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Paper No. 3 - RDR Clarity around FSA Permissions and Statements of Professional Standing

This paper will be of interest to all retail investment advisers who are in the process of completing RDR qualifications, and gap fill where necessary, as well as applying for their Statement of Professional Standing. The paper details the requirements for those advising in the areas of Packaged Products, Securities and Derivatives.

The 31st December 2012 is fast approaching and most of you will be, if not already there, well on the way to completing your RDR qualification requirements. Along with qualifications, many of you will also have a requirement to complete qualification 'gap fill' and will be using the CII gap fill tool to support this process.
RDR rules also state that all retail investment advisers must hold a Statement of Professional Standing (SPS), from an Accredited Body, to demonstrate that they:

  • have adhered to a code of ethical standards
  • hold the required qualifications for the activities they undertake and;
  • have completed appropriate CPD and complied with APER (Statements of Principle and Code of Practice for Approved Persons)

Now that the CII is an Accredited Body, once qualifications and any relevant gap fill have been completed, you can submit your gap fill record to the CII for verification. On confirmation of successful verification, you are in a position to apply for your Statement of Professional Standing (SPS).

Downlaod the full paper here »