What happens if I have a shortfall in hours?

If you have a shortfall in CPD hours, you will be considered non-compliant, and your designation(s) may be at risk. However, there are steps to rectify this:

If you do not meet your CPD requirements by 31st December, you will have a grace period in the following year to make up the shortfall. The grace period lasts until 31st December of the following year, during which you must complete both:

• The shortfall from the previous year
• The current year’s full CPD requirement

Second Shortfall Warning

If you second shortfall within a five-year period this will result in the suspension of your designation. The Suspension period lasts until the catch up CPD from the previous year is completed, during which you must complete both:

• The shortfall from the previous year
• The current year’s full CPD requirement

Third Shortfall Warning

A third shortfall within five years will result in the removal of the designation, which can only be reinstated once both the outstanding CPD and the current year's CPD requirements are fulfilled.

• The shortfall from the previous year
• The current year’s full CPD requirement
• Consequences of Non-Compliance

If you do not address your shortfall:

• You lose your designation(s) and may no longer be listed as an Accredited Person.
• You may need to re-sit and pass exams to regain your qualification.
• If your designation is removed, you must stop advising on financial products related to that qualification.