FCA: Advisers must complete 15 hours protection CPD each year

To meet Insurance Distribution Directive rules

Hannah Godfrey
clock • 2 min read

Advisers wishing to sell protection must complete 15 hours of focused continuing professional training or development (CPD) per 12 months to comply with new rules coming into force later this year, according to a Financial Conduct Authority (FCA) policy statement.

The policy statement said the 15 focused hours are included in the 35 hours of CPD the FCA already requires financial advisers to undertake every year. Firms wishing to sell protection must be compliant with the new rules by the Insurance Distribution Directive implementation date, which has been pushed back seven months to 1 October 2018.   'Time spent better elsewhere' Informed Choice managing director and IFA Martin Bamford said the extra protection-based hours required could be used better to further professional development. "It's something we're going to have to incorporate...

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 Protection

Is price really still king? Why the protection market needs to evolve

Is price really still king? Why the protection market needs to evolve

Data and process improvement will be 'battlegrounds of tomorrow'

Paul Yates
clock 18 March 2024 • 3 min read
Protection sales down 102,000 in 2023; adviser focus labelled 'crucial'

Protection sales down 102,000 in 2023; adviser focus labelled 'crucial'

'Income protection products are more important than ever'

Cameron Roberts
clock 26 February 2024 • 1 min read
'What if': Why business protection advice is so important

'What if': Why business protection advice is so important

'Advisers need to support their business owner clients'

Naomi Greatorex
clock 08 February 2024 • 4 min read