FASEA has announced the release of its legislative instrument on continuing professional development following its consultation process.
Under the standard, FASEA proposes advisers are required to complete 40 hours of CPD each year, 70 per cent of which will need to be approved by the licensee (including a maximum four hours of professional reading), FASEA said in a statement.
The minimum hours for CPD categories are:
The balance up to 40 hours will consist of qualifying CPD.
Also, transition arrangements for 2019 will be on a pro-rata basis for licensees whose CPD year is not a calendar year.
“We welcome stakeholder feedback as we move to the final stage of development for the CPD standard and it will be reviewed prior to release of the final standard,” said FASEA chief executive Stephen Glenfield.
The legislative instrument was informed from 35 submissions received during FASEA’s consultation process for this standard in July and August 2018.
All feedback and submissions on the legislative instrument are due by 7 December 2018.
Salaries for experienced advisers are expected to rise by more than 20 per cent ...
Adviser numbers could drop to as low as 15,000 by the end of 2021 if more practi...
Retail and ethical funds are among the top balanced funds in 2020’s super perf...