TPB lighten CPE load in face of COVID-19

The Tax Practitioners Board (TPB) has moved to lighten the load for tax (financial) advisers with changes to its continuing professional education (CPE) arrangement, particularly the temporary lifting of the professional reading cap. 

The TPB has announced it has temporarily revised its CPE requirements as a result of COVID-19 with a six-month adjustment. 

“Currently, our policy sets a 25% cap for relevant technical or professional reading,” it said. “We’re removing this cap for the next six months.” 

“It’s important to note that while the 25% professional reading cap has been temporarily lifted, we expect you to first and foremost explore online CPE offerings. All other elements of our CPE requirements remain unchanged,” it said. 

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Honestly? Last thing on my mind at the moment is CPD. Get real guys.

The best way TPB could lighten the load for financial advisers would be to get out of financial adviser regulation altogether. Financial advisers are already chronically over regulated by a swathe of other bureaucratic agencies. There is nothing useful the TPB adds that isn't already covered elsewhere. The TPB just adds cost and complexity and makes it harder for consumers to access affordable advice.

There was supposed to be a review late last year into the TPB's ongoing involvement in financial advice. Does anyone know if that has been completed? Money Management reporters, do you know what happened to that?

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