The Complaints Commissioner has ruled in favour of the FCA over a complaint by a financial adviser unhappy about delays to their Approved Persons application.

The FCA plans to scrap the application process to convert Approved Persons to Senior Managers as part of new proposals to overhaul the authorisation of individuals.

The CISI has renewed its campaign to force the FCA to scrap its abolition of the Approved Person’s Register, warning of the impact on consumers.