17 October 2019 - 10:42In June 2018, under the Financial Advisory and Intermediary Services Act, the Financial Sector Conduct Authority of SA implemented compulsory requirements for continuous professional development credits.
Though many organisations had their own requirements such as the continuing education credits required by the CFA Institute, and offered various training courses, workshops, seminars and conferences at the time, there was no framework to consistently measure and record each organisation’s credits, and no standardised way of assigning credits or measuring learning and improvement in understanding.
Unfortunately, many of the credits on offer fell under the banner of product training, which is often just a poorly disguised marketing strategy for product houses. There is little independent thought-leadership content on offer, something at which CFA Society South Africa excels. Unfortunately, CPD credits had to be verified by an approved local provider, so at the outset, the comprehensive body of knowledge offered by the CFA Institute was not considered approved content.
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