New FSA examination regime proposal

The FSA is carrying out a review of the examination standards and qualifications required for individuals performing regulated activities.

As part of this review, the FSA is proposing that individuals who advise clients and manage investments should be assessed on additional knowledge; ‘personal taxation’ and ‘investment principles and risk’. Changes could also be made to include content on funds of alternative investment funds, with reference to the Alternative Investment Fund Managers Directive.

If these changes are made, examination standards will only be applicable to those who are new to the industry. Continuing Professional Development will be the method for which existing investment managers can keep up-to-date with this new standard.

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