Endowment misselling compensation saga

magpiecottage

"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.

dunstonh

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.

chunkyferret

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.