RDR and CPD
For RDR purposes evidence of achievement of CPD to meet RDR requirements (via the CISI CPD log or that of a CISI accredited CPD scheme for RDR purposes) is a requirement for obtaining an SPS.
The main RDR CPD requirements are as follows:
The CISI has its own CPD Scheme that is free to members and enables advisers to demonstrate they have met the RDR CPD requirements. The CISI will only accept CPD recorded on its CPD scheme or those of CISI Corporate Supporter firms who have had their CPD schemes accredited.
- A minimum of 35 hours CPD must be logged each year (as with CISI CPD scheme)
- A minimum of 21 hours CPD must be Structured CPD. A definition of what Structured CPD is, is available on page 42 of the CISI RDR booklet.
- All RDR CPD needs to include learning objectives and learning outcomes (for CPD years that end and SPS applications made after 31 December 2012.)
- CPD has to relate to the Retail Investment Market and to the Retail Investment Adviser role. As such some of the CPD that is submitted as part of CPD entries may not be suitable as RDR CPD if it relates to the wholesale market (for example) or not to the Retail Investment Adviser's role.
- To apply for an SPS, your CPD year must close within three months of your SPS application.
CISI CPD Activities
CISI CPD activities (examinations, events, e-learning etc) that could be relevant for a Retail Investment Adviser's role are automatically added to an individual's CPD log. This does not mean that every activity will be relevant to each individual adviser as it depends on their role. If a CISI CPD activity has been logged as relevant for RDR, but the adviser does not work in this specialist area, it is therefore not relevant CPD for them and the adviser must amend this entry.
There are some exceptions to the RDR CPD requirement. Advisers considering the basic format are strongly encouraged to check their firm’s own policy regarding this issue.
Newly qualified advisers who are applying for an SPS before their 30 month deadline will not be required to meet the specific CPD requirements for their first SPS application. Newly qualified advisers who decide not to meet the CPD requirements will receive a basic SPS, rather than a standard SPS.
Firms can suspend the requirement for continuing professional development for the period of time during which the employee is continuously absent from work, if that absence is due to an absence allowed in order for the firm to meet its statutory duties in relation to equality and diversity (which the employee is continuously absent from carrying on or supervising the relevant activity). The CISI will therefore allow advisers to apply for a basic SPS, which does not require the RDR CPD requirement to be met, if the adviser has been absent from work for six months (or longer) during the preceding 12 months and at the adviser’s firm’s discretion.
More information about RDR CPD
A CISI CPD booklet is available and incorporates information about RDR and continuing professional development (CPD). It can be viewed online.
A chart detailing different types of acceptable Structured and Unstructured CPD is available here. For more details on the RDR CPD requirements please see the FAQs.
Find information on how you can complete 35 hours CPD a year with CISI here.
RDR Booklet is our newly released RDR booklet that provides detailed information on RDR in general and CPD, and it is worth reviewing the CPD section of this booklet to see the full CPD requirements in detail.
Specific guidance on how to use the CISI CPD log is available on our website under CPD log help guides.