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IFA calls for (common) credit where its due

Wednesday 13th of April 2011

IFA chief executive Peter Lee said that at present no standards or definitions exist for continuing professional development (CPD) or the structured credits under Code Standard 18 of the Code of Professional Conduct.

Only Qualifying Financial Entities (QFEs), delegated assessment organisations and professional bodies can issue structured credits.

"The Securities Commission says the Code is a principles-based regime and therefore interpreting the Code is up to these organisations. However, we feel it is important to provide a standard benchmark for the provision of these credits," Lee said.

He said the IFA is to create some definitions for structured credits and would like to work with other bodies on the initiative.

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