The Financial Services Skills Council (FSSC) has today launched a consultation on the development of best practice for staff working in compliance and money laundering prevention in the financial services industry.

The FSSC said it would be seeking views on its draft industry performance standards for compliance and money laundering prevention roles.

The consultation is the culmination of a twelve-month project together with the International Compliance Association and working with employers and practitioners, to develop draft standards, it said.

The FSSC said the objectives of the consultation are:

·To test the accuracy and credibility of the new draft standards
·To establish the acceptability of industry standards for compliance and money laundering prevention to employers
·To identify the uses to which firms intend to put the final national occupational standards
·To assess the demand for qualifications for compliance and money laundering prevention
·To develop a qualifications framework.

The consultation period ends on Tuesday 31 May 2005, and the new standards are expected to be operational by mid-August 2005.

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