IFAs tell FSA 'don't set bar at Chartered Status'

He said: “There is considerable support from you for higher minimum standards and enforceable codes of ethics. “However, you have also told us not to set the qualifications bar as high as the equivalent of Chartered status because of the potential for this to strip out significant market capacity; to take a balanced view of knowledge, skills and experience in measuring competence; and to make sure that we allow sufficient time for the industry to transition to higher minimum standards.” He also sought to reassure IFAs who run “niche” businesses that the regulator was aware of their fear...