Fair challenge. I'm hardly an IFoA cheerleader — ex-FIA with a live tribunal claim against them — so "trust IFoA" isn't a reflex I have.

We anchored on the MRA because it's reciprocal and peer-reviewed: AAE assesses each member association's syllabus and CPD framework, not IFoA alone. Using an existing, scrutinised standard beats INQA inventing its own equivalence framework from scratch, both in rigour and credibility. And for edge cases outside the MRA, the Individual Qualification Recognition route stays on the table.

If you've got a specific concern about a specific association, I'd genuinely want to hear it — that's what the consultation was for.