Advisers granted extra year to sit qualifying exams
The UK Financial Conduct Authority (FCA) confirmed today it would not take action against any advice firm where an employee was delayed in gaining a professional qualification because exams were postponed or cancelled during the covid-19 induced lockdown.
The UK financial regulator said via its website today: "During the period linked to the emergency, we still require firms to ensure that all employees have the skills, knowledge and expertise needed to discharge their responsibilities.
"However, we have no intention of taking action against a firm or accountable individual that is not able to ensure that an employee has attained an appropriate qualification within the required 48 months because the relevant examinations were cancelled or postponed."
"A firm's affected employees include those employees that have a set - registered or booked - examination date which was cancelled or postponed by the examination provider or by the firm."
by Tanya at http://www.ifacareers.today
Daniel van Niekerk
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