Continuous Professional Development (CPD) Fit & Proper - Awareness Training Board Notice 194 of 2017

Continuous Professional Development (CPD) Fit & Proper - Awareness Training Board Notice 194 of 2017.

Agenda. Legislation Definition Who must comply The CPD process Approach toward relevant and verifiable content Gap Analysis, Agreed CPD Plan Final Documented CPD cycle plan CPD Cycle, Hours required Submit a record of your activities to the FSP Non-compliance Policy – Draft Template.

Legislation - Board Notice 194 of 2017, Fit & Proper Continuous Professional development requirements for Representatives and Key Individuals.

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Who must comply. The FSP and ALL Key Individuals; and Any representative who is no longer under supervision , and authorised by the FSP in terms of their Section 13 Letter of Authority , also containing an expiry date necessary for review of performance and compliance status in terms of the Statutory Fit & Proper requirements; F or all or some of the subcategories for which he or she is appointed , is required to complete the applicable minimum amount of CPD activities (minimum number of hours per cycle), F or the subcategories for which he or she is no longer under supervision . Exemptions Representatives only appointed to render financial services in respect of Long-term Insurance subcategory A and/or Friendly Society Benefits. R epresentative of a Category I Financial Services Provider (FSP) is not required to complete CPD if: only appointed to render a financial service in respect of a Tier 2 financial product only and/ or render an intermediary service only in respect of a Tier 1 financial product..

The CPD Process. Continuing Professional D evelopment , or CPD, is the ongoing process of developing, maintaining and documenting your professional skills that may be obtained Formally - courses or training, or informally, on the job or by watching others. Continuing Professional D evelopment , or CPD also refers to t he need for professional development, engagement, and or activity through a specifically determined manner and approach. statutory requirements to maintain your authorisation granted by the FSP which you representative a general commitment to learning and improving and is generally expected of anyone in a professional capacity ..

Approach towards relevant and verifiable content.

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Final Documented CPD Cycle Plan. Board Notice 194 of 2017, fit & Proper i.e. CPD requirements Enable | Enhance | Empower.

CPD Cycle & Hours Required. The CPD cycle occurs for 12 months every year, from 1 st of June and ends on the 31 st of May. We are almost half-way through the current CPD cycle. This means that any representative that is required to complete CPD activities must complete the minimum number of hours of CPD activities by the 31 st of May 2022..

Submit a record of your activities to the FSP, within 15 days after expiry of the cycle FSPs, KIs, Representatives must keep and maintain evidence and an up-to-date competency register.

Non-compliance. Board Notice 194 of 2017, fit & Proper i.e. CPD requirements Enable | Enhance | Empower.

Policy – Draft Template. Board Notice 194 of 2017, fit & Proper i.e. CPD requirements Enable | Enhance | Empower.

Questions. The Compliance Toolbox JP Authorized Compliance Officer (CO 4073 & CO 7485) e-mail : jp @ctb.co.za tel : 011 794 1189 (landline) 011 028 2282 (backup).