CPD

As the FSA pointed out in the CP09/18 and the CP09/31, CPD is about keeping knowledge up to date and they will publish the feedback from the CP09/18 consultation once they are clear about the governance of Professional standards.

 
However for those people who either hold or choose to go for a transitional qualification as per Table 3 they will have to fill the gaps between the qualification standards of their current qualification and the new QCA level 4 qualifications. This is referred to as CPD top-up.

CPD top-up should be structured

CPD top-up should be completed by the end of 2012.

The FSA consider the most pragmatic and cost effective solution for advisers to identify the nature and size of any CPD gap is to identify at a high level the key areas of improvement from the current exam standards to the new exam standards.

Guidelines and templates have been provided in Section 2 - Annex 3 of the CP09/31

CTP have pointed out to the FSA that in order to do this, advisers will need access to the legacy qualification standards / learning outcomes which are not currently available via any website.
We are still waiting for a response from the awarding bodies as to how they will make these available and if there will be a cost to access them.

It is proposed Advisers should have evidence to demonstrate they have completed

a. structured learning (either by examination or CPD);

b. the learning outcome covered;

c. the result of the assessment; and

d. the name of the independent assessor

As the proposal for a Professional Standards Board has been usurped for an internal model giving the responsibility of attaining and maintaining technical competence to recognised professional bodies they will act on the FSA’s behalf to independently verify CPD and CPD top-up .