CPD Update

The March edition of the ASISA publication “In the Loop” contains the following information regarding CPD developments:

The FSB published a draft, redesigned, Determination of Continuous Professional Development (CPD) on 19 December 2011. This followed numerous queries regarding the recognition of programmes and activities for the purpose of CPD. These proposed amendments also require amendments to the Determination of Fit and Proper requirements for Financial Services Providers. ASISA submitted comments on 31 January 2012.

On 3 October 2012, the FSB published a general exemption from the CPD Requirements until a date to be determined by notice in the Gazette. During November 2012, the FSB indicated that the CPD requirements will be re-designed and the consultation in this respect will commence in the first quarter of 2013.

As pointed out before, clarity around the future of the level 2 regulatory exams should be provided, as CPD is the third leg of the journey. With the level 1 exams now having reached the point where most candidates have completed it, we eagerly await news on the road ahead.

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