The Financial Adviser Standards and Ethics Authority (FASEA) has granted a once off three-month extension to meet the 40-hour continuing professional development (CPD) requirement.
Advisers would be required to complete 40 hours of CPD in 12 months in future CPD years and may not double count hours across years.
FASEA had received enquiries and requests for relief relating to compliance with CPD requirements due to COVID-19 business disruption.
FASEA said it would consult on a legislative instrument amendment to give effect to this extension.
“In recognition of the difficulty in attending face to face training due to COVID-19 restrictions, FASEA encourages advisers to utilise effective solutions being offered by Licensee CPD programs that contain online learning as part of a led or conducted CPD program,” FASEA said.
“Video conferencing and/or webinar technology options are equally considered appropriate alternatives to face to face offerings.”