What do you mean by recognise – what status will they have?
Our proposals to ‘recognise’ professional bodies will mean they have adhered to a required set of criteria to allow their members to attain and maintain a level of professional standards that at least complies with our minimum standards. This will create a ‘safe harbour’ for firms and their advisers that if they are meeting a recognised professional body’s standards we will see this as meeting our professionalism requirements.
