The factsheet focuses on the role of accredited bodies, the FSAs expectations of accredited bodies, and statements of professional standing (SPS).
Accredited bodies will:
• ensure that all of the advisers who use their services are subscribing to a code of ethics that is consistent with the Statements of Principle for Approved Persons;
• check that all of the advisers who use their services hold an appropriate qualification, including verifying 100% of their gap-fill where required;
• carry out a random 10% CPD sample check (the body can exceed this requirement if they choose); and
• recognise CPD activity from a range of providers, including firms’ own in-house schemes.
All advisers will need to hold an SPS that is issued by an accredited body. The SPS confirms that advisers:
• have adhered to the ethical standards;
• hold the required qualifications (including gap-fill); and
© FSA - Financial Services Authority
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