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CPD Hours / CPD Points for Finance — All You Need To Know

What is CPD — Continuing Professional Development ?

CPD — Continuing Professional Development, is a nation-wide scheme that was introduced to ensure that industry representatives and practitioners maintain knowledge and skill currency with regulatory and industry changes. Essentially, it allows industry professionals to evolve in tandem with the industry. In this article, we will examine and summarize the various CPD requirements of the Financial Industry.

How is CPD qualified and tracked?

CPD Qualification

Every financial industry practitioner has a quota of CPD Hours (a.k.a. CPD Points) that they need to acquire on an annual basis. In some instances, these hours are differentiated into Core Hours and Supplementary Hours. These hours/points can be obtained by doing a few types of activities, such as:

  • Training & Education
  • Instruction
  • Leadership
  • Research & Publication.

In this article, we will elaborate on the CPD Hours that can be clocked from Training & Education courses. For training courses, core hours and supplementary hours are differentiated in that:

  • Core hours have a higher quota than Supplementary hours
  • Core hours are accumulated by participating in programmes that are related to the practitioner’s field of financial work; Supplementary hours do not require the programmes to be related to the practioner’s field of work

CPD Tracking and Enforcement

Fulfilments are tracked annually. Depending on whether you are from the private or public sector, the principal entity which oversees the tracking of your hours will be your employer/a dedicated entity in your organisation, or a dedicated entity in IBF, respectively.

Do note that simply completing the course will not complete the fulfilment process — you will need to submit the relevant course documents to your organisation’s principal entity that is overseeing everyone’s hours.

What are the Different MAS Financial CPD Schemes?

IBF Standards CPD

Who It Applies To

The IBF Standards Scheme applies to all IBF Certified Individuals. You will need to meet your annual quota in order to retain your IBF Certification.

CPD Hours Required

All IBF STS (Standards Training Scheme) and FTS (Financial Training Scheme) funded courses will contribute to this scheme’s requirement.

  • 15 hrs annually — Commences from the calendar year after the year in which the individual was certified

Other Requirements/ Information

Annual CPD Activities must be directly relevant to the financial industry. The relevant activity categories are:

  • Ethics / Market Conduct Requirements
  • Product Knowledge
  • Skills / Competencies
  • Rules and Regulations / Compliance-related matters

Monitoring Process

The IBF Certified Individual is required to maintain and submit supporting documents (e.g. certificate of attendance/ completion, appointment letter or copy of published article etc.) for all CPD activities undertaken and records on how the required hours are met. These documents are required for IBF audits on the individual to ensure all IBF CPD requirements are met.

In addition to acquiring the respective programme certificates, the individual has to submit the documents to IBF as well. Where submission is not complete, certification status will not be awarded.

For more information on the requirements for this scheme, click here.

Financial Advisory Representatives CPD

Who It Applies To

The Financial Advisory Representatives Scheme applies to all appointed representatives of Financial Advisers, except first-time appointed representatives who are still within the same calendar year of their appointment.

CPD Hours Required

For representatives who provide advice or arrange contract of insurance in respect of mortgage reducing term assurance policies and/or group term life insurance policies:

  • Core hours (IBF/SCI-accredited programmes in respect of Ethics, or Rules & Regulation, or both): 6
  • Supplementary hours: 10

For representatives who provide advice concerning any investment product, marketing of any collective investment scheme and arranging contract in respect of life policies:

  • Core hours (same as above): 6
  • Supplementary hours: 24

Monitoring Process

Financial Adviser company must appoint a principal entity to monitor representative CPD quotas. These principal entities will:

  • Calculate the total number of completed structured CPD training hours of each of its appointed representatives as at the end of each calendar year, and
  • Maintain a register containing records of each of its appointed representatives’ total number of completed structured CPD training hours for each calendar year, and the principal entity must retain the register for a period of not less than 5 years from the end of the calendar year in which the appointed representative is appointed

For more information on the requirements for this scheme, click here.

Client Advisor Competency Standards CPD

Who It Applies To

The Client Advisor Competency Standards Scheme applies to all Covered Persons. It is not applicable to Covered Persons who have attained IBF Certification less than 2 years ago.

What is “Covered Person”, “Covered Entity” and “AIs”?

  • Covered Person — an individual who is in a client-facing role and provides financial/wealth advisory service(s) to AIs (accredited investors) on behalf of a Covered Entity.
  • Covered Entity — a financial institution or a division thereof which is regulated by the MAS, where the financial institution or division provides services to AIs.
  • Accredited Investors — accredited investors are investors who have access to a wider range of investment products than non-accredited investors, and at the same time require less regulatory protection. To qualify, certain requirements must be met.

CPD Hours Required

There is a minimum requirement of 15 hours annually:

  • 8 hours minimum in training that is accredited under IBF-STS in Private Banking and Wealth Management or Generic Skills and Competencies
  • 4 hours minimum in training related to Rules & Regulations, Compliance or Ethics
  • Special Case:
    • Covered Persons with less than 3 years of experience as Relationship Managers (as of 31 December 2018) must complete minimum of 15 hours in training that is accredited under the IBF-STS and attain IBF Certification in Private Banking within 3 years from the date of implementation.

Do note that New Covered Persons or individuals who have worked for 6 or less working months in any calendar year may qualify for a prorated CACS CPD obligation for that year, as shown below. Any unfulfilled CPD hours for that year may be carried forward and completed in the next calendar year.

Monitoring Process

Covered Entities are expected to submit CPD fulfillment reports for their Covered Persons annually, by 31st Jan of the following year. Go to the IBF Portal Login, where you can submit annual CACS CPD reports for your entity.

For more information on the requirements for this scheme, click here.

Capital Markets Services Representatives CPD

Who It Applies To

The Capital Markets Services Representatives Scheme applies to representatives of Capital Market Services (CMS) License holders and Exempt Financial Institutions.

CPD Hours Required

The number of core and supplementary hours required are as such:

  • Core hours (IBF-accredited programmes in ethics or rules and regulations or both, as the case may be, which is relevant to the type or types of regulated activity he carries out): 6
  • Supplementary hours (in relevant training courses): 3

The following representatives have CPD quotas that differ from above:

  • Individuals who are appointed as representatives for the first time, for their first calendar year, do not need to clock any CPD hours.
  • Individuals who are appointed representatives for an aggregate period of less than a year in a calendar year, will complete a pro-rated number of core and supplementary CPD hours (direct percentage)
    • If unable to reach their pro-rated quota, they can carry over the remainder to the following year at maximum
    • If they change their principal in the new calendar year, they will not need to complete the previous year’s unfulfilled CPD hours that were accumulated under the previous principal
    • If they cease being an appointed representative, they will not need to complete their total pro-rated core and supplementary CPD hours

Monitoring Process

Principal entity must monitor representatives’ CPD quotas. They will:

  • calculate the total number of completed structured CPD training hours of each of its appointed representatives as at the end of each calendar year, and
  • maintain a register containing records of each of its appointed representatives’ total number of completed structured CPD training hours for each calendar year, and the principal entity must retain the register for a period of not less than 5 years from the end of the calendar year in which the appointed representative is appointed.

For more information on the requirements for this scheme, click here.

If you are interested in clocking some CPD Hours, you can check out our range of Investment Courses.

Coursemology
4.8
Based on 182 reviews
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Keline jacq14Keline jacq14
09:37 01 Feb 24
Very good course👍👍
Resti YResti Y
09:36 01 Feb 24
Thank you Cikgu Juriah for teaching me patiently and well, it's easy to understand everything you say.
Shafiq ShafiqShafiq Shafiq
09:33 01 Feb 24
Great place to do my food safety course.Kudos to my teacher Ms Juriah for the fun and engaging class👍
Rista RahmanRista Rahman
09:27 01 Feb 24
Our facilitator Mr Anandan is very knowledgeable and got sense of humour. You won’t fall asleep totally. Staff are very helpful especially Wendy and the rest at the reception counter. Recommended ❤️
Ernie RahmanErnie Rahman
07:39 26 Jan 24
Trainer Anandan is friendly and knowledgeable in his teaching in the food safety course. He is approachable and easy going and therefore we don't feel tense at all. Thank you sir! Strongly recommned to attend his classes. He should continue teaching this course at a higher level. He is also a trainer in aircon servicing and car maintenance.
Claudine YeongClaudine Yeong
09:51 24 Jan 24
Ashley is very friendly and clear in her teachings. She gives a lot of real life situations to emphasize the importance of food hygiene and safety.However, Peter who tested the practical part was unreasonable and scolded me when I tried to explain myself for not taking back the plate of cucumbers that I sold to the customer.
Lis ChoeLis Choe
10:37 22 Jan 24
Attended the Food Safety & Hygiene Level 1 course at Toa Payoh on 19 Jan 2024. The class was handled by SHIRLEY WONG (ASHLEY). Thoroughly enjoyed the class. Shirley was not only very clear in her delivery of the course material, but she was a very engaging instructor. Whilst communicating the seriousness of food safety and hygiene, she managed to bring humour and lightness to the class which could otherwise have been boring.Thank you Shirley !!
rachael francisrachael francis
05:31 17 Jan 24
Attended Food and Safety Level 3 and trainer Audrey was very good and clear with her explanation. Very friendly. She's very patient when explaining. Highly recommended. Course centre is also clean and easy to find your way. Convenient as there are many shops located around.
Chicken BruhChicken Bruh
08:03 14 Jan 24
veri gud the cher is very nice explain in all languages
Katherine ChiaKatherine Chia
07:01 14 Jan 24
Swiss LamSwiss Lam
07:00 14 Jan 24
Our instructor, William makes the lesson lively and very informative! I enjoyed it.
azlan Shamanazlan Shaman
05:59 14 Jan 24
This course very useful for me, customer managementEffective WSH LEVEL3Instructor,Jonathan loh is very Good.
Raaj's fun checkRaaj's fun check
05:59 14 Jan 24
This course very useful for me,Customer managementEffectiveness managementWSH level 3Instructor ,Jonathan Lohan is very good
IRENE YUENIRENE YUEN
11:08 09 Jan 24
Attended the Food hygiene level 1 at Toa Payoh outlet. Convenient location & clean environment.Mr Loo Hee Jin is our trainer for the day. Very glad to attend his lesson. He is very professional, knowledgeable & also a very patience trainer. His explanation is clear and direct to the point. Easily understand with his extra example.Attended the class in a relax & comfortable environment.Strongly recommend.
Jessie KhooGanJessie KhooGan
11:54 04 Jan 24
Attended Food Safety Course Level 1 on 4 Jan 2024 and I enjoyed the class throughly. Our trainer - Anandan S/O Ganesan was very knowledgeable and he delivered the training in a very fun and interactive manner. He made the class very interesting and shared real examples which made it easier for individuals to understand with zero knowledge base.The customer service - Ms Alene was very helpful and responsive to my queries. Enrolling for this course was fuss free and she even provided the step by step in submit course claims using skills future credits. I will definitely recommend Coursemology to my circle of friends.Thank you once again for making my learning journey today a fruitful one.
Raine FooRaine Foo
16:21 03 Jan 24
Attended the Food Safety Course Level 1 on 18 Dec 2023. The trainer Mr Loo Hee Jin is very professional and helpful. At times he explained in Mandarin to enable some non-english speaking learners to understand better. Staff at the Reception Desk are very helpful too. Environment is cosy and hot home-made barley drinks are provided during tea-breaks. Recommend this training school at Toa Payoh Central. Thank you.
Loh seng chouLoh seng chou
05:11 07 Nov 23
Staff were friendly and helpful.They took pains in explaining the contents of the coursrA good place to improve myself.
Irene TanIrene Tan
06:21 02 Oct 23
Ms Ashley Shirley wong is a nice and cheerful teacher thanks for class on 01 Oct 23 from 9am to 6pm thank you.I am Irene Tan Lee Peng and I understand everything and really enjoying your lesson so much 🥰 really appreciate 😃.
Ying LimYing Lim
09:41 28 Sep 23
Great place to utilise your Skillsfuture Credit to upskill yourself. Convenient location at Toa Payoh Central, Jurong East Central and Tampines Central!
Ivy TiongIvy Tiong
03:07 15 Jul 23
I wanted to attend Basis Food Hygiene course n has found Coursemology online that allows me to use my Skillfuture Credit to pay for the course fees. $0 from my own pocket. The staff, Wendy is very helpful. With her assistance, I hv no problem with my registration. 👍
SasaSasa
17:30 28 Jun 23
I Attended the Food Hygiene course on 26/06/2023 @ Toa Payoh , course sign up & payment was easy. Trainer Mr Eddy is very friendly , knowledgeable and helpful to ensure everyone of us understand the importance of Cleanliness, Safety in the work. I benefited from this course, highly recommend Coursemology with thumb up 👍
Tee AhwenwenTee Ahwenwen
08:50 26 Feb 23
Ms Ashley Shirley wong is a nice and cheerful teacher thanks for today 26feb23 thank you I am wenyi is teachable teacher and i understand everything and enjoying your lesson so much 😊 really appreciate that.
Ben HanBen Han
18:30 03 Jan 23
Coursemology provides a wide range of massage courses with flexible training schedules..Sales manager , Rachel Lip, assisted me quickly and positively with both my course enquiries as well as the registration of my chosen massage course in a fuss free manner..So for my friends out there...If you are looking to enrol for serious massage courses..Coursemology is your recommended choice...RegardsBen Han
Devaghi ATDevaghi AT
00:35 15 Aug 22
The trainers were very Knowledgeable n conducted the session to participants understanding. Friendly n approachable. Motivational approach during practicals. I benefited from Course. Tq, trainers.
Mohd IqbalMohd Iqbal
09:58 24 May 22
My Food and Hygiene course here was superb! Instructor is very helpful to ensure you understand the importance of Cleanliness and Safety in the kitchen. I highly recommend Coursemology.
MattMatt
02:58 12 May 22
Attended the Food Hygiene course at vision exchange. The course sign up and payment process was fast and simple. The instructor was fun and engaging and helpful. Highly recommend this place if you want to get your food hygiene cert.
Joey GanJoey Gan
09:29 24 Apr 22
My sister and I had many questions about the different courses. The staff present including the boss Mr Wee were very patient and friendly to help us. The centre at Toa Payoh was also easy to get to and centre facilities were kept clean and tidy. We have a very good experience.
ting siongting siong
06:05 19 Apr 22
The trainer is patient and able to explain food hygiene and safety concept clearly. She demonstrated the hand cleaning techniques, share industry practices and safety standards with participants.A good training indeed.
Keline jacq14Keline jacq14
09:37 01 Feb 24
Very good course👍👍
Resti YResti Y
09:36 01 Feb 24
Thank you Cikgu Juriah for teaching me patiently and well, it's easy to understand everything you say.
Shafiq ShafiqShafiq Shafiq
09:33 01 Feb 24
Great place to do my food safety course.Kudos to my teacher Ms Juriah for the fun and engaging class👍
Rista RahmanRista Rahman
09:27 01 Feb 24
Our facilitator Mr Anandan is very knowledgeable and got sense of humour. You won’t fall asleep totally. Staff are very helpful especially Wendy and the rest at the reception counter. Recommended ❤️
Ernie RahmanErnie Rahman
07:39 26 Jan 24
Trainer Anandan is friendly and knowledgeable in his teaching in the food safety course. He is approachable and easy going and therefore we don't feel tense at all. Thank you sir! Strongly recommned to attend his classes. He should continue teaching this course at a higher level. He is also a trainer in aircon servicing and car maintenance.
Claudine YeongClaudine Yeong
09:51 24 Jan 24
Ashley is very friendly and clear in her teachings. She gives a lot of real life situations to emphasize the importance of food hygiene and safety.However, Peter who tested the practical part was unreasonable and scolded me when I tried to explain myself for not taking back the plate of cucumbers that I sold to the customer.
Lis ChoeLis Choe
10:37 22 Jan 24
Attended the Food Safety & Hygiene Level 1 course at Toa Payoh on 19 Jan 2024. The class was handled by SHIRLEY WONG (ASHLEY). Thoroughly enjoyed the class. Shirley was not only very clear in her delivery of the course material, but she was a very engaging instructor. Whilst communicating the seriousness of food safety and hygiene, she managed to bring humour and lightness to the class which could otherwise have been boring.Thank you Shirley !!
rachael francisrachael francis
05:31 17 Jan 24
Attended Food and Safety Level 3 and trainer Audrey was very good and clear with her explanation. Very friendly. She's very patient when explaining. Highly recommended. Course centre is also clean and easy to find your way. Convenient as there are many shops located around.
Chicken BruhChicken Bruh
08:03 14 Jan 24
veri gud the cher is very nice explain in all languages
Katherine ChiaKatherine Chia
07:01 14 Jan 24
Swiss LamSwiss Lam
07:00 14 Jan 24
Our instructor, William makes the lesson lively and very informative! I enjoyed it.
azlan Shamanazlan Shaman
05:59 14 Jan 24
This course very useful for me, customer managementEffective WSH LEVEL3Instructor,Jonathan loh is very Good.
Raaj's fun checkRaaj's fun check
05:59 14 Jan 24
This course very useful for me,Customer managementEffectiveness managementWSH level 3Instructor ,Jonathan Lohan is very good
IRENE YUENIRENE YUEN
11:08 09 Jan 24
Attended the Food hygiene level 1 at Toa Payoh outlet. Convenient location & clean environment.Mr Loo Hee Jin is our trainer for the day. Very glad to attend his lesson. He is very professional, knowledgeable & also a very patience trainer. His explanation is clear and direct to the point. Easily understand with his extra example.Attended the class in a relax & comfortable environment.Strongly recommend.
Jessie KhooGanJessie KhooGan
11:54 04 Jan 24
Attended Food Safety Course Level 1 on 4 Jan 2024 and I enjoyed the class throughly. Our trainer - Anandan S/O Ganesan was very knowledgeable and he delivered the training in a very fun and interactive manner. He made the class very interesting and shared real examples which made it easier for individuals to understand with zero knowledge base.The customer service - Ms Alene was very helpful and responsive to my queries. Enrolling for this course was fuss free and she even provided the step by step in submit course claims using skills future credits. I will definitely recommend Coursemology to my circle of friends.Thank you once again for making my learning journey today a fruitful one.
Raine FooRaine Foo
16:21 03 Jan 24
Attended the Food Safety Course Level 1 on 18 Dec 2023. The trainer Mr Loo Hee Jin is very professional and helpful. At times he explained in Mandarin to enable some non-english speaking learners to understand better. Staff at the Reception Desk are very helpful too. Environment is cosy and hot home-made barley drinks are provided during tea-breaks. Recommend this training school at Toa Payoh Central. Thank you.
Loh seng chouLoh seng chou
05:11 07 Nov 23
Staff were friendly and helpful.They took pains in explaining the contents of the coursrA good place to improve myself.
Irene TanIrene Tan
06:21 02 Oct 23
Ms Ashley Shirley wong is a nice and cheerful teacher thanks for class on 01 Oct 23 from 9am to 6pm thank you.I am Irene Tan Lee Peng and I understand everything and really enjoying your lesson so much 🥰 really appreciate 😃.
Ying LimYing Lim
09:41 28 Sep 23
Great place to utilise your Skillsfuture Credit to upskill yourself. Convenient location at Toa Payoh Central, Jurong East Central and Tampines Central!
Ivy TiongIvy Tiong
03:07 15 Jul 23
I wanted to attend Basis Food Hygiene course n has found Coursemology online that allows me to use my Skillfuture Credit to pay for the course fees. $0 from my own pocket. The staff, Wendy is very helpful. With her assistance, I hv no problem with my registration. 👍
SasaSasa
17:30 28 Jun 23
I Attended the Food Hygiene course on 26/06/2023 @ Toa Payoh , course sign up & payment was easy. Trainer Mr Eddy is very friendly , knowledgeable and helpful to ensure everyone of us understand the importance of Cleanliness, Safety in the work. I benefited from this course, highly recommend Coursemology with thumb up 👍
Tee AhwenwenTee Ahwenwen
08:50 26 Feb 23
Ms Ashley Shirley wong is a nice and cheerful teacher thanks for today 26feb23 thank you I am wenyi is teachable teacher and i understand everything and enjoying your lesson so much 😊 really appreciate that.
Ben HanBen Han
18:30 03 Jan 23
Coursemology provides a wide range of massage courses with flexible training schedules..Sales manager , Rachel Lip, assisted me quickly and positively with both my course enquiries as well as the registration of my chosen massage course in a fuss free manner..So for my friends out there...If you are looking to enrol for serious massage courses..Coursemology is your recommended choice...RegardsBen Han
Devaghi ATDevaghi AT
00:35 15 Aug 22
The trainers were very Knowledgeable n conducted the session to participants understanding. Friendly n approachable. Motivational approach during practicals. I benefited from Course. Tq, trainers.
Mohd IqbalMohd Iqbal
09:58 24 May 22
My Food and Hygiene course here was superb! Instructor is very helpful to ensure you understand the importance of Cleanliness and Safety in the kitchen. I highly recommend Coursemology.
MattMatt
02:58 12 May 22
Attended the Food Hygiene course at vision exchange. The course sign up and payment process was fast and simple. The instructor was fun and engaging and helpful. Highly recommend this place if you want to get your food hygiene cert.
Joey GanJoey Gan
09:29 24 Apr 22
My sister and I had many questions about the different courses. The staff present including the boss Mr Wee were very patient and friendly to help us. The centre at Toa Payoh was also easy to get to and centre facilities were kept clean and tidy. We have a very good experience.
ting siongting siong
06:05 19 Apr 22
The trainer is patient and able to explain food hygiene and safety concept clearly. She demonstrated the hand cleaning techniques, share industry practices and safety standards with participants.A good training indeed.
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