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

FASEA Opening Statement Senate Estimates Economics Legislation Committee

MEDIA RELEASE FASEA appeared at the Senate Estimates Economics Legislation Committee on the 2 June 2021.  FASEA's opening statement can be found here.The Financial Adviser Standards and Ethics Authority Limited was established in 2017 to...

FASEA approves Degrees offered by Southern Cross University and Australian Institute of Management

MEDIA RELEASE FASEA has today confirmed the approval of the following degrees: Any bachelor with a major in Financial Services offered by Southern Cross University commencing March 2021. Graduate Diploma of Financial Planning offered by...

FASEA releases March Exam Results

MEDIA RELEASE FASEA today released exam results from the eleventh Financial Advisers Exam held March 2021. Result highlights include: Over 13,500 advisers have passed the adviser exams held to date representing 65% of advisers on ASIC’s...

FASEA releases January Exam Results

MEDIA RELEASE FASEA today released exam results from the tenth Financial Advisers Exam held January 2021. Result highlights include: Over 12,000 advisers have passed the adviser exams held to date representing 57% of advisers on ASIC’s...

Update from FASEA on the Financial Adviser Exam

MEDIA RELEASE Since June 2019, the exam has been offered 10 times in person and online with 11241 candidates (89%) successful to date. The exam will be offered a further 5 times in 2021 with 1900 candidates already registered for March....

FASEA Update: Helping Advisers Prepare for the Exam

MEDIA RELEASE With five Exam sittings remaining for existing advisers to sit and pass the exam, FASEA draws Advisers’ attention to support and materials available to assist their Exam preparation. Pre-Exam Webinar Series Advisers who book...

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.