From Adviser Guide: Statements of professional standing
Q: Once I have a statement, what will the provider do?
Accredited bodies all need to check at least 10 per cent of holders to review in detail their CPD activities.
Sue Wiggins, CPD manager of the Institute of Financial Services, said her organisation will issue its SPS holders with regular reminders of when the SPS is due for renewal and with details of appropriate CPD opportunities.
She said the institute will keep a register of everyone who has applied for an SPS with it.
Sue Leech, education director at the Institute of Financial Planning, said the accredited body can become aware that action is required, for example, if the FSA has taken enforcement action against an individual resulting in withdrawal of CF30 approval or prohibition.