FSA proposes the first set of names of potential RDR accredited bodies

06 June 2011

In today's consultation paper 11/11 (QCP 29), the FSA proposes to recognise the first six accredited bodies for the Retail Distribution Review.

The FSA received six complete applications for recognition as an accredited body. Having assessed them against their criteria they are proposing to recognise the following as accredited bodies:

• CFA Society of the UK;
• The Chartered Institute for Securities and Investment (CISI);
• The Chartered Institute of Bankers in Scotland (CIOBS);
• The Chartered Insurance Institute (CII);
• The Institute of Financial Planning (IFP); and
• The Institute of Financial Services (IFS).

If the FSA decides to recognise all or any of these organisations, the recognition would take effect from the date the organisation is added to the Glossary definition of an accredited body.

The requirement to obtain independent verification from an accredited body starts on 31 December 2012.

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