The Chartered Institute for Securities & Investment is introducing mandatory CPD for its global membership.
The new policy, effective from 1 April 2017, will apply to all Cisi members, both existing and new, across every financial services specialism in the body’s remit.
All Cisi members, from affiliate grade upwards, will be required to complete a minimum of 10 hours of CPD a year, of which one hour must be completed on the subject of ethics.
Simon Culhane, chief executive of Cisi, said: “We are introducing these new CPD requirements to ensure that all our members, no matter what membership grade they are, job role they hold or jurisdiction they are working in, will be unified by meeting strict annual CPD standards.
“Our aim is to help our members demonstrate to consumers and the industry that they are committed to the highest standards of professionalism and integrity.
“We are phasing in these new CPD requirements gradually, over a two-year period, to ensure that we are allowing all our existing members time to get used to these new requirements.”
He said the Cisi had systems to help its members register their CPD hours annually, with all members receiving their own online record where Cisi activities are automatically added.
Existing members who join the institute before 1 April 2017 need to start their CPD year no later than 31 March 2018 to meet the new mandatory CPD requirements deadline of 31 March 2019.
Chartered members of the Cisi already carry out 35 hours of CPD a year, as do holders of a Statement of Professional Standing and certified financial planners.
They will now be required to complete three-and-a-half hours of that CPD on the subject of ethics.
The institute has stipulated that all CPD must be relevant to the member’s current role and any anticipated changes to that role.
Meanwhile all CPD recorded as ‘structured’ is required to be evidenced while learning objectives and outcomes must be completed for all CPD activities, demonstrating what has been learnt and its relevance to the role.
The change to CPD requirements come a year after the Cisi and the Institute of Financial Planning completed a merger.
damian.fantato@ft.com
