Lord Elton
Main Page: Lord Elton (Conservative - Excepted Hereditary)Department Debates - View all Lord Elton's debates with the HM Treasury
(12 years ago)
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Lord Sassoon
My Lords, as I have said, I understand that the FCA is thinking about whether its training could be externally accredited. So it is indeed thinking ahead to whether that could be a possibility.
Lord Elton
My Lords, in his initial reply, my noble friend said in effect that there would be a benchmark after the first year’s work in a regulator and at subsequent stages, but nothing about the benchmark for new entrants. Further to his answer to the previous question, does he not agree not merely that the public need reassurance but that the practitioners need to have respect and to be in awe of the regulators and of their qualifications? Otherwise, there will be considerable discontent and a good many mistakes made.