The FSCA has published the following exemption on its website:
The Exemption from Continuous Professional Development Requirements, 2019 – No 2 of 2019
The purpose of the Exemption is to allow financial services providers, key individuals and representatives until 31 July 2019 to comply with the Continuous Professional Development requirements set out in the Determination of Fit and Proper Requirements for Financial Services Providers, 2017, in respect of the current 2018 CPD cycle. The effective date of the Exemption is 1 June 2019.
It should be noted that –
|a.||the Exemption does not detract from the CPD hours required for the next CPD cycle, i.e. 1 June 2019 until 31 May 2020;|
|b.||the Exemption does not impact the period of the 2019 CPD cycle. In other words, the 2019 CPD cycle will still commence on 1 June 2019 and end on 31 May 2020;|
|c.||the CPD hours completed for the 2018 CPD cycle in the exemption period (1 June 2019 until 31 July 2019), cannot be calculated towards the 2019 CPD cycle; and|
|d.||CPD hours completed in the exemption period (1 June 2019 until 31 July 2019) by those who already complies with the CPD requirements for the 2018 CPD cycle, will be awarded towards the 2019 CPD cycle.|
A CPD communication will be published on the FSCA’s website in due course. This communication will provide general guidance on the applicability of the CPD requirements.
Click here to download FSCA FAIS Notice 40 of 2019.