BC-11.1.1

All banks must ensure that staff members who provide financial advice to customers are enrolled in the BIBF Financial Advice Programme (“FAP”). Staff members with less than three years of experience must be enrolled for the foundation level course while staff members with three to five years of experience must be enrolled in the Level 2 programme. Staff members with five years of experience must be enrolled for the Level 3 FAP programme. However, FAP is not mandatory for employees who occupy controlled functions or employees who have the Chartered Financial Analyst (CFA) or the Certified Financial Planner (CFP) qualifications.

Amended: July 2022
Added: October 2018