This Board Notice, (BN 120 of 213) published on 5 June, exempts all FSPs from having to write the level 2 REs until further notice. No rationale for this decision is contained in the Board Notice. We expect this will be forthcoming soon.
We raised this possibility in an article a few weeks ago, and said that it would also require an amendment to the regulations as far as representatives working under supervision are concerned. This is still to be addressed by the Regulator.
How does this impact on Continuous Professional Development?
Provided there is no change in approach by the FSB from the framework announced, this will take even longer to be implemented. The requirements for CPD were exempted in Board Notice 163 of 2012.
At the risk of sounding like a stuck record: unless you are required by a professional body to attend to recognised training, do not fall for promises of attaining CPD points “as required by the FSB”.
You should, of course, keep learning, but at your own discretion, based on your identified needs. Beware of wolves in sheep’s clothing.