On 26 March 2012, the Monetary Authority of Singapore (MAS) launched the Financial Advisory Industry Review (FAIR), aimed at raising the standards of practice in the Financial Advisory (FA) Industry. One of the recommendations is to raise the competence of the FA representatives, including implementing a requirement of minimum Continuing Professional Development (CPD) training hours (for each FA representative) as specified below.
- All FA representatives must undergo at least 30 hours of structured CPD training on an annual basis,
- Out of the total number of CPD training hours, all FA representatives are required to undergo at least:
- 4 hours of training in Ethics; and
- 8 hours of training in Rules & Regulations.
The courses in Ethics, and Rules & Regulations (Prescribed CPD Courses) are to be accredited by the Institute of Banking & Finance (IBF) before they can be counted towards the required training hours.
More information on CPD requirements
ERR Courses
