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Financial Services: Qualifications

Volume 504: debated on Monday 18 January 2010

To ask the Chancellor of the Exchequer what information his Department holds on the likely length of time that would be required to complete the QCF Level 4 qualification for financial advisers proposed by the Financial Services Authority. (310954)

The Retail Distribution Review is a matter for the FSA, as the independent regulator. Although the qualification requirements have yet to be finalised, in its most recent consultation, “Delivering the Retail Distribution Review”, the FSA explained that it expects new qualifications intended for its transitional qualifications list to meet the broad criteria for a Level 4 ‘Diploma’, as defined by the Qualifications and Credit Framework (QCF). A QCF Diploma must be at least 37 credits, where one credit is equal to 10 hours of notional learning time.