CPD rules 'discriminate' against specialist advisers, says AIFA

In its response to June's consultation paper on professionalism, it urges the FSA to "reconsider" the requirement for advisers to maintain competencies across all core areas regardless of their customer base. It says it is "unreasonable" to expect advisers to spend time learning subjects they will not advise on - particularly in light of the move towards specialist forms of advice. "The FSA's requirement effectively discriminates against specialist advisers by requiring them to demonstrate continuing competence in an area they do not provide advice on," it says. "Indeed, the likely...