Advisers must maintain records of their CPD activities and provide records of their CPD activities to their licensee.

“All licensees have until 31 March 2019 to publish their CPD training policy on their website and ensure CPD training plans for all relevant providers are in place,” Ms Pevely warned.

With the Financial Adviser Standards and Ethics Authority (FASEA) yet to approve any CPD activities or providers in their CPD policy at this stage, for now, it is up to licensees to make an assessment as to whether the CPD activity is appropriate, Ms Pevely.

“Licensees will need to consider the level of expertise of the provider and the facilitator, the level and type of learning undertaken, the learning outcomes and volume of time in undertaking the activity and the approach for verification of learning outcomes achieved,” she said.

FASEA has set minimum CPD hour requirements for specific categories including technical competence, client care and practice, regulatory compliance and consumer protection, and professionalism and ethics, Ms Pevely explained.

“Licensees and their [advisers] will need to look at a range of CPD activities, beyond industry conferences, to ensure the minimum hour requirements are met,” she said.