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FCA Publishes Its Response To Appropriate Qualifications Consultation
Compliance

The FCA has published a Policy Statement, PS17/11, following its consultation about Appropriate Qualifications CP16/24. While this was mainly aimed at Accreditation Bodies you should be aware there are some minor changes to the TC Appendices.

One of the areas consulted on was the possibility of changing the Equity Release qualification. However, based on replies received, the FCA has decided that there is no market need for a change to the appropriate qualification for equity release.

In addition to the above, the FCA does have a best practice page on its website for recruiting, training and supervising staff.  We recommend T&C supervisors familiarise themselves with this page.  

Don’t forget to check Our View about this article and the Actions Required By You

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Important Note: ATEB news is intended to provide general information ONLY. The content, including any views expressed or guidance provided, does not replace the need to comply fully with FCA Rules and Guidance. Unless you have discussed news article content with ATEB, and specifically how it relates to your circumstances, then ATEB disclaims all liability and responsibility and actions arising from any reliance placed upon it. For the avoidance of doubt therefore, any reliance you place on such information without our consultation is at your own risk.

ATEB Compliance offers compliance and regulatory advice.

ATEB Suitability provides report writing software for the financial services market.

Our View

There are minimal changes following the consultation period but relevant T&C supervisors need to be aware they need to review appropriate qualifications tables when considering adviser and firm requirements.

Action Required By You

  • Be aware of the need to review TC qualification pages before discussing qualifications with staff;
  • T&C supervisors should review the recruiting, training and supervising staff page.

ATEB clients should speak with their account manager as necessary; otherwise contact ATEB here to find out how we can help.

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About the Author

Alistair MacDougall

Technical Manager - Often referred to as the Oracle or the Sage, Alistair has a wealth of financial services experience. He is our go-to Technical Manager and enjoys nothing more than a complicated conundrum. Feel free to test his renowned knowledge by getting in touch.

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