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January 24, 2012

ICAEW granted accredited body status by the FSA

The Institute of Chartered Accountants in England and Wales (ICAEW) has been authorised by the Financial Services Authority (FSA) to issue the Statement of Professional Standing (SPS) required by the Retail Distribution Review (RDR).

As an accredited body the ICAEW will assess whether retail financial advisors have met the FSA’s new qualification standards and will monitor their professional development.

“The Retail Distribution Review represents a significant change for retail financial markets and financial advisors and ICAEW will now play a part in delivering an enhanced regime for consumers,” ICAEW executive director Vernon Soare said.

The executive director also said this is part of a long term strategy to increase ICAEW’s services and to build on its consumer focus.

The institute said it expects to open the scheme for applications in April.


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