The FSA has confirmed the arrangements for the supervision and enforcement of professional standards and clarified a number of points on qualifications, continuing professional development and ethical behaviour.
This factsheet aims to clarify what is required to meet the deadline for the new, higher-level qualifications. It also gives an overview on the supervision and enforcement of these new professional standards and explains the FSA's proposal for Statements of Professional Standing.
By the end of 2012, the following will be required from individual retail investment advisers:
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a Statement of Professional Standing (SPS) issued by a body accredited by the FSA;
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an appropriate qualification as set out in Appendix 1 of PS11/1 and completed gap fill where required;
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completing some qualification gap fill depending on which qualification currently held;
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ensuring clarity on and continued observation of the ethical requirements set out in APER.
Factsheet
© FSA - Financial Services Authority
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