Advisers wishing to sell protection must complete 15 hours of focused continuing professional training or development (CPD) per 12 months to comply with new rules coming into force later this year, according to a Financial Conduct Authority (FCA) policy statement.
The policy statement said the 15 focused hours are included in the 35 hours of CPD the FCA already requires financial advisers to undertake every year. Firms wishing to sell protection must be compliant with the new rules by the Insurance Distribution Directive implementation date, which has been pushed back seven months to 1 October 2018. 'Time spent better elsewhere' Informed Choice managing director and IFA Martin Bamford said the extra protection-based hours required could be used better...
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