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Ruth Martin Update for Compliance 16th January 2008

Ruth Martin Update for Compliance 16th January 2008. AGENDA. RDR T&C MiFID Other developments. Retail Distribution Review RDR. SII responded Positive re proposals on professionalism Potential key role for professional bodies FSA seeks Industry solution FSA, over 500 responses

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Ruth Martin Update for Compliance 16th January 2008

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  1. Ruth Martin Update for Compliance 16th January 2008

  2. AGENDA • RDR • T&C • MiFID • Other developments

  3. Retail Distribution ReviewRDR • SII responded • Positive re proposals on professionalism • Potential key role for professional bodies • FSA seeks Industry solution • FSA, over 500 responses • FSA feedback statement due April 2008, policy proposal October 2008

  4. RDRIssues for SII • Areas of collaboration with other professional bodies • Role of FSA, FSSC and Professional Bodies, ie potential Professional Standards Board • Disciplinary powers • Membership access • Explore Chartered status?

  5. Issues for SII continued • Practising certificate? • Minimum Industry CPD? • Wealth Management PIF investment • Qualification • New Retail exams • New Wealth Management Masters • FSI by experience or CPD? • MSI by experience or CPD?

  6. What we are here for “ To set standards of professional excellence and integrity for the securities and investment industry, providing qualifications and promoting the highest level of competence to our members, other individuals and firms “

  7. SII Focused Themes • ATTAIN: Testing knowledge, awarding qualifications • MAINTAIN: Provide means for Continuing Professional Development • PROMOTE TRUST: Promote high standards of Trust & Integrity

  8. T&C • New Retail approach • Investment and Risk • Securities • Certificate in Investment Management

  9. MiFID • Non-mandatory examinations in professional (non-retail) • Even closer working with Trade Bodies and firms needed • Regulatory exams constant review • Events, CPD, Conference and Training SII seen as leader

  10. Other developments • Major focus student to ASI • Profile development • International development

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