Professionalism: Ten things you need to know

1. All advisers must hold a statement of professional standing (SPS), detailing evidence they subscribe to a code of ethics, are qualified, and have kept their knowledge up to date. 2.  Bodies accredited by the FSA will be responsible for issuing individuals with an SPS and for ensuring that advisers hold an appropriate QCF Level 4 qualification and have filled any gaps in their knowledge. 3.  If an SPS is removed from an adviser, the FSA could levy a fine on them, suspend them or even decide to remove their approved person status, although it could also agree to an action plan to be un...