| Link(s): | CP24/3: Quarterly Consultation Paper No. 43 | FCA CP24/3: Quarterly Consultation Paper No. 43 (fca.org.uk) |
Context
The FCA’s TC Sourcebook contains a long list of ‘appropriate qualifications’ at TC Appendix 4.1.1D, which hit revisits occasionally on an ad-hoc basis. The FCA is proposing an overhaul of the existing Appropriate Qualifications table, and is proposing an annual review of related elements of the TC Sourcebook.
Key points to note and next actions
- The FCA is proposing an overhaul of the existing Appropriate Qualifications table, splitting it into two.
- The first table will contain only currently offered and acceptable ‘appropriate qualifications’, with qualifications that are no longer deemed acceptable and / or that are no longer available being moves to the second table.
- The Consultation is seeking to introduce an annual consultation cycle on qualification-related elements within the TC sourcebook.
- To account for any urgent changes, the FCA is proposing to include the option to consult outside of the annual schedule where there are exceptional circumstances. These circumstances will be determined exceptional by the FCA on a case-by-case basis, but this could include where a brand-new qualification has started to be provided, or where a qualification needs to be removed with urgency.
- Responses are invited on this issue by 8 April 2024; the means of responding are set out on page 2 of the Consultation.