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

ATEB compliance - page curl2

New online fees portal

Compliance , ,

The FCA is launching a new online invoicing portal on 12 April 2021 for users to access their invoices and arrange payment of their fees. Firms should continue using the existing invoicing online portal for now but this will no longer be available after 31 March 2021. There will be no portal available until 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

Directory Persons Data

Compliance , , , , , , , ,

The FCA has been writing to some firms recently with an ‘ACT NOW’ message, stating: “We are writing to you today because our analysis shows you have individuals within your firm who would fit the definition of a Directory Person, but you have not yet submitted any Directory Persons data for your firm. Solo-regulated firms must […]

Read More
protection

Financial protection post-BREXIT

Compliance , , , , , , , , ,

In December 2020, we reminded readers about the expected changes to FSCS protection after the EU withdrawal period ended on 31 December. You can read that article here. The transition did end when expected and with last minute agreement on a trade deal, which was not so certain. However, the agreement did not cover financial […]

Read More
Conclusion word formed from lettered yellow tiles

FCA Defined Benefit Advice Assessment Tool (DBAAT)

Compliance , , , , , , , , , , ,

You may well have seen reports that the FCA recently published its Defined Benefit Advice Assessment Tool (DBAAT). This is the tool that the FCA has been using as part of the ongoing review of firms providing transfer advice. At launch, the FCA stated: “We published the DBAAT to help firms and pension transfer specialists […]

Read More
Regulatory Change

Minimum Pension Age Regulatory Change in ATEB Suitability

Suitability , , , , , , ,

Following the release of a consultation paper on 10th February 2021 by HM Treasury, we have now added a ‘Proposed changes to Normal Minimum Pension Age (NMPA)’ section within the ‘Retirement Advice’ page of the main Suitability Report template. This includes a standard text option, pre-ticked for inclusion in all retirement advice reports, informing clients […]

Read More
Load More