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Skills Council on brink of closure, say reports

The Financial Services Skills Council has been threatened with closure after Whitehall found it to be incompetent, according to the Financial Times.

The FT says skills secretary John Denham is set to announce today that the Skills Council will have its bid for a new operating licence turned down.

The FSSC has been charged with developing the exam content required for advisers under the retail distribution review.

The FT says Whitehall is likely to give the council a stay of execution by allowing it to continue operating under its old licence until autumn, to give the body the chance to improve.

All 25 sector skills councils had to apply for new licences last year in order to continue receiving government funding after Whitehall found the performance of several to be lacking.

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