Review of the FCA’s appropriate qualification exam standards - consultation
Last updated: 16 Sep 2016
- Consulting body:
- Financial Conduct Authority
- Period of consultation:
- Runs from 15 September 2016 to 13 December 2016
- CML action:
- Response submitted
The FCA issued a consultation on whether they should update the appropriate exam standards for qualifications listed in the Training and Competence sourcebook and introduce a standalone equity release qualification.
Our initial view was that the creation of a separate qualification for equity release products could be counter-productive, creating further advice silos which may not benefit consumers.
We welcome the review of qualification standards, but we have concerns that a standalone equity release qualification could create advice “silos” when older borrowers need a more holistic approach to retirement advice.
Download the full CML response to this consultation below.