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Breaking news: CPD 2018 cycle extended

31 May 2019 Rianet Whitehead

On Thursday 30 May, the Financial Sector Conduct Authority (FSCA) released a notice, FSCA FAIS Notice 40 of 2019, effectively extending the CPD cycle for 2018 until 31 July 2019. The 2018 CPD cycle is supposed to end on 31 May 2019. 

The notice stated, financial services providers, key individuals and representatives are exempted from CPD requirements, in respect of the 2018 CPD cycle, until 31 July 2019. 

 

CPD… be proactive, not reactive

When the news broke, many were relieved as it means that they have more time to catch up on those CPD hours they did not manage to obtain. 

Others on the other hand, have questioned why individuals were unable to fulfil the requirements by the original deadline, because they had 12 months to complete CPD activities and these activities take place in many different ways, providing a wide array of options. 

However, as most will agree, time gets away from us, and in the blink of an eye, the CPD cycle has come and almost gone, and we still have the few lagging behind… not to mention, 1 June 2019 marked the start of the new CPD cycle. 

Although some people see this as a ‘burden’ and a tick box exercise, failure to prioritise compliance comes at a high cost so, instead of waiting for the last minute to get everything crammed in, let’s be proactive and not reactive and implement the necessary actions both timeously and effectively! 

Claim up to three CPD hours per FAnews edition

The FAnews publications will satisfy your financial planning and insurance curriculum, notwithstanding the fact that all our CPD content meets FAIS requirements and will satisfy all Classes of Business.

FAnews offers you IISA (Insurance Institute of South Africa) or FPI (Financial Planning Institute of Southern Africa) approved CPD hours.Our CPD platform is user-friendly, simple to register and seamless. You do not have to be an IISA or FPI member to complete the CPD hours by FAnews, it is simply approved by them. To register online to obtain your CPD hours simply follow these instructions: 

  1. Go onto our website, fanews.co.za;
  2. On the light grey bar, click on the CPD;
  3. Scroll down to where you need to register/login;
  4. Register by filling in your personal details;
  5. Once you have registered you will receive an email, please note it may take a few hours for the email with the link to come through to you, once you receive it please click on the link in the email to complete the registration; and
  6. Log-in using your email and password.

Once you have logged in, click on what you would like to complete and what is relevant to you, download the edition or read it online, and answer the multiple-choice questions related to each article listed and click submit.

Short term (IISA approved)

Long term (FPI approved)

FAnews will also be placing the June edition online, once it has been published. Please note after the 31 July deadline, all the FAnews and TIA articles will be removed from the CPD system as you can only do articles etc. that are relevant to the current CPD cycle.

Additional - The Insurance Apprentice (short term)

In order to receive your CPD hours, you are required to complete all the questionnaires per edition. However, if you get one or more questions wrong you can try again. If you have questionnaires that you started but never completed, you can click on uncompleted questionnaires and once you have done the questions, click on View completed. To get your certificate, click on ‘download’ certificate, then you can print your certificate and hand it to your compliance officer. You need to get 100% to pass.

We do send records to the IISA at the end of each month, so if you are an IISA member, we will send it directly to them. 

FAnews Hub- an added cost effective CPD service

On top of our free offering, we have a digital CPD service for financial professionals, especially those specializing in investments and life. All of our readers can easily access accredited CPD content in the form of videos, podcasts and reading, off their phones, tablets or PCs, both online and offline. This unique service also allows users to aggregate CPD points from multiple CPD service providers, to manage an efficient centralised CPD scorecard, like a competence register. 

All the content available on the CPD Hub is accredited by the FPI and IOBSA, and verifiable through the online assessments at the end of each module. Upon completion of each assessment, users will receive a certificate. Depending on the package you choose off the HUB, the certification may be aggregated into one concise CPD certificate or a central register as available via the platinum package to make life easier. 

For as little as R499, you can access the RDR podcast series by Kobus Klein and earn three CPD hours by listening to one of the most relevant regulatory topics affecting all FSP’s today. Here you will be also exposed to 20 diversified investment strategies (traditional, passive, boutique), delivered by award-winning asset managers ensuring you are better informed about investing. You will also be able to access the FAnews publications. 

Click here to visit the FAnews CPD HUB and get started with the mandatory Ethics and Practice Standards (three to five hours). 

FAnews is here to support you

FAnews is here to support you as you progress with your career, and on your journey in professional development. 

If you would like assistance with registration for CPD hours or anything related to obtaining your CPD hours, please feel free to contact us on 011 768 2299.

Editor’s Thoughts:
We assume there are people who are happy that this exemption has come into place, as it gives them time to catch up on those last few CPD hours they required. However, as one CFP said, “This does so much more harm than good. Not only to the FSCA, but the financial services industry in its entirety. Everyone had 12 months to comply and there was no lack of opportunity or content to fulfill the requirement. How do we evolve into a full-blown profession if the regulator cannot stick to their guns?” Do you agree? Please comment below, interact with us on Twitter at @fanews_online or email me your thoughts editor@fanews.co.za.

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