Regulation for financial advisers

Investment advisers must hold accreditation in order to operate in the UK from the start of 2013, the City watchdog has announced. The change comes after a long-running review by the Financial Services Authority (FSA) that aims to bolster public confidence in financial advice.

An adviser will need to sign up to a code of ethics, be qualified and have up-to-date knowledge.

The rules cover independent advisers as well as those working for institutions.
That means advisers employed by banks and insurance companies would also require the accreditation, called a Statement of Professional Standing.
Read More Here: Regulation FSA