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FSA&#39s exam review is put on hold over Skills Council list

The exam review has suffered yet another setback, with the FSA telling the industry that it is putting its development on hold until the Skills Council comes up with a list of acceptable exams for IFAs to select from.

The FSA is still bent on moving from an “approved” exam regime to an “appropriate” regime, with companies responsible for deciding which qualifications are necessary for their staff but this move has been delayed.

At a private meeting in December, manager for industry training Sarah Thwaites told industry leaders that the FSA will not activate its proposed changes to exams until it is confident that the Skills Council has come up with an adequate specification for exams.

It is believed that the further delay on the part of the Skills Council stems from the decision in December by director David Jackman, the driving force behind the agenda, to leave the Skills Council.

LIA head of public affairs John Ellis says the industry can expect a cascade of failing deadlines over the next year.

He says despite three years of work on revising the training & competence regime, there are still no firm details available as to what the new format will be.

FSA spokeswoman Kate Bristowe says: “We are in full support of the Skills Council and are assuming we will move ahead as soon as it is ready.”

Ellis says: “This is a mess against the background of Jackman leaving. The Skills Council is still bogged down in discussions of syllabus and nowhere near a definite list of exams.”


Rights and wrongs

There is no doubt that the Financial Services and Markets Act gives the FSA strong powers. Whether those powers are so Draconian that the European Court decides they breach the IFA&#39s human rights can only be tested by legal challenge.If FSMA is overturned, the way that the IFA works would be changed for ever -no […]

Consumers&#39 Association head McKechnie dies

Consumers&#39 Association director Dame Sheila McKechnie has died of cancer after a long period of illness. McKechnie, who died at the age of 55, had lived with cancer since 1997. She joined the Consumers&#39 Association in 1995 after a nine-year spell as director of housing charity Shelter. In 2001 she was made president of the […]

Platform appoints new business development manager

Platform has appointed James Higgs as a business development manager covering the south west region. He joins Platform after eight years at Cheltenham & Gloucester where for the past two years he worked as a mortgage development representative. Head of sales Jeremy Duncombe says: “We are really pleased to welcome James to the Platform team. […]

Aegon widens IFA reach with Aurora deal

Aegon UK has further extended its reach into the IFA world, buying up all of Kent-based Aurora Financial Group.The firm already owned a 9 per cent stake in Aurora which it bought last January but in a deal sealed this week, it has bought out the whole company. It already has majority holdings in five […]

Choose life…

Sarah Scott  – Marketing Consultant, Royal London  This month sees the return of Renton, Sickboy, Begbie and Spud in the sequel to the film Trainspotting. Just over 20 years later, we return to see exactly how life treated the characters whose lifestyle was less than ideal back in 1996. Did they choose a job, choose […]


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