CLARIFICATION ON 2020 AND 2021 CPD CYCLE

We have received written clarification from the Financial Sector Conduct Authority (FSCA) regarding the commencement date of the 2021 CPD cycle. Despite contradicting dates in various FSCA notices (read here and here), the FSCA has confirmed that: 

  • The 2020 CPD cycle came to an end on 31 May 2020 and the 2021 CPD cycle started on 1 June 2020.  
  • Persons who were unable to meet the 31 May 2020 CPD deadline were given an additional 3 months up to 31 August 2020 to meet the CPD requirements for the 2020 CPD cycle. 
  • Regardless of whether CPD for the 2020 CPD cycle was completed by 31 May 2020 or 31 August 2020, all key individuals and representatives may complete pro-rata CPD hours for the 2021 CPD cycle, as follows:
    • a single subclass of business within a single class of business must complete a minimum of 4 and a half hours of CPD activities in respect of the 2021 CPD cycle; 
    • more than one subclass of business within a single class of business must complete a minimum of 9 hours of CPD activities in respect of the 2021 CPD cycle;
    • more than one class of business must complete a minimum of 13 and a half hours of CPD in respect of the 2021 CPD cycle. 

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