Accredited bodies given go-ahead to issue adviser SPSs

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The Financial Services Authority (FSA) has formally accredited six professional bodies, meaning they can begin issuing Statements of Professional Standing (SPS), a mandatory form of practicing certificate for advisers.

Earlier this year, it proposed to accredit the Chartered Insurance Institute, the Institute of Financial Planning, the CFA Society of the UK, the Chartered Institute for Securities and Investment (CISI), the Chartered Institute of Bankers in Scotland and the Institute of Financial Services. Following consultation, the FSA's board has now formally approved them all, according to the latest Handbook Notice, and the CISI has said it will begin accepting applications for SPSs from members from 1 October. Following feedback received by the FSA, the Institute of Financial Services has been ...

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