RegulatoryExams
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Continuous Professional Development (CPD)

Also known as: CPD, continuous professional development

Ongoing learning that representatives and key individuals must complete each year to stay competent and Fit and Proper.

Continuous Professional Development (CPD) is the requirement to maintain and update professional competence through ongoing, structured learning activities measured in hours over a CPD cycle (the year running 1 June to 31 May).

CPD forms part of the competence component of the Fit and Proper requirements. The number of hours required depends on the categories and subclasses of financial products a person advises on.

CPD activities must be relevant, verifiable and accredited where required. Failing to meet CPD obligations can affect a person’s Fit and Proper status.

Related terms

Fit and Proper RequirementsThe minimum standards of honesty, competence and financial soundness that FSPs, key individuals and representatives must meet.RepresentativeA person who renders a financial service to clients on behalf of an FSP — the role the RE5 exam qualifies you for.Key IndividualA person responsible for managing or overseeing the financial services activities of an FSP.

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