Financial Advisory and Intermediary Services Act 2002 (Act No. 37 of 2002)DeterminationsDetermination of Fit and Proper Requirements for Financial Services Providers, 2017Chapter 4 : Continuous Professional Development33. Minimum CPD hours |
| (1) | An FSP, key individual and representative authorised, approved or appointed to render or manage or oversee the rendering of financial services in respect of— |
| (a) | a single subclass of business within a single class of business must complete a minimum of 6 hours of CPD activities per CPD cycle; |
| (b) | more than one subclass of business within a single class of business must complete a minimum of 12 hours of CPD activities per CPD cycle; or |
| (c) | more than one class of business must complete a minimum of 18 hours of CPD activities per CPD cycle. |
| (2) | Key individuals and representative must submit evidence of their CPD activities to the FSP within 15 days after expiry of the CPD cycle. |
| (3) | An FSP, key individual and representative must ensure that the CPD activities are tailored to meet the specific knowledge and skills, needs and/or gaps arising from changing internal and external conditions having cognisance of classes and subclasses of business and the financial product category for which it is authorised, approved or appointed. |
| (4) | An FSP, key individual and representative that is authorised, approved or appointed for a period of less than 12 months in a particular CPD cycle, must by the end of that CPD cycle complete a pro-rated minimum number of CPD hours calculated as follows: |
(X ÷ 12) x Y = Z |
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