Currently, this is one of the questions we are most often asked.
The trouble is, there are different sources of opinion. At the end of the day, we believe that it is the regulator’s opinion that counts and this is what the FCA say:
- Structured CPD is an activity that uses material or activities that are designed to achieve a particular learning outcome.
- As with unstructured CPD, it is capable of being independently verified.
- Structured learning activities include: participating in seminars (web based or in person); lectures; conferences; workshops; courses; and completing appropriate e-learning.
- For a minority of activity, it might also include structured, educational reading, where quality reading material has been produced to meet the required learning outcome.
- The activity should require a contribution of thirty minutes or more of the adviser’s time.
- It does not include carrying out research on products and services for your client.
Read more here.
FCS Transitional Arrangements
Steve Bailey Compliance Update
As you will be aware the Financial Services Authority ceased to be and the Financial Conduct Authority took over the regulation of financial advice firms on 01 April 2013.
The FSA issued PS13/05 last week which includes updated rules and transition arrangements. The policy statement itself is 88 pages but the ‘appendix (3)’ that accompanies it is a mere 1990 pages so you must excuse us for not as yet absorbing every word. The document can be seen here.