Cumbersome training and competence

It’s hard to argue with the premises behind the FSA rules, yet Adam Samuel can’t help thinking that the pot might be calling the kettle black. He walks us through the coming changes, identifying problems and pointing to what should be firms’ real goal.

Adam Samuel BA LLM DipPFS MCISI Barrister Attorney may be contacted at AdamSamuel@aol.com. His book, ‘Complaints and Compensation: a Guide to the Financial Services Market’, is available from his website, www.adamsamuel.com.

It is inherently difficult to be against training and competence. We all want the employees of financial services businesses to have “the skills, knowledge and expertise needed to discharge the responsibilities of an employee’s role” including “a good standard of ethical behaviour”, to quote the FSA’s definition of competence.