Continuous Professional Development (CPD) / Q&A

About the FAnews CPD system - Q&A

New Training Requirements and Continuous Professional Development for FSPs, KIs and Reps

According to Board Notice 197 of 2017 Authorised Financial Services Providers (FSPs), Key Individuals (KIs) and Representatives (Reps) must meet certain competence requirements which are set out in the Fit and Proper Requirements. The new Fit and Proper Requirements introduce a formal definition of “competence” which means “having the skills, knowledge and expertise needed for the proper discharge of a person’s responsibilities in the performance of his or her functions.”