FSA upbraids firms for failing to send in qualifications data

The Financial Services Authority (FSA) has criticised firms for failing to send in details of advisers' qualifications.

The FSA gave firms a deadline of 29 January to send in the data, which firms are required to provide under the regulator's rules. However, an FSA spokesperson said today that a "significant minority" of firms had failed to meet the deadline, and were now more than two weeks late with the data. "These firms are breaking the rules and if they continue not to provide the data we will have to follow up further," said the spokesperson. The FSA is also collecting data on advisers' levels of qualifications from accredited bodies. This data shows a much larger number of advisers as qualifi...