FASEA formalises three month CPD relief for advisers in recognition of COVID-19 business disruption

FASEA has registered the 2020 Legislative Instrument and Explanatory Statement for its Corporations (Relevant Providers Continuing Professional Development Standard) Determination (Amendment) 2020 on the Federal Register of Legislation.

This Instrument provides relief to advisers whose ability to complete CPD requirements has been impacted by COVID-19. Advisers have been granted an additional 3 months to meet the 40-hour CPD requirement as a one-off recognition of difficulties faced this year.  Advisers will be required to complete 40 hours of CPD in twelve months in future years and may not double count hours across the years. The Determination was informed through several formal submissions received during FASEA’s consultation process in June 2020.

The Legislative Instrument and Explanatory Statement can be viewed here.