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CPD GUIDE
Understand your requirements. Complete your CPD. Stay Compliant.
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Continuing Professional Development (CPD) helps financial services professionals maintain and develop the knowledge, skills and competence required to perform their roles effectively.
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For persons subject to the applicable FAIS Fit and Proper Requirements, CPD forms part of maintaining ongoing competence.
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HOW MANY CPD HOURS DO YOU NEED?
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Your minimum CPD requirement depends on the number of classes and subclasses of business applicable to your role.
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6 HOURS
One subclass
Where you render financial services in respect of one subclass of business within a single class of business
12 HOURS
Multiple subclass
Where you render financial services in respect of more than one subclass of business within a single class of business.
18 HOURS
Multiple subclasses
Where you render financial services in respect of more than one class of business.
YOUR CPD CYCLE
1 JUNE - 31 MAY
The regulatory CPD cycle runs for 12 months from 1 June to 31 May of the following year.
WHAT COUNTS AS CPD?
Not every course, seminar, webinar or other learning activity will necessarily satisfy your regulatory CPD requirements.
CPD activities should help you maintain and develop the knowledge, skills, expertise, and professional competence relevant to your role and the financial services you provide.
Your FSP also has a responsibility to ensure that the CPD undertaken by its Key Individuals and Representatives is appropriate and relevant to their functions and activities.
Regulatory CPD
Learning undertaken to satisfy applicable ongoing competence requirements under the FAIS Fit and Proper framework
Professional Development
Broader learning undertaken to improve your knowledge, skills, expertise or professional development.
IMPORTANT:
A learning activity may be valuable for your professional development without necessarily qualifying towards your applicable regulatory CPD requirements
Not sure how many hours you need? Confirm your individual CPD requirements with your FSP or compliance function.
WHO IS RESPONSIBLE FOR CPD?
Representatives and Key Individuals
You should
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Understand the CPD requirements applicable to your role;
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Complete the required CPD within the applicable CPD cycle;
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Select CPD activities relevant to your functions and responsibilities; and
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Retain appropriate evidence of completion;
CPD Approved Programmes
Learn at your Pace
Complete programmes approved for specified CPD points where applicable.
Access your courses online and complete your learning when and where it suits you.
Practical and Relevant
Develop knowledge relevant to financial services, compliance regulation and professional development.
Verifiable completion
Your successful completion is recorded and supported by appropriate evidence
Certificate of Completion
Receive a certificate confirming successful completion of the appropriate course.
Financial Services Providers
FSP's should have appropriate policies, procedures, systems and controls to manage and monitor the ongoing competence and CPD of their key individuals and representatives.
CPD should therefore be actively monitored throughout the cycle, rather than addressed only shortly before the deadline.
BEFORE YOU START A CPD COURSE
CHECK THE CPD APPROVAL DATES AND DETAILS
CPD approval applies to a specific programme for a specified approval period. Before starting or completing a Financial Mind course for CPD purposes, check:
CPD Programme
Approval number
Number of CPD Hours
WHAT IF YOU DON'T COMPLETE YOUR CPD?
Failure to meet applicable CPD requirements may result in a person no longer meeting the ongoing competence requirements for their role.
This may require the FSP to take appropriate remedial action and could affect the person's ability to continue performing regulated functions or rendering financial services.
Failure by a Key Individual or Sole Proprietor to maintain the applicable requirements may also have consequences for the FSP
Don't wait until 31 May
Plan early. Complete your CPD. Keep your evidence. Stay Compliant
Applicable Approval Period
Current CPD Approval Status
IMPORTANT
A course appearing in your learning profile does not necessarily mean that its CPD approval is still current. If you complete a course outside its applicable CPD approval period, the course may no longer qualify for the CPD hours you intended to claim,
ALWAYS CHECK THE APPLICABLE CPD APPROVAL DETAILS BEFORE COMPLETING YOUR COURSE.
We believe in financial literacy
Financial Mind PTY (LTD) - FPI RECOGNISED CPD PROVIDER NO. 19033400
CPD REQUIREMENTS DEPEND ON AN INDIVIDUALS' ROLE AND CIRCUMSTANCES. INFORMATION ON THIS PAGE IS PROVIDED AS GENERAL GUIDANCE AND SHOULD NOT BE REGARDED AS A DETERMINATION OF AN INDIVIDUAL'S REGULATORY OBLIGATIONS.
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