Meeting Regulatory Requirements

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There are currently no qualification requirements for those managing investments for institutional clients. However, from January 2018 investment managers need to meet the MiFID II/ESMA criteria for staff 'giving information'.


  • Many asset management firms already choose  to follow the guidance in the FCA Handbook and have their employees undertake qualifications as a way of demonstrating competence
  • Individuals managing investments for retail clients do have a requirement to take an appropriate qualification
  • The IMC is the appropriate qualification offered by CFA UK. This covers various activities including ‘managing investments’. It can also be used in combination with the CFA program to meet the FCA exam standards for those working as Retail Investment Advisers
  • Over 5000 sittings take place a year of IMC examinations. Approximately 25% of candidates take the qualification for regulatory reasons.
  • MiFID  II came into force on 3 January 2018 and includes new training and competency requirements for those ‘giving information’ or ‘giving investment advice’.
  • Firms are categorising  their investment managers  as ‘information givers’.
  • The IMC provides an excellent solution for ‘information givers’ seeking to meet the MiFID II/ESMA knowledge and competency criteria 


Navigating and interpreting a course of action to meet the training and competency requirements is complex. These guides provide you an overview of the requirements and how the IMC qualification can support your needs.      

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