The Financial Adviser Standards and Ethics Authority (FASEA) has put it on licensees to help their advisers deal with continuing professional development (CPD) requirements impacted by COVID-19.
The authority has issued a statement acknowledging the difficulties advisers are facing in terms of face-to-face CPD offerings and has urged licensees to “take a supportive approach to compliance in these extraordinary circumstances”.
“FASEA understands that effective solutions are being offered by licensee CPD programs that contain online learning as part of a led or conducted CPD program. Video conferencing and/or webinar technology options are appropriate alternatives to face to face offerings,” the authority’s statement said.
“Licensee CPD policies are required to include potential relief provisions to assist the needs of advisers affected by extenuating circumstances (including medical). Advisers affected in this way should consider contacting their licensee to determine the most appropriate approach to their individual position.”
“In the current extraordinary circumstance licensees will no doubt be reviewing and, where appropriate, adjusting their CPD policy to include appropriate provisions.”