The Financial Services Authority has outlined its plans for Statements of Professional Standing after fears advisers would miss the deadline.

Many advisers have been doubtful of whether they would receive their SPS in time for the RDR deadline of 31 December 2012.

But in a newsletter from the FSA, the body said advisers have up to 60 days after the deadline to obtain their SPS.

The statement read: “There has been concern among the industry that advisers may not receive the SPS before 31 December 2012. We have allowed some flexibility for the issuing of SPS, in that firms have 60 days from 31 December 2012 to get the independent verification needed.

“Some bodies have publicly said they will start to issue SPSs much earlier than end-2012. Advisers who have attained an appropriate qualification earlier than end-2012, and are able to declare that they have complied with APER, may wish to take advantage of the early availability of SPSs.”

There are currently six accredited bodies able to issue SPSs.

These are the Institute of Financial Planning, the Institute of Financial Services, Chartered Insurance Institute, Chartered Institute of Bankers in Scotland, Chartered Institute for Securities and Investments and CFA Society of the UK.

The IFP will be offering SPSs to its members from February 2012 but members can already submit qualification and gap fill records for verification prior to this date.