The ways in which this will be tested are as yet unclear, as is the period of time that advisers will have to get qualified, although the received wisdom is three or four years.
The latest utterance from the FSA is that because it does not know what the end state is, it cannot give any indication of how long advisers will have.
However, admittedly more on instinct than on evidence, Money Marketing is concerned about the lack of infrastructure.
We are not yet convinced that the training and professional bodies will be able to cope with a possible bottleneck. The situation could be exacerbated by many mortgage brokers transforming into IFAs if the mortgage market continues in the doldrums.
No doubt, the FSA, in its new listening mode, would look at such a situation sympathetically. But nonetheless, Money Marketing is publicly challenging the professional bodies to show clearly how they can cope with the expected qualifications overhaul and to demonstrate how they will avoid a logjam.