FASEA consulting on 3-month CPD relief
To assist advisers to meet their continuing professional development (CPD) requirements during the COVID-19 pandemic, FASEA is consulting on its proposal to grant advisers an additional three months to meet the 40-hour CPD requirement.
The draft for the Corporations (Relevant Providers Continuing Professional Development Standard) Determination (Amendment) 2020 proposes if a relevant provider’s CPD year includes 18 March, 2020, an additional three months would be added.
Stephen Glenfield, FASEA chief executive, said: “FASEA understands that meeting CPD has been difficult given the business disruption caused by COVID-19 and is seeking to reduce advisers concern regarding meeting minimum requirements this CPD year. FASEA welcomes stakeholder feedback on this proposed relief".
All feedback and submissions on the legislative instrument can be submitted to FASEA by 1 July, 2020.
AUTHOR
Chris Dastoor
Recommended for you
Financial Services Minister, Stephen Jones, has assured the cost and time to enter the financial advice profession will soon be halved, as shadow treasurer Angus Taylor pledges to reach 30,000 advisers.
The positive results of the latest financial adviser exam have helped the advice profession reach 15,600 yet again, according to Wealth Data analysis.
Financial advice firms have told Adviser Ratings they are planning to increase their compliance spend by almost a third, including on enhancements to their cyber security which ASIC has identified as an enforcement priority.
The digital advice platform is officially launching into the financial advice sector, offering up its services to practices as a means of engaging with the next generation of clients.
