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 releases June Exam Results

MEDIA RELEASE FASEA today released exam results from the sixth Financial Advisers Exam held in June 2020. Result highlights include: due to COVID-19 restrictions, the exam was held online from 11 to 16 June 84 percent of candidates passed...

FASEA confirms Adviser Exam schedule for 2021

MEDIA RELEASE FASEA has to date offered more than 340 Exam sessions and in response to Covid-19 restrictions has introduced remote sitting options for all candidates from April 2020. FASEA will run six Exam sittings in 2021. Face-to-face...

FASEA formalises three month CPD relief for advisers in recognition of COVID-19 business disruption.

MEDIA RELEASE FASEA has registered the 2020 Legislative Instrument and Explanatory Statement for its Corporations (Relevant Providers Continuing Professional Development Standard) Determination (Amendment) 2020 on the Federal Register of...

FASEA provides remote August Exam sitting option for financial advisers in Melbourne due to Covid-19 restrictions

MEDIA RELEASE Following the reimposition of Stage 3 stay at home restrictions for metropolitan Melbourne and Mitchell Shire and the closure of exam venues, FASEA advises that Melbourne metropolitan physical location exams will not be...

FASEA Opening Statement – House of Representatives Standing Committee on Economics

MEDIA RELEASE FASEA appeared at the House of Representatives Standing Committee on Economics on the 30 June 2020.  FASEA's opening statement can be found here.The Financial Adviser Standards and Ethics Authority Limited was established in...

FASEA Consultation – three month Continuing Professional Development relief

FASEA has today released Corporations (Relevant Providers Continuing Professional Development Standard) Determination (Amendment) 2020 for consultation. FASEA recognises the challenges Covid-19 business disruption presents advisers and...

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.