Our world is changing. 2016 has been a momentous year and in our world of money and money management, change is never far away. This is nothing new, but what is new is the real need to be involved with the professional organisations that you belong to. You need them, they need you and our regulators want to know that we are together truly engaged in ensuring that great (and ever improving) consumer outcomes are at the forefront of our actions now and our ambitions for the future. This applies to you, your business, your colleagues, your competitors, to us all!
As we, our profession, and the CISI ever evolve, so do the requirements for CPD from April next year. As you will see below, being involved now has never been more important:
- Mandatory annual CPD requirement for ALL CISI members (excluding students) of 10 hours, of which 6 hours minimum to be structured, with 10% (one hour being in the topics of Regulation, Risk and Integrity and Ethics. Members will be required to declare their CPD annually on the CISI self-declare scheme.
- Whilst there are changes to the CPD requirements for SPS holders, Certified Financial Planners, Chartered members or members looking to become individually Chartered they are less significant. These categories of members will continue to be required to complete 35 hours of CPD (21 structured, 14 unstructured), but with 10% (3.5 hours) in Regulation, Risk and Integrity and Ethics – Members will continue to be required to record their CPD on the CISI CPD scheme and reflect on their learning objectives and outcomes. The requirement for Chartered Members to complete one hour of ‘Developing Others’ will no longer be mandatory.
- All ‘existing’ members who will have joined the CISI before or on the 31st March 2017, will need to ensure they meet the new mandatory CPD requirement by successfully completing one year of CPD by the 31 March 2019.
- All new members who join the CISI on or after the 1st April 2017 will be required to meet the CPD requirements set by the CISI on an annual basis to maintain their membership.
I appreciate that CPD is not the most exciting of subjects, but one simple way of achieving huge inroads into these updated requirements is to attend CISI events in your Southern region. We need you, you need us…or am I repeating myself?
Join us soon, bring your fellow colleagues, and be involved. We hope to inspire and to be inspired!
See you soon.
Keith G Churchouse BA (Hons), FPFS
Chartered Financial Planner
CFP Chartered FCSI
ISO 22222 Certified