CPD Training requirements for AFSLs not providing personal advice

For AFSLs whose training year is set to align with the financial year, it is time to ensure the annual continuing professional development (CPD) training requirements are put in place through a new training plan for relevant staff. Even if your CPD training aligns with the calendar year or some other timetable, it's important to make sure you keep up training consistently throughout the year to avoid a last-minute rush.

How many CPD hours are required?

Although ASIC does not specify a minimum requirement of CPD hours for Responsible Managers and representatives under an AFSL which doesn't provide personal advice, twenty (20) hours is generally accepted as the industry standard. Responsible Managers, directors, advisers and other employees should consult their training plans (or Compliance Officer) and also ensure they are recording details of all CPD hours completed including the following as a minimum: