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 of their CPD year and at the adviser’s firm’s discretion.
Please note there are no CPD exceptions for qualified advisers who are either returning to the profession, are on gardening leave or unemployed. The FCA has confirmed that any advisers who fall into these categories, must meet the full RDR CPD requirements before an SPS can be issued.