BREAKING NEWS: The FSCA announced yesterday, 30/05/2019 in FAIS Notice 40 of 2019 that they have extended the 2018-2019 CPD Cycle until 31 July 2019. It, in effect, grants everyone who still needs to complete their 6, 12, 18 CPD hours with an additional grace period of 2 months. However, please take note that the 2019-2020 CPD cycle still starts from 01/06/2019 until 31/05/2020. Let us ensure that we start early with the new cycle, to ensure that we comply with the concept of CONTINUOUS development and not put pressure on yourself to try and do it in one week.
It will be quite an administrative nightmare to ensure who still need to finish and who already comply by the 31/05/2019.
What INTEGRITY ACADEMY will do:
- Split our system into the 2018/2019 CPD Cycle (old material) and 2019/2020 CPD Cycle (new material).
- Change the end date of 31/05/2019 to read 2018/2019 CPD Cycle and on the new certificates to read 2019/2020 CPD Cycle.
- We have already applied for accreditation for the 2019/2020 cycle and received a confirmation of accreditation on 30/05/2019 for the 2019-2020 Cycle.
- We will extend your access to the current cycles material and CPD Subscription until the end of July 2019
Take note: If you do comply by 31/05/2019, you will need to renew your CPD Subscription for the 2019/2020 cycle, however, we will still provide access to your subscription for the current cycle until 31/07/2019.
IMPORTANT: The certificates for the 2018/2019 subscription will only be valid for the 2018/2019 cycle.
NOTICE FROM THE FSCA
Kindly take note that the Financial Sector Conduct Authority ("FSCA") has published the following exemption on its website:
The Exemption from Continuous Professional Development Requirements, 2019 - No 2 of 2019 ("the Exemption").
The purpose of the Exemption is to allow financial services providers, key individuals and representatives until 31 July 2019 to comply with the Continuous Professional Development ("CPD") requirements set out in the Determination of Fit and Proper Requirements for Financial Services Providers, 2017, in respect of the current CPD cycle ("2018 CPD cycle"). The effective date of the Exemption is 1 June 2019.
It should be noted that -
a. the Exemption does not detract from the CPD hours required for the next CPD cycle, i.e. 1 June 2019 until 31 May 2020 ("2019 CPD cycle");
b. the Exemption does not effect the period of the 2019 CPD cycle. In other words, the 2019 CPD cycle will still commence on 1 June 2019 and end on 31 May 2020;
c. the CPD hours completed for the 2018 CPD cycle in the exemption period (1 June 2019 until 31 July 2019), cannot be calculated towards the 2019 CPD cycle; and
d. CPD hours completed in the exemption period (1 June 2019 until 31 July 2019) by those who already complies with the CPD requirements for the 2018 CPD cycle, will be awarded towards the 2019 CPD cycle.
A CPD communication will be published on the FSCA's website in due course. This communication will provide general guidance on the applicability of the CPD requirements.
The publication can directly be accessed through the following link:
Financial Sector Conduct Authority