Two advisers have been reprimanded for not meeting their continuing professional development (CPD) obligations.
The un-named advisers – identified only as Mr Q and Mr X by ASIC – were found by its sitting panel to have come up short in achieving the required CPD hours in the year ending 30 June 2024.
“There were no extenuating circumstances, and the relevant provider was tardy in rectifying their outstanding CPD hours,” it said of Mr Q.
With regard Mr X, the panel stated the adviser’s shortfall in CPD hours was rectified within a reasonable period of time.
“However, the sitting panel considered that a reprimand was needed to emphasise the importance of CPD to maintaining the standards of the profession, as well as the public’s trust and confidence in the profession.”
In both cases the matter was referred to the sitting panel due to concerns the advisers had failed to comply with their CPD requirements. Advisers are required to complete a total of 40 hours of CPD, including minimum hours across each of the mandatory categories, during the licensee’s CPD year.
