CPD EXEMPTION FOR CERTAIN KEY INDIVIDUALS AND REPRESENTATIVES
The FSCA granted an exemption to FSPs, key individuals and representatives who are members of foreign professional bodies with respect to CPD requirements from 17 May 2019.
The exemption allows CPD activities offered by foreign professional bodies who are not recognised by the South African Qualification Authority (“extended CPD activities”) to be included in the definition of “CPD activities”.
Notwithstanding the inclusion of “extended CPD activities”, FSPs, key individuals and representatives who are members of foreign professional bodies are still required to comply with the CPD requirements.
*The annual CPD cycle will end on 31 May 2019. If a representative does not achieve the required CPD hours, the FSP has no option but to follow the debarment process.
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