The recently published FSCA guidance note makes it very clear that the days of “tick a box” compliance is over:
It will be extremely difficult to comply with the general competence requirements without having proper policies, procedures, processes, systems and record keeping mechanisms in place. This is fundamental for continuous compliance with the competence requirements.
The principle is that the training and development that takes place in respect of CPD must be targeted, and must address any competence gaps that were identified, and/or develop additional knowledge and skills expertise where this was identified as a future need.
It is therefore clear that CPD activities must not be undertaken with the sole purpose of obtaining sufficient CPD hours to meet the CPD requirements. This approach purposefully undermines the principle that CPD aims to achieve.
This is why it is the responsibility of the FSP, key individual and representative to ensure that the CPD activities undertaken are relevant to the function and role of the FSP, key individual and representative – section 32(1)(c).
If you start now, you can take leave in December and still make your target by only spending, at most, less than two hours per month op CPD approved activities.
Why paint yourself into the corner of a rondawel at the end of the cycle when it is so straightforward?
Oh, and those people who share answers on the CPD questions from the Moonstone newsletters; we know about you. Apart from also purposefully undermining “…the principle that CPD aims to achieve”, you also expose yourself to possibly being found to lack the requirements of honesty and integrity. Really, those questions are very straightforward, and chosen specifically to highlight information which is of great value to you.
Click here to download the FSCA’s Communication 2 of 2019.