Bank staff need qualifications to sell products to public, says regulator
The Irish Financial Services Regulatory Authority (IFSRA) said yesterday that people working in the financial services industry would need to meet minimum standards to allow them sell products such as mortgages, investments, life assurance and credit cards.
Speaking at the Finance Dublin Conference organised by industry body Financial Services Ireland, IFSRA chief executive Liam O’Reilly said he would consult with the financial services industry before deciding on the necessary minimum levels of competence. Mr O’Reilly said the requirements would apply to staff involved in sales and advice to customers. This would exempt staff working in back-office or administration roles who have no direct contact with customers.
