BAFE fully appreciate that there are experienced individuals working within BAFE SP203-1 Registered Organisations. The updated competency requirements introduced in August 2023 now require the nominated Lead Individual(s) to be appropriately qualified. This does not mean that individuals are required to undertake training, but only to achieve the required level of regulated qualification if this is not held to evidence this knowledge. If you (or your nominated Lead Individuals) are confident that you would pass an exam without training prior to this, please enquire with appropriate training providers to see if they would permit you to take the exam only. We trust this clarification will help in reducing any concerns regarding this requirement in the BAFE SP203-1 Scheme Document.

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