Statements of Professional Standing

The Chartered Banker Institute became an FSA accredited body in September 2011 and is authorised to issue Statements of Professional Standing (SPS) to advisers who meet the FSA’s professional standards’ requirements. All retail investment advisers must hold an SPS from 31 December 2012. Advisers wishing to apply for an SPS must:

• hold an appropriate qualification and any gap-fill,
• comply with the FSA’s Statements of Principle for Approved Persons (APER),
• have an individual FSA registration number and active status,
• follow a professional code of conduct, such as the Institute’s,
• hold a statement of Professional Standing (SPS) from an FSA accredited body such as the Chartered Banker Institute,
• undertake a minimum of 35 hours CPD each year, 21 of which needs to be structured, and maintain a full record throughout the year.

For more information, download our SPS Guidance.

Professional Financial Adviser (PFA) Membership and your SPS

The Institute has a Professional Financial Adviser (PFA) membership package that includes an SPS and is available to all advisers who meet the FSA' requirements.

Visit our PFA page for more information and an application form.

Important deadlines

Existing advisers must ensure they hold a valid SPS within 60 days of 31st December 2012.

All other advisers must obtain their SPS within 60 days of achieving their adviser status.

Further Information

Download our full SPS Guidance which we have also split into smaller sections:

 Retail Distribution Review
Statement of Professional Standing (SPS)
 Appendices