people acknowledging pension transfer specialists already held the Level 4 qualification anyway. It said only one respondent to its consultation thought it unnecessary to force transfer specialists to hold the additional certificate. The regulator s...

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

FCA commits to fast authorisations to boost finance sector

FCA commits to fast authorisations to boost finance sector

The regulator’s latest business plan highlights this focus

Sahar Nazir
clock 19 March 2024 • 1 min read
FCA to invest £1.9m in supporting clients with investment decisions

FCA to invest £1.9m in supporting clients with investment decisions

The regulator’s 2024/25 business plan outlines new initiative for investment

Sahar Nazir
clock 19 March 2024 • 1 min read
FCA's Rathi: Fair value is not 'Trojan horse' for price regulation

FCA's Rathi: Fair value is not 'Trojan horse' for price regulation

'Move away from prescriptive rules, beloved of compliance consultants’

Jenna Brown
clock 14 March 2024 • 4 min read