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Skills council consults on compliance levels

The Financial Services Skills Council is consulting on compliance standards for staff working in compliance and money- laundering prevention.

It will be seeking views on its new draft industry performance standards for compliance and money-laundering prevention roles. Together with the International Compliance Association, the FSSC has been working with employers and practitioners over the last year to develop the draft standards.

The objectives of the consultation process include establishing the acceptability of industry standards for compliance and money laundering prevention to employers and assessing demand for qualifications for compliance and money laundering prevention.

The consultation period ends on Tuesday 31 May, and the new standards are expected to come into force by mid-August.

Standards and accreditation director Lucy Courtenay says: “Compliance issues are under the spotlight as never before. These new standards are vital to ensure that financial serv- ices staff are equipped with the necessary skills to carry out these crucial job functions in an increasingly complex regulatory environment.”

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