The FCA requires that all retail investment advisers hold a Statement of Professional Standing (SPS) from 01 January 2013.
An SPS can only be issued by an FCA appointed accredited body, such as the CII, and confirms that an adviser:
- Has adhered to a code of ethical standards
- Holds the required qualifications for the activities they undertake; and
- Has completed appropriate CPD and complied with APER (Statements of Principle and Code of Practice for Approved Persons)
CII/PFS members advising on packaged products and/or securities/derivatives can apply for their free CII SPS.
Eligibility criteria - please read before applying
To be eligible for a CII SPS you need to satisfy the following criteria:
1. Be a member of the CII/PFS
2. Hold either:
A. a qualification which meets the new RDR requirements in full, e.g. CII Diploma in Regulated Financial Planning; or
B. a 'transitional qualification', e.g. the CII Diploma in Financial Planning plus relevant gap fill which has been verified by an accredited body If you need to complete gap fill, please visit: www.cii.co.uk/gapfill.
Please note: If you have been recording your gap fill on the CII Gap Fill Tool you will need to submit your completed gap fill record for verification and have received confirmation of this from the CII before you can apply for an SPS - this can take up to 60 days.
3. Be an active retail investment adviser and have an FCA Individual Reference Number.
Please take the time to read our application guidance before applying.
You can also watch our SPS made simple animation for the facts on how to obtain a CII SPS