FCA Publishes Its Response To Appropriate Qualifications Consultation

24 May 2017 Alistair MacDougallCompliance

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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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.

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