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News

SII Certificate in Derivatives (Retail) accredited by QCA

10/03/08

The QCA (Qualifications and Curriculum Authority) has accredited the new retail pathways in Derivatives. The SII (Securities & Investment Institute) can now offer the Certificate in Derivatives – Retail and the Certificate in Financial Derivatives – Retail.  The Financial Services Skills Council is adding both qualifications to the Appropriate Examination list maintained for the retail sector. After discussion with the Skills Council, the SII have agreed that, in order to give firms time to put in place procedures for staff to take the additional unit in the new retail stream, the retail stream will become effective from 1st May 2008.  From that date, individuals engaged in advising and dealing in Derivatives or Financial Derivatives on behalf of retail clients will have to pass three papers: FSA Financial Regulation/Principles of Financial Regulation, Investment and Risk and Derivatives or Financial Derivatives.  Individuals who have passed just the regulatory unit prior to 1st May and have yet to complete the qualification will have to take the additional unit, Investment and Risk.  Individuals completing the Certificate in Derivatives/Financial Derivatives prior to 1st May 2008 will continue to hold an Appropriate Examination to work with retail clients.  The wholesale versions already feature on the FSSC’s new recommended list.