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.
FCA provide guidance on SMF16/17 appointments
Richard Foster Compliance FCA, ML, PI, training
Firms should have heads of compliance and money laundering reporting officers (MLROs) who are suitably competent and capable of effectively performing the roles. It is appropriate to carefully consider how individuals can demonstrate this ahead of seeking regulatory approval. The FCA have recently issued guidance which should help firms decide if an individual candidate is […]