A new strategic national body has been established to drive up standards of education, training, skills and competence in the financial services industry.

The Financial Services National Training Organisation (FSNTO) will influence government and regulatory policy on learning and development and aims to improve competitiveness in the market.

It will also provide an independent research base of skills and competency requirements.

The FSNTO replaces both the Insurance and Related Financial Services NTO and the Banks and Building Societies' NTO – extending its remit to cover the whole sector.