CPD rules 'discriminate' against specialist advisers, says AIFA

clock •

FSA proposals requiring advisers to demonstrate ongoing CPD in all core competencies, even if they do not operate in every area, discriminate against specialist intermediaries, AIFA says.

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...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Regulation

FCA annual meeting dominated by whistleblower handling criticism

FCA annual meeting dominated by whistleblower handling criticism

After the death of Simon Andriesz

Alex Sebastian
clock 07 October 2026 • 3 min read
FCA secures money back for victims of £1.5m crypto fraud

FCA secures money back for victims of £1.5m crypto fraud

Obtains confiscation orders against Raymondip Bedi and Patrick Mavanga

Sophia Panayi
clock 28 September 2026 • 1 min read
FOS partially upholds complaint against SJP for failing to provide annual reviews

FOS partially upholds complaint against SJP for failing to provide annual reviews

SJP failed to provide five annual reviews for client

Sophia Panayi
clock 23 September 2026 • 3 min read