View more on these topics

CII calls for a common approach to qualifications

The CII has called on the industry to streamline the structure of financial services qualifications.

In its second response paper to the RDR debate, the Institute proposes to overcome the “lack of a simple standard framework for qualifications”, which it says is a major barrier to improving professionalism in financial services.

The CII says that qualifications should be simplified so they can be easily recognised and trusted by both consumers and employers alike.

CII chief executive Sandy Scott says: “This initiative is a response to industry and consumer concerns that financial services, unlike other professions, have confusing and complex qualifications. We are not suggesting a single awarding or professional body, rather an agreed framework of qualifications that would be applicable to all. This would work in much the same way as the GCSE and A-level qualifications are standardised across the range of examining bodies that offer them in the UK.

“This is also an area where the industry itself, not the regulator, can develop a solution. We hope this set of ideas will be favourably received in industry circles where I know there is strong support for awarding bodies working constructively together to achieve clarity and simplicity in the public interest. It would be a clear signal that the financial services industry is sorting out its own problems.”

Recommended

PBR: Fidelity says CGT changes are a “shot in the arm” for long-term savings

Fidelity says the Chancellor’s decision to set capital gains tax at a flat rate of 18 per cent means investors in equity funds are big winners and says this move could boost long-term savings.Chancellor Darling set out the changes in his pre-Budget report yesterday and Fidelity says investors in equity funds held outside of a […]

Climate change could sweep the world

With the pre-Budget report announcing further steps to tackle climate change it appears that Schroders, F&C and Jupiter have all timed their respective launches almost to perfection.

The factory factor

Andy Curran, director of intermediated distribution at Prudential believes that a move to factorygate pricing can bring a major boost for adviser businesses

Globe - thumbnail

Considerations for overseas workers in Germany

With Germany’s strong economic growth leading the eurozone’s recovery, many UK businesses are keen to be part of the success story: recent data shows that there are currently more than 280,000* employees working for a UK-controlled company in the country.

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment