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Exam review by end of year

The FSA has calmed IFA fears that its review of approved examinations has been put on a back burner by stating that no deadline was set for the consultation.

When plans for the review were originally unveiled by FSA chairman Howard Davies in November last year, Davies said the review of financial sector exams would start this month.

Describing the current exam regime as unwieldy, inconsistent and confusing, Davies said it was a situation the regulator “did not wish to live with long”.

But FSA head of industry training David Jackman has told Money Marketing that the review has no deadline and there will be a consultation “before the end of the year”.

Syndaxi director Robert Reid says: “I am surprised after hearing such statements that the promised examination review has now slipped from the agenda.”

Wentworth Rose managing director Philip Rose says: “From the point of view of making the jump to AFPC compulsory, we are grateful, but we like to see some progress on exams so we have enough warning if this sort of compulsion is introduced.”

Maddisons Monetary Management managing director Mark Howard says: “This is one thing we should take on ourselves. It is in the interest of the industry to be proactive on raising standards.”

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