As set out in the Guidelines on Fit and Proper Criteria (Guideline No.FSG-G01), competence and capability are criteria which are taken into account in considering whether a person is fit and proper.
Appointed representatives of financial advisers are therefore expected to undergo continuing education so as to keep abreast of developments in the financial advisory industry and update their skills and knowledge in relation to the type of financial advisory services which they provide.
In this regard, every appointed representative of a financial adviser must:
a) undergo structured CPD training which is relevant to the type of financial advisory services that he provides; and
b) obtain and retain relevant supporting evidence that he has completed the minimum hours of structured CPD training within the stipulated period.
The minimum hours of structured CPD training requirement for appointed representatives is effective from 1 January 2016.
An individual who acts or hold himself out to be an appointed representative of a financial adviser (i) from 1 January 2016 or (ii) immediately before 1 January 2016 and continues to be so from that date.
An individual who has been appointed as an appointed representative of any financial adviser for the first time, for the period starting on the date of his first appointment as an appointed representative and ending on the last day of the same calendar year.
For other circumstances under which the CPD requirements do not apply, please refer to
MAS Notice FAA-N13 Para 33.
The following is a summary of core and supplementary CPD hours required for the different types of financial advisory service. For details, please refer to
MAS Notice FAA-N13 Para 31.
* Only training hours of courses in Ethics or Rules and Regulations or both, as the case may be, which are accredited by IBF or SCI will be counted towards the Core CPD hours.
¹Training under MediShield Life Scheme content, shield plan content or a combination of both, as required under
MAS Notice 117 (Training and Competency Requirement: Health Insurance) should be counted towards Supplementary CPD Hours.
Only training hours of courses in Ethics or Rules and Regulations or both, as the case may be, which are accredited by IBF or SCI will be counted towards the Core CPD hours.
Please click here for details on how you can apply for your Ethics or Rules and Regulation courses to be accredited.
With effect from 1 January 2016, a principal entity is responsible to:
a) calculate the total number of completed structured CPD training hours of each of its appointed representatives as at the end of each calendar year, and
b) maintain a register containing records of each of its appointed representatives’ total number of completed structured CPD training hours for each calendar year, and the principle must retain the register for a period of not less than 5 years from the end of the calendar year in which the appointed representative is appointed by the principal.
For enquiries, please email IBF at