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FSA consults on giving accredited body status to ICAEW and PMI

The FSA is consulting on whether to award accredited body status to the Institute of Chartered Accountants in England and Wales and the Pensions Management Institute.

In the RDR professionalism paper, published in January, the regulator announced there would be an enhanced role for accredited bodies and it set out how bodies could apply for accredited status.

The paper stated accredited bodies would need to show it would act in the public’s interest, carry out effective verification services., have suitable systems and controls in place and to cooperate with the FSA regularly.

So far the regulator has awarded accreditation status to the CFA Society of the UK, the Chartered Institute for Securities and Investment, the Chartered Institute of Bankers in Scotland, the Chartered insurance Institute, the Institute of Financial Planning and the Institute of Financial Services.

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