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 approves Courses offered by Victoria University

MEDIA RELEASE FASEA has today confirmed the approval of a new Graduate Diploma of Financial Planning offered by Victoria University.  Advisers who complete this course of study will meet the education standard. In addition, FASEA approves...

Over 16,000 pass the Financial Adviser Exam

MEDIA RELEASE FASEA today released exam results from the 13th Financial Advisers Exam held in July 2021. Result highlights include: Over 16,030 advisers have passed the adviser exams held to date. Of those who have passed: 14,070 are...

FASEA releases Corporations (Relevant Providers Exams Standard) (Amendment No. 1) Determination 2021

MEDIA RELEASE FASEA has registered the Corporations (Relevant Providers Exams Standard) (Amendment No. 1) Determination 2021 on the Federal Register of Legislation. The Determination was informed through 8 formal submissions during...

14,850 advisers have passed the exam… building consumer confidence in the financial advice industry

MEDIA STATEMENT FASEA congratulates the 14,850 financial advisers who have sat and passed the relevant providers exam before the end of June 2021 representing close to 70% of active advisers on the Financial Advisers Register (FAR). These...

FASEA releases draft amendments to the Education Legislative Instrument

MEDIA RELEASE Since September 2020, FASEA has approved five current degrees, four bridging courses and one historic degree as recognition of prior learning. In announcing those approvals, FASEA noted they would be added to a future...

FASEA Consultation – relief from 3 month registration requirement for November 2021 Financial Advisers Exam

MEDIA RELEASE FASEA has today released Corporations (Relevant Providers Exam Standard) Determination 2019 Amendment for consultation. The draft amendment proposes relief from the 3 month registration requirement for November 2021 exam...

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.