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Do I have to take CPD in banking?

As intermediary/natural person & effective leader de facto charged with responsibility

To maintain your registration as an intermediary & effective leader in banking and investment services, you must provide proof of a total of 15 CPD hours per one-year period with a licensed training organiser.

The CPD obligation, and consequently the first one-year period, commences on 1 January of the calendar year following the first registration, appointment or designation as an intermediary in banking and investment services.

From 1 January 2024, at least 1/3 of this total of 15 CPD hours must consist of sector-specific CPD hours if you are required to undertake CPD in 2 or more regulated activities. So in that case, you need to achieve at least 5 sector-specific CPD hours per year. The remaining 10 CPD hours can be filled in at your own convenience, either general or sector-specific.

If you are only registered in 1 regulated activity, you are allowed to submit unrestricted general and/or sector-specific CPD hours.

In addition, during the first 3 years following your registration, appointment or designation, at least 12 hours of CPD training per year out of the total of 15 must be aimed at acquiring professional knowledge and skills regarding the products or services that are de facto distributed, regardless of your registration in 1 or more regulated activities.

As a PCP - person in contact with the public

PCPs in banking and investment services should also keep their professional knowledge current and up to date by attending CPD training. A total of 15 CPD hours per one-year period is required.  There is no individual follow-up on the number of CPD hours, the employer is responsible for collectively developing and implementing an annual and updated global training plan.

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