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Comprehensive CPD Workbook for Regulatory Compliance

Explore and implement regulatory CPD requirements with distinction between Firm and Accredited Bodies. Learn about identifying training needs, setting aims, objectives, outcomes, measurement methods, reflective statements, FSA CPD criteria, record-keeping, CPD hours, job changers, and responsibilities.

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Comprehensive CPD Workbook for Regulatory Compliance

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  1. CPD Workbook A journey through the regulatory CPD requirements to ensure you can implement them and can differentiate between the responsibilities of your firm and Accredited Bodies

  2. Competence? • “Of course I am competent, I have a SPS to prove it” • Why is this statement wrong?

  3. Identification of needs • What process do you follow to identify an adviser’s training needs?

  4. Aims, objectives and outcomes • What is the difference between an aim, objective and outcome?

  5. Aims, objectives and outcomes • Write an aim, objectives and outcomes for this training you are currently undertaking

  6. Aims, objectives and outcomes • How will you measure the outcome(s) you have defined? If you cannot measure it is not a true outcome.

  7. Aims, objectives and outcomes • What training have you undertaken with supervisors to ensure that they can identify training needs and construct appropriate CPD plans? • Produce a list of appropriate verbs that could be useful in helping construct outcomes

  8. Measuring outcomes • What methods do you use to measure whether an outcome has been effective?

  9. Reflective statements • How could the following statement be improved? The example calculations provided within the learning material have helped me develop a better understanding of the methods of calculating premiums. I now feel confident that I have the required technical knowledge in this area

  10. Reflective statements • What steps have you taken to ensure that reflective statements are not just a collection of the same, bland comments that are more associated with satisfying a process rather than an individual development experience

  11. FSA CPD criteria • (2) maintain the retail investment adviser's knowledge by reference to current qualification standards relevant to the retail investment adviser's role; • (3) contribute to the retail investment adviser's professional skill and knowledge; • (4) address any identified gaps in the retail investment adviser's technical knowledge; How do you ensure that all these FSA requirements are met?

  12. Types of CPD • The ABs have different interpretations of the FSA Guidance. Can you think of specific examples to demonstrate this?

  13. Record keeping • How do you ensure that the records being kept by the adviser for submission to their Accredited Body are an accurate reflection of CPD undertaken, will meet the AB standards, be sufficient for SPS purposes. How do you record CPD undertaken in respect of non regulated job responsibilities

  14. Firm Access Do Accredited bodies allow firms access to advisers records? If so in what format?

  15. CPD Hours • How do you ensure that your advisers complete 35 hours of qualifying CPD on a rolling 12 month basis

  16. Job changers • An adviser joins your firm and is a member of an Accredited body different to the one that all your other advisers belong. What actions will you take bearing in mind that each Accredited body interprets CPD requirements differently

  17. Who’s responsible for what? • Draw up a list that differentiates between the requirements of a firm and those of an Accredited body.

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