The link between FSCA or Regulatory CPD as required in Board Notice 194 of 2017 and Professional Bodies still requires clarity for many Financial Services Providers and their Representatives.
The definition of CPD activities in the Board Notice specifically states that CPD activities need to be approved and rated by a Professional Body which is recognised by SAQA.
The definition further requires that CPD activities are verifiable, which means that there needs to be a process by which one can confirm that the person completed the activity, either by means of signing in and out on an attendance register or completing an online Q&A via a secured profile.
Section 32 (2) of the Board Notice requires that FSPs produce and implement policies and procedures for CPD activities as well as a training plan that identifies training needs and skills gaps of representatives and the FSP for which CPD activities can be sourced and completed for the growth in knowledge and professionalism of the FSP and its Representatives.
For all the facts on questions of membership and the link between membership and CPD activities, download the February issue of RISKAFRICA magazine now!
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