If a Staff Member did not meet the CPD requirements for a Tier 1 product, can they be appointed as a Staff Member for a Tier 2 product? (MSS)

Correct. If a staff member is appointed to provide financial services solely for Tier 2 products, they are not obligated to comply with the CPD requirements. Tier 2 products typically have a lower level of complexity and risk compared to Tier 1 products.

However, if the staff member intends to be appointed in respect of Tier 1 products again, they must fulfill the CPD requirements before they can resume providing services for Tier 1 products. This ensures that they have maintained their competence and knowledge in the more complex and higher-risk Tier 1 product category.

The CPD requirements act as a prerequisite for staff members to handle Tier 1 products, serving as a mechanism to ensure ongoing professional development and expertise in areas that demand a higher level of knowledge and skill.

It is important for staff members to understand the specific requirements applicable to the products they are authorized to deal with and to adhere to their CPD obligations when transitioning between different product categories.