Continuing Professional Development (CPD)

It is a requirement under ASIC’s Regulatory Guide 146, that an Authorised Representative (AR) maintain a sufficient level of CPD each year. The purpose of this is to:

•         Maintain knowledge and skills;

•         Update knowledge and skills; and

•         Develop new knowledge and skills.

As an AR of SAN, you are required to undertake a minimum of 20 CPD hours per annum.  Training requirements will be pro-rated for ARs joining SAN after the start of a training period.  The SAN training period runs from 1 January to 31 December each year.

Your CPD hours are also broken down into knowledge areas with specific point allocations.  These are:

Knowledge Areas Target hours
Generic knowledge 2
Financial planning 1
Personal taxation issues (personal financial planning stream) 2
Superannuation (including pensions, LRBAs and SMSFs) 13
Skills 1
Ethics 1
Total 20

Please note all knowledge areas as well as training hours must be satisfied when completing your CPD training. For example, if you complete 20 hours for superannuation only, you will still need to complete the required CPD for the other knowledge areas.

CPD requirements must be completed on an annual basis. Completing additional training in one CPD year doesn’t enable you to ‘bank’ these for future training periods. The full quota (including the mandatory knowledge points) must be completed each year.

Representatives who become accredited after the start of the CPD year, will still need to meet the CPD requirements but these will be pro-rated dependant on their authorisation date.

As an AR of SAN, we will provide you with recommended material and/or courses to assist you to satisfy your CPD requirements.  Please be aware that should you choose not to complete the CPD recommended by SAN, you will need to ensure that you satisfy your full CPD requirements with other courses, attendance at seminars or conferences, online training etc.  A training schedule will be provided annually to inform you of your CPD requirements.

SAN also recognises both structured and unstructured sessions for CPD. For example, attending both days of the NTAA’s Super School Seminars will provide 13 hours of structured training. 

You are able to claim up to 5 unstructured CPD hours per annum for professional reading.  Should you choose this option, you will need to complete a reading register listing the following:

  • Name of the item;
  • Name of the author; 
  • Date of publication (if it is in a magazine, you will also need to confirm the name of the magazine and the page of the article);
  • Date that you read the item;
  • Knowledge areas that you believe were covered e.g. superannuation, generic knowledge etc.; and  
  • The amount of time it took you to read the item. 

Alternatively, SAN has provided some reading material on our website that you can record on your reading register once you have read the document.

Should you attend any CPD events that you would like to record on your CPD register, you can lodge these through the SAN CPD register on the SAN website.  You will be asked to enter the details of the session including: 

  • The CPD title/event;
  • Association i.e. who the training was provided by;
  • CPD event date; and
  • CPD hours for each Knowledge Area covered in the CPD event.

All CPD registered must be accompanied by a certificate or other documentation as proof. CPD Records must include the following information: 

  • The AR’s name;
  • Proof of successful completion of the CPD session or training. This may be a certificate of completion or attendance record. If a certificate of completion or attendance is not provided by the training facilitator, a copy of the session’s agenda and a confirmation of your registration at the event may be sufficient. 

Once you have lodged your CPD training as above, the status will show as Submitted.  This will then be reviewed by the SAN Compliance team and once approved will show as Complete.

You are required to complete your CPD training requirements by 31 December each year and you will receive reminders about your CPD in the lead up to this deadline. 

Should you fail to complete your CPD requirements, you will be contacted by the Compliance team with a remediation plan. Note that failure to complete CPD adequately may result in suspension or other disciplinary action.

Each year, SAN will determine the CPD requirements for the next CPD training period. This will be determined by taking into consideration ASIC requirements, Corporations Act requirements and any Best Practice bench marks as well as SAN’s internal requirements.  This will then be communicated to all SAN AR’s. 

Should you have any questions about your CPD training, please contact the SAN Compliance team on 1800 906 456.