The purpose of this section is to set out the requirement for firms which employ retail investment advisers to notify each individual retail investment adviser's professional standards data to the FCA.
The purpose of collecting this data is to assist the FCA in the ongoing supervision of firms which employ retail investment advisers and to enable the FCA to gain an understanding of the professional development of individual retail investment advisers in the interests of protecting customers.
The reporting periods are the four calendar quarters of each year beginning on 1 January.
A firm may submit a data report more frequently than quarterly if it wishes.
The report must contain professional standards data as follows:
the firm's name and Firm Reference Number;
- (2) 2
whether a retail investment adviser has attained an appropriate qualification;
The data report must comply with the provisions of TC Appendix 8R.