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Development needs and regulatory change

The financial services industry is an industry that is subject to frequent regulatory change.

In terms of training and development needs, the focus is currently on the proposed changes to the investment advice sector in line with the proposals in the Financial Services Authority (FSA) Retail Distribution Review.

One of the proposed changes is raising the minimum qualification level for Independent Financial Adviser (IFAs) to level four for all advisers before the end of 2012.

Our network of training providers is already delivering level three financial advice qualifications. Last year nearly 300 Advanced Apprentices started their training which included a level three Chartered Insurance Institute (CII) or Institute for Fiscal Studies (IFS) financial advice qualification.

The National Skills Academy for Financial Services (NSAFS) is working on ways to support new and current advisers who are working or will be working towards level four qualifications in the coming years.

As we develop new and innovative solutions, more information will be posted on this website, but please contact the Regional Director in your region for information and advice.

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