Clouded vision
In the past year brokers have become used to hearing Financial Services Authority buzzwords such as 'training and competency' over and over again, but how has it changed the way in which brokerages operate and are the instructions too vague? Liz Booth investigates
Training and competency (T&C) lies at the heart of the Financial Services Authority (FSA) mission for brokers to ensure customers understand what they are purchasing in order to make sure they are buying the right product.
Some might say the FSA has been rather vague on its instructions in this area, leaving brokers with the freedom to interpret the rules as they will - and waiting on an Arrow inspection visit to discover whether or not they are achieving the right goals.
But others say the
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