We pointed out on Monday that the information appearing on the FSB website differed from what we understood the process to be. We referred the matter to the Regulator, and received an amended document confirming the requirements for applying for an exemption.
It is very important that such applicants make sure that they comply with these guidelines. Please click here to download a copy.
Please avoid confusion with another document which also deals with an exemption application. This document was published last year, when certain categories of licence holders were given the option of applying for an exemption from the level 1 REs, in anticipation of the so-called “bespoke” exams.
The document referred to in paragraph 2 is titled “Application for an Exemption in Relation to Qualifications and Regulatory Examinations”. It provides full details of what is required, and confirms that there is no prescribed format.
The deadline to apply for an extension of the RE deadline, as well as for applying to continue doing business while they await the outcome of such requests, was 30 April 2013. While there is no news of a possible extension, those who failed to make this deadline has nothing to lose by submitting such requests in the prescribed manner.