Continuous Professional Development (CPD) Programmes

All investment advisors will be required to complete the annual continuing professional education (CPD) requirements in order to maintain their Registered Investment Advisor (RIA) status. The SEC will conduct CPD seminars, workshops and conferences periodically. Each seminar, workshop or conference will be worth a defined number of CPD seminar credits depending on the duration of the seminar where one hour equals one credit. Investment advisors must earn a minimum of four (4) CPD seminar credits every year and pass a CPD module every two years. The CPD test will cover updated knowledge and skills areas as well as market and regulatory developments pertaining to the financial sector and the securities industry. Each year, the SEC will develop the annual CPD module and update it continuously to reflect new knowledge and industry developments. Investment advisors will be required to read the module and pass an on-line test every two years.
Non-completion of CPD requirements for one (1) year may lead to expiry of the license to practice as an investment advisor. The SEC will issue a written notice to the investment advisor and to the employer indicating the non-completion of CPD requirements and giving the individual a maximum of three (3) months to complete the CPD requirement. The individual will be permitted to continue as an investment advisor under probation during this three-month period. If the CPD requirement is not fulfilled during this probation period, then the license to practice will expire and the individual will be disqualified from acting as an investment advisor and the SEC will issue a written notice to that effect to the individual advisor, the employer and the CSE. A notification to that effect will also be posted on the SEC website.
RE-INSTATEMENT OF INVESTMENT ADVISORS (IA)
Existing CPD requirement
As per SEC Circular no. 08/2009 dated 13 October 2009 and SEC Directive ref: no. SEC/CMET/2018/12/103 dated 18 December 2018, all IAs are required to earn four (4) CPD credits mandatorily during their licensing year.
Re-instatement requirement due to non-compliance
Investment advisors, whose license has expired due to non-compliance with CPD requirement for two (2) or more years at the time of request, are obligated to fulfill following extended requirements in order to renew their RIA status.

(a) IAs with continuous industry experience over 10 years with a proven track

record

The IAs will be re-instated when formally requested by the relevant stock brokingcompany subsequent to passing a RIA VIVE VOCE Examination subject to suchindividuals earning a minimum of four (4) CPD seminar credits within a period of oneyear.

(b) IAs with continuous industry experience between 5 to 10 years with a proven

track record

The IAs will be re-instated when formally requested by the relevant stock brokingcompany subsequent to passing a RIA VIVE VOCE Examination subject to suchindividuals earning a minimum of four (4) CPD seminar credits and pass a re-licensingexamination within a period of one year.

(c) IAs with continuous industry experience less than 5 years with a proven track

record

The IAs must first renew the RIA status through the process described below and maynot act as an IA in the securities industry that comes under the purview of the SEC priorto renewing their RIA.

Such IAs should pass a RIA VIVA VOCE Examination and a re-licensing examination. Therelevant stock broking company should then formally request the reinstatement.Within a period of one year IA should also earn a minimum of four (4) CPD seminar credits.

Programme Duration: Six Weeks. (Saturdays’ from 9.00 am – 1.00 pm)
Medium : English

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