The Chartered Institute for Securities & Investment (CISI) welcomes the Regulator’s decision to press ahead with the main proposals and timeframe of the RDR. The commitment to professionalism demonstrated by a combination of qualifications, continuing professional development and adherence to codes of conduct mirrors the holistic approach to competence embodied in the mission of the CISI and its charter. The CISI supports the Statements of Professional Standing as a practical manifestation of demonstrable competence.
The CISI is particularly pleased that the accredited body requirements continue to include public interest criteria and therefore announces that it will apply to become an accredited body.
The CISI has already invested considerably in the important task of informing, consulting and listening to our members, corporate supporters and examination candidates affected by the Retail Distribution Review. This will continue with a further round of information briefings beginning in February, to help them all prepare for the Statements of Professional Standing.
Simon Culhane, Chartered FCSI, CISI CEO said: “We all have an interest in rebuilding trust in the financial services sector. Central to that trust is demonstrable competence at adviser level. We intend to play our full part as a potential accredited body in enabling our members to fulfil these requirements, and will also encourage them to aspire to personal Chartered status, the pinnacle of professionalism already achieved by over 3,000 of our members.”
Ruth Martin, CISI managing director said: “‘ There are many firms and advisers in the sector who have already worked hard to complete the qualifications part of the RDR journey; including thousands who invested in higher level qualifications even before the RDR was initiated. Thousands more have already been logging relevant CPD of 35 hours a year. Their achievement will now be built upon as we prepare to pilot Statements of Professional Standing during 2011 to ensure that all those who use the CISI’s services can be at the forefront of the profession by the time the RDR is fully implemented at the end of 2012.”