Isle of Man Investment Advisers now require Statement of Professional Standing from 1st January 2015

Under the Financial Services Rule Book 2013, from 1 January 2015, all advisers providing investment advice to retail clients are required to hold a current Isle of Man Statement of Professional Standing (‘SPS’). In order to comply with rule 8.5A(3) licenceholders must ensure that investment advice to retail clients is only supplied by advisers hold an SPS.

From 1st January 2015, no financial adviser will be allowed to advise retail clients unless they hold a current SPS. To qualify for an SPS an adviser is required to hold a relevant qualification and demonstrate that they have undertaken at least 35 hours of Continuing Professional Development in the previous year.

As an FSC appointed Accredited Body, the CII are now accepting SPS applications from adviser members of the PFS or CII. Available free and exclusively to members, a CII Isle of Man SPS is annually renewable and valid until 31st December each year.

Please follow the link below should you wish to apply for an IOM SPS:-

http://ciigroup.wufoo.eu/forms/sps-application-centre-for-isle-of-man-advisers/