Continuous Professional Development Program (CPD)
Program Objective
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. Â
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
- 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 broking company subsequent to passing a RIA VIVE VOCE Examination subject to such individuals earning a minimum of four (4) CPD seminar credits within a period of one year.
- 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 broking company subsequent to passing a RIA VIVE VOCE Examination subject to such individuals earning a minimum of four (4) CPD seminar credits and pass a re-licensing examination within a period of one year.
- 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 may not act as an IA in the securities industry that comes under the purview of the SEC prior to renewing their RIA.
Such IAs should pass a RIA VIVA VOCE Examination and a re-licensing examination. The relevant stock broking company should then formally request the reinstatement.Â
Within a period of one year IA should also earn a minimum of four (4) CPD seminar credits.