In terms of the Fit & Proper requirements (BN194), CPD for regulatory (FSCA) purposes was officially implemented as a requirement. This means advisors are obliged to perform CPD activities towards regulatory (FSCA) CPD requirements during a CPD cycle, which is a period of 12 months commencing on 1 June of every year and ending 31 May of the following year. The end of the cycle is therefore fast approaching.
One of the questions we all have is “How many hours of CPD must I complete?”
This will depend on your role and the development needs identified for you by your FSP. In terms of BN194 of 2017, the minimum CPD hours required are:
|If you render financial services for…||Then you must complete a minimum of…|
|a single subclass of business within a single class of business||six hours of CPD activities per CPD cycle|
|more than one subclass of business within a single class of business||12 hours of CPD activities per CPD cycle|
|more than one class of business||18 hours of CPD activities per CPD cycle|
Moonstone offers various events that are CPD accredited. Visit the Moonstone Event page for more information on the opportunity to attain 6 CPD hours.
More questions about CPD – click here to access a detailed FAQ document which contains details of how you can, for instance, register to obtain CPD hours by reading the two Moonstone newsletters.