From Adviser Guide: Statements of professional standing
Q: What is a statement of professional standing?
A Statement of Professional Standing is a certificate that confirms an adviser has met certain requirements.
To obtain a Statement of Professional Standing an adviser must:
1) complete a QCF level four qualification that appears on the list of appropriate qualifications in the FSA Handbook and includes any required qualification gap-fill;
2) complete an annual programme of a minimum of 35 hours of CPD that meets the requirements laid out by the FSA. This requirement is optional for applications up to and including 31 December 2012. From 1 January 2013 onwards this requirement is optional for advisers who completed their level four qualification in the preceding 12 months;
3) act in accordance with FSA statements of principle and code of practice for approved persons;
4) agree to adhere to an organisation’s code of ethics; and
5) Pay any associated fees.
It will be a requirement from 1 January 2013 for all financial planners to hold an SPS.