Ireland: Regulatory Waivers

The Regulators

Requirements to Practice and Waivers/Exemptions

Professional Certificate in Stockbroking

Passage of both the Securities and Market module and the Irish Stock Exchange's (ISE) Regulatory Market Environment module are required to earn the Professional Certificate in Stockbroking. The Professional Certificate in Stockbroking satisfies the Financial Regulator's Minimum Competency Requirements for those who wish to sell, advise on, or undertake specified activities, for the category of retail financial product Shares and Bonds and other Investment Instruments. It is also the only approved course of the ISE for gaining the designation Registered Stockbroker.

The exemption: The Institute of Banking exempts those who have passed the CFA Level I exam from the Securities and Market module required to earn the Professional Certificate in Stockbroking.

Professional Diploma in Financial Advice

The Qualified Financial Adviser (QFA) designation is awarded to those who have earned their Professional Diploma in Financial Advice.

The exemption: The QFA Board exempts CFA charterholders from two of the six modules needed to earn the Professional Diploma in Financial Advice (previously the QFA Diploma). Charterholders must submit an exemption application along with related fees in order to be waived out of the Investment and Loans modules.

Accredited Product Advisor (APA) in Savings and Investments and Loans

The exemption: The Institute of Banking will accredit CFA charterholders who have completed a required Regulation module of the QFA program as an APA in Savings and Investments and Loans. Holders of this accreditation can subsequently add other regulated areas by completing their related modules.

Continuing Professional Development (CPD) Waivers

Continued use of the QFA designation is subject to meeting certain CPD requirements. The CFA designation meets the Financial Regulator's Minimum Competency Requirements for those who wish to sell, advise on, or undertake specified activities for the following categories of retail financial products: Savings, Investment and Pension Products, Housing Loans and Associated Insurances, Consumer Credit and Associated Insurances, Life Assurance Protection Products, Shares and Bonds, and other Investment Instruments.