Continuing Professional Development Standard

The Continuing Professional Development Standard commenced on 1 January 2019. From this date all Financial Advisers are required to participate in development programs and activities that ensure they maintain and extend their professional capabilities, knowledge and skills including keeping up to date with all regulatory, technical and other developments relevant to professional financial advice.

Financial advisers are required to complete 40 hours of CPD each year of which 70% must be approved by their licensee (including a maximum 4 hours of professional reading). The minimum hours for CPD across the mandatory 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 must consist of qualifying CPD.

Transition arrangements for 2019 will be on a pro-rata basis for licensees whose CPD year does not commence on 1 January 2019.

FASEA provides relief for advisers whose ability to complete CPD requirements has been impacted by COVID-19. Advisers have been granted an additional 3 months to meet the 40-hour CPD requirement as a one-off recognition of difficulties faced this year.  Refer to CPD Relief Legislative Instrument below. 

CPD Policy

CPD Requirements

CPD Log Book template

Guide to a CPD Log book template

CPD Legislative Instrument & Explanatory Statement

CPD Relief Legislative Instrument & Explanatory Statement

CPD 3-month Relief

FAQ’s

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The Financial Adviser Standards and Ethics Authority Limited was established in 2017 to set the education, training and ethical standards of financial advisers in Australia.

 

 

The Financial Adviser Standards and Ethics Authority Limited was established in 2017 to set the education, training and ethical standards of financial advisers in Australia.