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.

CPD Policy

CPD Requirements

CPD Log Book template

Guide to a CPD Log book template

CPD Legislative Instrument & Explanatory Statement

FAQ’s

FASEA approves additional historical and new degrees and bridging courses

Historical degree – University of Canberra FASEA has today confirmed its approval of the historical Graduate Diploma in Financial Planning for University of Canberra commenced between 1 January 2003 and 31 December 2005. Advisers who have...

FASEA approves additional Recognition of Prior Learning for FPA and CPA

The Standards Authority has approved additional applications for recognition of coursework undertaken to attain a professional designation from the Financial Planning Association (FPA) and the Certified Practicing Accountants (CPA)....

FASEA welcomes reappointment of directors

MEDIA RELEASE The Financial Adviser Standards and Ethics Authority (FASEA) notes the Government’s reappointment of Professor Mark Brimble and Dr. Simon Longstaff AO as part-time directors of FASEA for a further three-year period...

Guidance on CPD compliance arising from COVID-19 business disruption

MEDIA RELEASE The Financial Adviser Standards and Ethics Authority (FASEA) has received enquiries relating to operation of CPD requirements resulting from current COVID-19 business disruption. FASEA recognises the challenges presented by...

Adviser Exam Sittings: FASEA to cancel face to face April Exam and substitute with remote online options

MEDIA RELEASE The Financial Adviser Standards and Ethics Authority (FASEA) understands and appreciates the unprecedented nature of the COVID-19 global pandemic and its evolving impact in Australia on the business as usual routine of...

April 2020 Exam – ACER Advice on Coronavirus COVID-19

ACER takes the health and wellbeing of all the people we interact with seriously. Many of our tests bring together large groups of people and some candidates travel from overseas locations. These factors present potential risks following...

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.