Menu
FCA Publishes Its Response To Appropriate Qualifications Consultation

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

FCA Publishes Its Response To Appropriate Qualifications Consultation

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.

SUIT - Beautiful Reports
CREATE BEAUTIFUL
SUITABILITY
REPORTS
TRY IT FOR FREE
SUIT - Complete Control
TAKE BACK
CONTROL OF YOUR
SUITABILITY REPORT
PRODUCTION
TRY IT FOR FREE
SUIT - Comp confidence
SUITABILITY
REPORTS
WITH FULL
COMPLIANCE
CONFIDENCE
TRY IT FOR FREE
previous arrow
next arrow

About the Author

Contact Us

Brought to you by

Explore more articles in this category

Other articles that you might be interested in

https---s3-eu-west-1.amazonaws.com-fta-ez-prod-ez-images-5-2-0-7-1217025-1-eng-GB-FCA2.JPG?v1

FCA Survey – problem question

Compliance ,

We wrote recently about the latest FCA survey. This is mandatory and some firms have been querying how to answer one of the questions.   The question asks – What are your estimated cash needs (fixed costs, known variable costs) and expected cash inflows between 1 March and 31 May 2022? (GBP) Please report the […]

Read More
https---s3-eu-west-1.amazonaws.com-fta-ez-prod-ez-images-5-2-0-7-1217025-1-eng-GB-FCA2.JPG?v1

FCA survey number 7 – Tranche 2 firms

Compliance , , , , , , ,

The FCA has advised as follows in relation to Tranche 2 firms (see definition list below).     “Many of you will be aware that we issued the first phase of the Covid-19 Impact Survey in June-August 2020, covering around 23,500 firms. Since then, we have repeated this survey five more times. The survey has […]

Read More
https---s3-eu-west-1.amazonaws.com-fta-ez-prod-ez-images-5-2-0-7-1217025-1-eng-GB-FCA2.JPG?v1

FCA Covid-19 Impact Survey – number 7!

Compliance , , , , , ,

The FCA has advised the following.     “We issued the first phase of the Covid-19 Impact Survey in June-August 2020, covering around 23,500 firms. Since then, we have repeated this survey five more times. The survey has helped us obtain an accurate view of the impact of Covid-19 and supported our work to mitigate […]

Read More
suit_bkd_may22

Trustee & Power Of Attorney As Client + Additional Wording Options

Suitability , , , , , , ,

We have completed the latest upgrade to ATEB Suitability on 22nd May 2022. This update comes at no additional cost and provides firms with the ability to write suitability reports and letters to Trust/Trustee(s) and Power of Attorney(s) as client. Full details of the enhancements can be found in the tables below, but some of […]

Read More
Expectations

FCA – new power to vary or cancel permissions

Compliance , ,

The FCA can now vary or cancel permissions more quickly than previously applied.     What is changing  The  FCA now has an additional power, which enables quicker action to: vary or cancel the statutory permissions to conduct FCA-regulated activities of many FCA-authorised firms, where those firms: appear to be carrying on no FCA-regulated activities for which they have permission, and […]

Read More
Load More