Written evidence submitted by Chris Hulme
CertPFS CeMAP
There are some simple things the FSA need to
do:
Firstly, rather than increasing the qualification
level for those already practising, increase the vetting at entry
to the industry in a similar way that other professions do, time
served with existing businesses for example to work on good practice.
Secondly, let regulatory changes bed in, don't
change them every five minutes and make it impossible to keep
up with what we need to do to comply.
Thirdly, be helpful with advisers—when
we ring for clarification or assistance in understanding the handbook,
don't just quote the handbook, help us interpret it. It's no use
interpreting it when it's all gone wrong, help us avoid it going
wrong—strangely this is something else other professional
bodies do as well ...
Fourth, introduce an interim DA Permission (say
six months) for advisers of Networks that fail—such permissions
will allow the advisers to continue in business and resolve their
future regulatory structures going forward.
Fifth, look at the figures—DA advisers
or Network advisers aren't the biggest risk or bring in the most
complaints—banks do!
October 2010
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