Most private bankers in Singapore meet competency assessment requirement: IBF

THE Institute of Banking and Finance Singapore (IBF) on Tuesday said that all private banks have sent their private banking professionals to undertake relevant Continuing Professional Development (CPD) programmes.

Most of them - or 99.7 per cent - have also fulfilled the minimum requirement of at least 15 hours of client advisor competency standards (CACS) under CPD programmes. In 2011, under the Private Banking Code of Conduct, the industry committed to having all private banking professionals pass CACS - a common competency assessment - before they provide any financial advice.