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Jackman wins battle at FSA to save T&C review

The FSA is publishing a consultation paper before the end of November detailing its plans for new IFA training and competence standards, according to head of industry training David Jackman.

Jackman said last week that a paper outlining the FSA&#39s preference for regime change, first outlined nearly a year ago, would be finished by the end of next month.

The announcement comes despite recent industry speculation that the exam review had been put on the backburner as a result of CP121 and the Sandler review.

Industry sources say they believe Jackman has won a rearguard action at the FSA to save the review.

The initial proposals in FSA discussion paper nine, published last September, called for annual or biennial exams for advisers and a new core package of exams with satellite papers for speciality areas.

It also called for the scrapping of designatory letters in an effort to cut down on the so-called alphabet soup, replacing them with a single standard recognisable to consumers.

The FSA responded to the discussion paper in May and at the time it was thought a consultation paper would be out in September, with changes in place by next July.

However, in August, it was reported that the matter had been delayed indefinitely.

FSA spokeswoman Kate Bristowe says: “The plan is to issue it towards the end of November.

“I will not comment on the details of a consultation paper before we publish it nor will I comment on the implementation of the new regime.”

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