UK-based advisers transferring to Ireland, who hold the CISI’s Investment Advice Diploma (IAD), will now be exempt from three modules of the Qualified Financial Advice Diploma (QFA).
The agreement with Ireland’s Institute of Banking (IOB) is also expected, following further talks, to extend to include mutual recognition for those Irish financial advisers possessing the QFA Diploma working in the UK and Northern Ireland.
The Institute of Banking (IOB) in Ireland’s QFA Diploma is the benchmark qualification approved for provision of financial advice in the Irish market by the Central Bank of Ireland.
Frank O’Riordan, president of the CISI Ireland branch committee said: “We are extremely pleased to be working with the Institute of Banking and delighted to have achieved this important milestone.
“We are very supportive of the concept of mutual recognition of capital markets qualifications to make it as seamless as possible for practitioners and firms to move between jurisdictions, while maintaining high standards of professionalism.”
In addition to London and Dublin, CISI has representative offices in financial centres including Singapore, Hong Kong, Manila, Dubai, Barcelona, Mumbai and Colombo, working in close cooperation with regulators, firms and other professional bodies worldwide.
Over 40,000 CISI examinations were sat in 80 countries in the last 12 months, with 92% of the world’s international banks taking CISI qualifications.