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About the FAnews CPD system - Q&A

22 May 2019 Rianet Whitehead

We are IISA members. Do you send our records to the IISA? If yes, how often?

Yes, we send your records to the IISA. The records are sent once a month, at the end of the month.

Will the IISA upload my record of articles done and provide any records if I am not IISA member?

No, the IISA will only upload the information and profile records if you are an IISA member.  

You categorise the CPD activities into FPI, IISA and TIA. Please clarify how this works in terms of short term and life/investments?

If you do short term insurance, you will have to do the IISA and TIA (The Insurance Apprentice) questionnaires and if you do life, investments, employee benefits etc you do the FPI questionaires. 

Is there a limit to the amount of CPD Hours I can allocate to Professional Reading?

No, for now the FSCA requirements does not state anything about the allocation of hours not Professional Reading.    

I am a short term insurance broker. I am not a member of IISA or FPI, only a member of FIA.  

Please confirm if the FAnews magazine, IISA CPD hours activity offered online qualify for regulatory CPD accreditation for fit and proper competence requirements and that it is in line with the criteria as set out in Board Notice 194 of 2017 – the Determination of Fit and Proper Requirements for Financial Services Providers, applicable from 1 June 2018 section 32(1)(c) and comply with the regulatory CPD requirements for fit and proper?

In the Board Notice 194 of 2017 the FSCA requires that all and any regulatory CPD activities be approved by a Professional Body. This is reflected in the Definition of a CPD Activity in the Board Notice.  The FAnews magazine is approved by both the IISA and the FPI who are Professional Bodies. Section 32 states that CPD activities are:

  • Market trends
  • Risk updates
  • Legislative update 

FAnews’ purpose is to provide readers with these updates in written form and make that available through our online platform for Regulatory CPD purposes.  What the Professional Bodies deem as relevant for Professions is beyond the scope of what the FSCA requires and therefore beyond what FAnews provides. 

The FSCA does not require professional body membership of anyone in the industry in the current regulations and therefore this is irrespective of whether the affected 140 000 people are members of professional bodies or not.  Any CPD that befits the requirements of Section 32 of Board Notice 194 of 2017 must be approved by a professional body.  The FIA is not a professional body but an industry association and as such approach the IISA and FPI for approval of their events to comply with the same requirements 

I have completed two online assessments of the FAnews magazine for CPD hours as a test run. The dashboard states the results will be sent to IISA. I do not belong to IISA or FPI, so will these assessments count towards the 18 CPD hours I need to get each year, or does this assessment only count towards the professional points an IISA or FPI member needs to get each year for their membership?

Yes, it will apply for the FSCA requirements and is not only for Members of the Professional Bodies. 

Will I get a certificate after each assessment as proof of completion?

Yes, you can print your own certificate from the FAnews CPD system. 

I note on your website that you provide IISA CPD. Does that mean that your CPD hours on offering would only be valuable to accrue your CPD hours when you are a member of a professional body such as IISA? Thus, is it professional CPD or approved for FAIS CPD?

Although there is no official definition for FAIS CPD, the CPD Hours offered by FAnews falls under FAIS approved CPD hours.

Will I receive confirmation that I have received/completed the three online CPD hours?

A report is generated every month end and sent directly through to the IISA. If you are not an IISA member, you can download the report yourself. 

Do I have to complete all the questionnaires per edition to earn CPD hours, or are the hours awarded per individual questionnaire completed?

Although hours are awarded per questionnaire completed, we advise you to do all the articles for the specific edition in order to receive the optimal amount of hours. The short answer is that you earn the hours for the articles you have completed.   

Can I earn CPD hours for the FAnews newsletters?

No, the FAnews newsletters do not carry any CPD hours.

Can I earn CPD hours for the FAnuus (Afrikaans) magazine?

No, the FAnuus does not carry CPD hours, only the FAnews magazine. 

Can I earn CPD Hours from any activity or professional reading prior to the start of the cycle ie the February 2018 edition of FAnews?

No, you cannot earn any CPD hours of any activity or professional reading before the start of the current cycle. It will not be accepted. 

Do I have to be a member of the IISA or the FPI to get CPD hours after completing the FAnews questionnaires?

No. In the Board Notice 194 of 2017 the FSCA requires that all and any regulatory CPD activities be approved by a Professional Body.  The FAnews magazine is approved by both the IISA and the FPI who are Professional Bodies. Therefore, you will still get the points. 

The FSCA does not require professional body membership of anyone in the industry in the current regulations and therefore this is irrespective of whether the affected 140 000 persons are members of professional bodies or not.  Any CPD that befits the requirements of Section 32 of Board Notice 194 of 2017 must be approved by a professional body. 

I am not a member of the IISA or the FPI. Will the assessments that I do through the FAnews count towards my 18 CPD hours I need to get each year? Or does this assessment only count towards the professional points an IISA or FPI member needs to get each year for their membership?

In the Board Notice 194 of 2017 the FSCA requires that all and any regulatory CPD activities be approved by a Professional Body.  The FA News magazine is approved by both the IISA and the FPI who are Professional Bodies. Therefore, you will still get the points towards your 18 hours that you need to get each year.  

The FSCA does not require professional body membership of anyone in the industry in the current regulations and therefore this is irrespective of whether the affected 140 000 persons are members of professional bodies or not.  Any CPD that befits the requirements of Section 32 of Board Notice 194 of 2017 must be approved by a professional body. 

How do I download and print my own report?

You can download your CPD certificate by following the process below:

  • Simply log in https://www.fanews.co.za/login. Use your unique log in detail.
  • Go to your completed questionnaires,
  • Insert your date range and click SUBMIT and a new tag will open with the certificate,
  • OR you can download the certificate per edition as the publications are listed below the above as well.

 I have completed articles in the December 2018, February 2019 and April 2019 editions. How do I go about to see the progress made and how many CPD hours have been earned to date? 

There are six questions per questionnaire. Each question is worth 0.5 CPD hours. If you complete all six questions per edition, you earn 3 CPD hours. On your profile, there should be an indication regarding how many questionnaires you have completed.

One questionnaire = 3 CPD hours
Two questionnaires = 6 CPD hours
Three questionnaires = 9 CPD hours
Four questionnaires = 12 CPD hours
Five questionnaires = 15 CPD hours
Six questionnaires = 18 CPD hours 

Why does my certificate not state that it is FAIS CPD Hours?

There is no official definition for FAIS CPD Hours according to the FSCA Board Notice, so although it is recognised as FAIS CPD Hours we cannot state is as there is no definition for it. 

Please advise how do I subscribe to receive the Magazine electronically to obtain CPD hours?

You first need to create an online profile with the FAnews before you can earn CPD Hours. To do this, visit www.fanews.co.za. The last option on the grey menu bar says CPD. Click on it. You should be taken to a page where you can either log into your profile or create a new profile. Profiles can be created free of charge. Once you have created a profile, you can answer questionnaires to earn CPD hours. To download an electronic copy of the FAnews, visit www.fanews.co.za. Towards the right of the screen next to The Stage are two revolving wheels. The one on the extreme right gives you the option to download the latest edition of the magazine.

 

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