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The 42-page booklet sets out guidance for firms and individuals who need to fulfil the new regulatory requirements in relation to CPD, such as how to log evidence for audit purposes and measure CPD to be independently verified.
Advisers authorised as of 30 June 2009 must get their first SPS [Statement of Professional Standing] by 31 December 2012, but the CISI recommends in the guide that IFAs submit their SPS application by 31 October 2012, and warned the 60-day window to obtain an SPS after 31 December 2012 was treated as a safety net and should only be used where “absolutely necessary”.
Newly qualified advisers are not required to meet the prescribed number of CPD hours for their first SPS year. However, the guidances says: “Advisers considering opting out of the RDR CPD requirements pre-31 December 2012 are strongly encouraged to check their firm’s own policy regarding this issue”.