From midnight on 30 November 2001, the Financial Services Authority (FSA) formally assumes its role as sole regulator for the financial services industry. The impact of this change is far-reaching, and for students and those working within financial services, understanding the implications of the new financial services regime is vital to maintaining relevant knowledge and continued compliance.
Although IFAs and mortgage brokers will have a relatively detached relationship with the FSA, students studying for regulatory qualifications, such as the Institute of Financial Services (IFS) CeMAP, CeFA and CFSP, will need to be aware of the changes to regulation, and how it will affect them, their company and their clients.
To ensure the continued relevance of its education solutions, the IFS has updated its learning materials for those qualifications that are affected by the changes. From 3 December 2001, all IFS students studying for CeFA, CFSP or CeMAP (as well as some papers of other IFS qualifications) will be examined according to the new regulatory regime.
Those who have already completed their exams, and who wish to keep their knowledge current can view and print out a copy of the supplement by visiting the IFS website at www.ifslearning.com Mortgage Strategy readers can contact customer services on 01227 818 609, or e-mail email@example.com if they require further information.
Timothy Fox, Institute of Financial Services, Canterbury, Kent