To meet the Central Bank’s Minimum Competency Code (MCC), an overall total of 15 CPD hours must be completed by all accredited individuals (e.g.QFAs, RPAs, CUAs, APAs, and CPD Members) each year (unless additional catch-up hours are required or a pro-rata adjustment has been made).
Those holding more than one designation are required to complete only one ‘set’ of 15 hours. Under the MCC, at least one of your 15 CPD hours must be related to Ethics and at least one of the remaining 14 hours must be relevant to each category of retail financial product in which you are accredited. The good news is that in some cases, individual CPD activities can satisfy the one-hour requirement across more than one category (e.g. some LIA CPD seminars, LIA exams, online MyCPD [www.mycpd.ie] modules etc.)
All LIA members, regardless of designation or accreditation, are entitled to attend all CPD Seminars. Indeed, from an educational perspective, we would encourage members to attend Seminars dealing with topics with which they are unfamiliar.
However, from a CPD standpoint, members need to ensure that events they attend (or MyCPD modules they complete) are directly relevant to their designation and/or to categories in which they are accredited, particularly when logging their hours online or completing their Annual Return.
So, while individuals are free to undertake CPD relevant to categories of product for which they are not accredited, they obviously do so for the purposes of advancing their knowledge in other areas of the industry – such hours should not be included on their CPD Annual Return.
Check the CPD guidelines document relevant to your status (see right) for full details.
Note that the Accreditation number for the CPD Annual Update is available from August each year.