The FCA has published Consultation Paper 16/24: Review of the FCA’s appropriate qualification exam standards (CP16/24). The purpose of CP16/24 is to update the FCA’s existing appropriate exam standards (AES) for appropriate qualifications listed in the FCA’s Training and Competence sourcebook (TC). The FCA’s main proposals are to:
- amend TC Appendix 4.1.1 to clarify how to read and use the appropriate qualification tables (see Appendix 2 to the CP16/24);
- update the current AES to ensure that the content continues to reflect the knowledge that individuals need to perform their roles competently (see Appendix 3 to the CP16/24); and
- seek views on a standalone equity release qualification.
The proposals do not change the FCA policy on appropriate qualification requirements, introduce new appropriate qualification requirements or change the level of achievement needed to meet the FCA rules on appropriate qualifications. The deadline for comments to the consultation is 13 December 2016. The FCA will publish its final rules in a policy statement after it has considered the feedback it receives.
View FCA consults on updating exam standards, 13 September 2016