Context
The CII has published a statement in which it comments on the FCA’s decision to remove the compulsory 15-hour minimum annual CPD requirement for insurance firms.
Key points to note and next actions
- The CII reflected the views of its members when it challenged the proposal during the FCA’s consultation process. The FCA acknowledged this feedback in its Policy Statement and emphasises that its decision is “not intended as a relaxation of the overall competence and training expectation in our rules”.
- The CII welcomes this positioning, alongside the FCA’s reference to the change making “no difference for members of professional bodies who are subject to their mandatory CPD requirements.”
- The CII has thanked the FCA for engaging so openly with it and its members, and looks forward to continuing to work closely on the shared goal of building and maintaining trust in the insurance profession.
- The CII will still maintain its existing 35-hour CPD requirement for qualified individual members.