CONTINUOUS PROFESSIONAL DEVELOPMENT
Class of business in the context of financial services training refers to training that, focuses on a general product category knowledge with in relation to a specific Line of Business. The proposed legislation suggests that only an accredited providers or educational institutions can provide class of business training.
WHO SHOULD ATTEND CLASS OF BUSINESS TRAINING?
An FSP, key individual and representative must -
(a) maintain the required competence to render or manage or oversee the financial services for which the FSP, key individual and representative are authorised, approved or appointed;
(b) comply with the minimum CPD requirements
There are exceptions for certain types of business someone does and how it is run, if unsure please contact the compliance Manager.
See Board Notice for more detailed information