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Endowment misselling compensation saga
Comments
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"Inactive" means he is no longer registered as undertaking any FSA controlled function.
"Controlled function" includes such things as being an adviser, director, compliance officer or money laundering reporting officer.
It would not stop him working in other roles within financial services - he could even work for the FSA or FOS.0 -
Mortgage advisers dont yet get classed as a control function. Many financial advisers have dropped or will be dropping down to mortgage adviser status (rule changes in 2012 upping qualifications is seeing many deciding to drop full licence). So, an ex full authorisation adviser who is now mortgage and/or insurance only would also appear as inactive on the FSA register.
If he has no other control function against him on the FSA register that is active, then he holds no high level position that requires FSA oversight.I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0 -
Thanks for the reply. I must admit I find this all a bit confusing! We will try and get some sense out of our solicitor tomorrow.0
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