ABN 48 618 495 828
Back

Continuing Professional Development Legislative Instrument

This consultation process has now been completed

22/11/2018 - 07/12/2018

CONSULTATION CLOSED

FASEA proposes advisers are required to complete 40 hours of CPD each year of which 70% will need to be approved by the licensee (including a maximum 4 hours of professional reading). The minimum hours for CPD categories are:

Technical – 5 hours

Client Care and Practice – 5 hours

Regulatory Compliance and Consumer Protection – 5 hours and

Professionalism and Ethics – 9 hours

The balance up to 40 hours will consist of qualifying CPD.

Transition arrangements for 2019 will be on a pro-rata basis for licensees whose CPD year is not a calendar year.

 

Consultation Feedback

The legislative instrument was informed from consultation received through 35 submissions during FASEA’s consultation process for this standard in July and August 2018.

During the submission period FASEA consulted with key stakeholders representing industry associations, individual financial advisers, financial advice licensees, education providers and consumer representatives including facilitating consultation forums with representatives from key stakeholder groups.

MAKE YOUR SUBMISSION

FASEA invites submissions and/or comments on the draft Legislative Instrument through our dedicated consultations email (consultation@fasea.gov.au) or via our Contact Us page. 

Due date for submission: 5pm 7 December 2018