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'Simplified' training book formed for businesses
01/03/2007
Retail firms and businesses have been offered a "simplified" Training and Competence (T&C) sourcebook by the Financial Services Authority (FSA).
Changes made to the document have been introduced to keep in line with the Markets in Financial Instruments Directive (MiFID), the FSA states.
Overall, the move is part of the authority's drive to streamline and simplify its handbook and omit prescriptive requirements.
All developments will come into force when the MiFID is implemented on November 1st 2007.
Dan Waters, FSA's director of retail policy, commented: "Our proposals are the result of a 'blank sheet of paper' review of our T&C regime.
"This is all part of our move to more principles-based regulation."
He added that the changes will help give companies added flexibility in order to help them achieve their outcomes in the best possible ways.
Changes made to the document have been introduced to keep in line with the Markets in Financial Instruments Directive (MiFID), the FSA states.
Overall, the move is part of the authority's drive to streamline and simplify its handbook and omit prescriptive requirements.
All developments will come into force when the MiFID is implemented on November 1st 2007.
Dan Waters, FSA's director of retail policy, commented: "Our proposals are the result of a 'blank sheet of paper' review of our T&C regime.
"This is all part of our move to more principles-based regulation."
He added that the changes will help give companies added flexibility in order to help them achieve their outcomes in the best possible ways.