CPD FAQs

I’ve heard the term ‘structured’ and ‘unstructured’. Can you please explain structured versus unstructured CPD hours?

The Stockbrokers And Financial Advisers Association no longer distinguishes between ‘structured’ and ‘unstructured’ hours. Individuals simply undertake 20 hours of CPD, 8 of those hours being regulation and compliance CPD. It is a Stockbrokers And Financial Advisers Association CPD Guideline that the total 20 CPD hours undertaken must include an assessable outcome.

 

I believe that 8-hours of the 20-hours CPD must be compliance – is this correct?

Yes

 

I am the Compliance Manager at a firm and we have a recently recruited a new staff member who has records to show that she has completed 15 hours of CPD (4 those hours being compliance). 

As the Licensee, you will need to determine that you are satisfied with the previous CPD undertaken at the previous place of employment. If you are satisfied, then yes you are correct in the staff member making up the extra hours to the CPD requirement in the CPD year. If you are not satisfied with the previous CPD undertaken, the staff member will be required to complete 20 hours of CPD, 8 of which is compliance CPD. This will need to be done in the CPD year.

 

I understand I need to do 20-hours of CPD per year. How does this compare with other bodies like the FPA, Chartered Accountants etc?
We believe our CPD hours are very similar to those required by other professional bodies. The Stockbrokers And Financial Advisers Association recognises CPD issued by other associations. Individuals are not expected to participate in ‘CPD overload’ by having to complete separate hours to meet the CPD requirements for other associations.

 

I work part time and have only a small number of retail clients. Do I still have to complete the 20-hours?

Yes, 20 hours of CPD per annum is the minimum for practitioners to maintain competency. This requirement applies to all people, no matter how many hours they work.

 

How do I keep track of my CPD hours?

It is important to keep a copy of all confirmations, attendance records, certificates, receipts, enrolments and/or program outlines. It is your responsibility to ensure that such documents are collected by you at the time of issue. Whether you keep them or rely on a third party, i.e. your employer, is up to you. Your employer will also keep records of all CPD hours delivered internally by them on your personnel file. If you are attending external CPD programs you should ensure you give your employer a copy of any relevant CPD paperwork.

The Stockbrokers And Financial Advisers Association has a CPD Training Register template document that you may want to use to record your CPD. Simply download the document, complete the document, and attach all relevant documentation.

 

How many hours (approximately) will I need to complete my Margin Lending Accreditation? Will I get CPD points for successfully completing it?

Please refer to the following table (which is found in the Student Handbook) which refers to suggested study time for each accreditation and CPD point allocation for each accreditation.

Accreditation Recommended Study Hours (for total program) Continuing Professional Development (CPD) Allocation
Core 1 Allow up to 150 hours 20 hours of CPD (including 8 hours Compliance CPD)*
Core 2 Allow up to 80 hours 20 hours of CPD (including 8 hours Compliance CPD)
Superannuation Allow up to 150 hours 20 hours of CPD (including 8 hours Compliance CPD)
Derivatives Allow up to 150 hours 20 hours of CPD (including 8 hours Compliance CPD)
Managed Investments Allow up to 75 hours 10 hours of CPD (including 6 hours Compliance CPD)
Securities Allow up to 75 hours 10 hours of CPD (including 6 hours Compliance CPD)
Margin Lending Allow up to 90 hours 10 hours of CPD (including 6 hours Compliance CPD)

*note, only CPD hours can be claimed once candidate is already RG146 compliant. CPD points may not be claimed if candidate is undertaking Core 1 Accreditation to become compliant.

 

If I attend the Annual Stockbrokers And Financial Advisers Conference will I receive CPD points?

Yes, in the conference registration booklet we will clearly identify the program and the number of CPD hours, including the regulation and compliance component, that will be allocated for each of the conference sessions.

 

Some of my staff are planning to undertake the FPA’s CFP or CFA Program. Will these qualify as CPD?

On successful completion – yes.

 

I attend a number of conferences, conventions, congresses, forums, seminars, lectures, workshops etc. My life is very busy and I am sure by the end of the year I will have spent more than 20 hours at these events.

By keeping confirmations, course outlines, statements of attendance from the facilitators, receipts, enrolment records, copies of programs etc. and also detailed diary notes, individuals will no doubt surprise themselves with how many CPD hours they accumulate in one year.

 

Our firm produces a number of technical market commentaries. Will reading these be counted as CPD?

Reading and researching technical journals, in-house research, reports etc. are counted as CPD. You may want to use the Stockbrokers And Financial Advisers Association of Australia’s CPD Reading and Research Register template to calculate the amount of hours you may claim.

 

We attend presentations from companies such as pre-float presentations. Will these count for CPD?

No

 

We have been approached by a bank who provides a margin lending product. They want to present to our staff. Will this produce CPD hours?

Our position is that if the presentation is simply product selling, then no CPD hours should be issued at all. If there is a learning outcome, i.e. the provider has a Q and A which they collect and check off, then it should qualify as CPD. The provider must provide learning outcomes and have an assessment.

We will be relying on the integrity of the provider in these matters. Given ASIC has the power to audit all CPD arrangements/certificates etc. then we expect most providers involved in the program will toe the line.

 

I understand there are commercially available online CPD training programs available. Will these count towards CPD?

Yes, provided they are appropriate to the knowledge, skills and assessment needs for the individual practitioner’s activities, they deliver an outcome, and they are acceptable to your Licensee. CPD hours will be allocated by the provider.

 

My employer runs regular training programs on our internal IT systems, research, back office IT etc. Will these produce CPD hours?

Yes, 1 hour for 1 hour if sessions produce a learning assessable outcome. If not, the programs will not qualify for CPD.

 

How many CPD hours can I claim upon successful completion of the National DTR Accreditation?

Candidates who successfully complete the National DTR Accreditation (online exam + oral assessment) may claim up to 10 hours of Continuing Professional Education (CPD). These hours may be claimed as compliance CPD.