An SII survey has shown a groundswell of opinion that it should be mandatory for financial services practitioners to belong to a professional body for the industry. In response to a poll on the Institute’s website, www.sii.org.uk, 89 per cent of respondents said they favoured the move, with only 11 per cent of people against such a measure.
Those taking part in the survey were asked to leave their comments. Among those in support of compulsory membership of a professional body were “it would make people behave in a more responsible manner”, “it will bring self-regulation and weed out non professionals” and “this will ensure that practitioners are competent, standards are maintained and customers receive first rate advice and services that meet their needs”. SII chief executive Simon Culhane FSI said: “The survey makes it clear that professionalism is needed and it is far more than just taking examinations but includes staying fully up to date with the latest knowledge as well as acting, at all times, with integrity. This is precisely what belonging to a professional body means."
- Only 27 per cent of people think Mifid has had a substantial impact in creating a single European market in securities, another SII online survey has revealed. Thirty-seven per cent of respondents said it was too early to measure Mifid’s effect, 30 per cent suggested that the directive had had little impact and six per cent said it had done nothing to promote a united cross-border market.
- To take part in the latest SII online survey visit www.sii.org.uk
