IFA lobbys for longer licencing periods
The Securities Commission said last month that it is considering setting all licence periods for between three and seven years and in the absence of information on which to base that assessment, the default period proposed for all advisers is five years.
IFA chief executive Peter Lee says because institute members as a whole and CFPs and CLUs in particular are subscribing to higher standards than authorisation, the licencing period should be longer.
The institute has made a submission to the Securities Commission saying its members should have a licencing period of six years with CFPs and CLUs having the longest period of seven years.
Lee says there are two main reasons why.
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