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Skills council 90% confident of relicencing success

Financial Services Skills Council interim chief executive Liz Field says the development of the QCF level four exam standards is ahead of schedule and she is 90 per cent sure the council will be relicenced in March.

In an interview with Money Marketing, Field says the FSSC will have the RDR-compliant standards completed by the end of March, despite continued uncertainty about the outcome of its relicencing bid.

She says: “We will hopefully have a decision on the relicencing by early March, but it has been business as usual in the meantime and we are ahead of schedule in terms of the QCF level four qualification.

“At the end of March we will publish the specialist standards and hopefully they will all be signed off and we can then give those to the awarding bodies so they can base their qualifications on those exam standards.”

Field says she is “supremely confident” about the FSSC’s relicencing bid.

She says: “We’ve already started doing the work that we said we were going to do in the absence of a relicencing decision, so we’re getting on with it. The fact that we are ahead of time on the RDR work is strength to our bow so I’m very confident that we’ll get the relicencing decision that we need now.

“I’d like to say I’m 100 per cent certain, but I’d like to see it in writing before I open up the champagne. I think there is a 90 per cent surety that we’ve got this right. We are an employer-led body, employers have said what they want and we’re delivering what they want, so we are meeting all the criteria.”

In October Money Marketing revealed that all staff at the FSSC had been put on a 30-day consultation.

Field confirmed that two employees out of 37 were made redundant in the first round of staff consultation. The second stage will begin after a licencing decision has been made.


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There are 5 comments at the moment, we would love to hear your opinion too.

  1. Incompetent Regulators Awards Team 19th January 2010 at 10:18 am



    FSA, FOS AND FSCS have virtually none bewteen them all………..zzzzzzzzzzzzz

  2. Comforting to know that another quango can afford champagne.

  3. “It is hard to imagine a more stupid or more dangerous way of making decisions than by putting those decisions in the hands of people who pay no price for being wrong.”

    “Much of the social history of the Western world, over the past three decades, has been a history of replacing what worked with what sounded good.”

    “The most basic question is not what is best, but who shall decide what is best.”

    “People who have time on their hands will inevitably waste the time of people who have work to do.”

    “You will never understand bureaucracies until you understand that for bureaucrats procedure is everything and outcomes are nothing.”

    Quotes: Thomas Sowell

  4. The FSSC is an employer-led organization and the employers have said what they want, according to this woman.

    Who are the employers ? Who cares what they want ? I thought RDR and all the other tosh was about protecting the consumer and improving outcomes for Joe public. Has anyone in FSSC, the FSA or any of the other quangos reflected on whether all the changes are likely to bring about improvements for Joe public (Which ? magazine had better hope not because if, after all these changes, Joe public is assured of first class advice, first class products and first class service, all at virtually nil cost, Which ? won’t have anything to write about).

  5. Question for Liz Fields – what qualifications for doing her job does she bring to the table ?

    I have 2 degrees plus a whole host of CII exams under my belt but still believe that you can be a good adviser without having an array of qualifications. Common sense and honesty are far more important than being able to recite all the rules and other out-pourings from the regulator – and much of what has to be learned today is simply rules, rules and more rules.

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