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Continuing Training

Continuing Training for MPF Intermediaries


 
1
What are the CPD requirements for subsidiary intermediaries ("SIs")?
Under the Guidelines on Continuing Training for Subsidiary Intermediaries (effective on 1 January 2013), an SI is required to undertake a minimum of 10 hours of CPD activities in each calendar year (i.e. 1 January to 31 December each year), with at least two CPD hours to be devoted to core subject areas.  If an SI registers in the mid of the year, the number of CPD hours is pro-rated as follows:
 
Date of registrationTotal hoursMinimum hours of
core CPD activities
1 January to 31 March102
1 April to 30 June82
1 July to 30 September62
1 October to 31 December 00
2
Does the MPFA recognize CPD activities taken prior to the registration of an SI?
Under the Guidelines on Continuing Training for Subsidiary Intermediaries (effective on 1 January 2013), all CPD activities taken from 1 January to 31 December will be recognized for fulfilling CPD requirements of the same calendar year.  For example, if an individual registers as an SI in August 2013, CPD activities taken in January 2013 can be recognized.
3
If the registration status of an SI has been suspended due to cessation of attachment to a principal intermediary (“PI”), is he required to comply with CPD requirement during the suspension period?
Yes, an SI is required to comply with the CPD requirements for so long as he remains registered as an SI.  This includes any period of suspension of registration as an SI, suspension of approval of attachment to a PI, or revocation of approval of attachment to a PI.
4
What are the consequences of failing to comply with the training requirements specified by MPFA?
If a subsidiary intermediary ("SI") fails to complete the required training, his registration may be suspended. If the SI still fails to complete the training within 30 days after the start of this suspension, his registration will be revoked.
The SI will need to re-take and pass the MPF Intermediaries Examination if he wishes to be registered again.
5
What activities can subsidiary intermediaries participate in to meet the core training requirements?
Only activities that have obtained prior recognition from MPFA will be approved as core CPD hours. The MPFA publishes a List of Currently Approved MPF Core CPD Activities on its website to assist in this.
6
Does the MPFA recognize (for CPD purposes) internal training organized by service providers?
For core subject areas, subsidiary intermediaries must participate in core CPD activities that have obtained prior approval from MPFA.  Service providers can submit the relevant course information to MPFA for consideration of approval.  Please refer to the Quality Assurance Aid for MPF Core CPD Activities for details of how to apply.   
For non-core subjects, internal training is acceptable.
7
Will study hours used in preparation for the MPF Intermediaries Examination be counted as CPD hours?
No.
8
For trainers who are also registered MPF intermediaries, will the MPFA recognize his training hours as CPD hours?
Yes. Under the Guidelines on Continuing Training for Subsidiary Intermediaries (effective on 1 January 2013), trainers in any of the qualified core/ non-core CPD activities can earn CPD hours based upon the actual length of time which the trainers have taken part in the activities.  Each teaching hour is equal to 1 CPD hour.
9
Does the MPFA recognize CPD activities that are repeated activities of the same nature or same content?
Yes. Under the Guidelines on Continuing Training for Subsidiary Intermediaries (effective on 1 January 2013), core/ non-core CPD hours will be counted if they are qualified CPD activities.
10
How should subsidiary intermediaries ("SIs") report the number of CPD hours they have completed during the year?
An SI is required to report, in an annual return to MPFA, the number of core and non-core CPD hours undertaken in the preceding calendar year. In addition, SIs are required to keep these records for a minimum of three years as MPFA may inspect the documentary evidence.
11
Does a subsidiary intermediary ("SI") need to provide all attendance evidence of continuing training to MPFA in an annual return?
An SI is not required to provide all relevant attendance records to MPFA in an annual return. However, they are expected to maintain adequate records of having attended continuing training activities. Where necessary, the subsidiary intermediary may be required by the MPFA to produce records to prove compliance with the training requirement.
12
If a subsidiary intermediary has earned CPD hours in excess of the number of requisite CPD hours in any one calendar year, can the CPD hours be carried forward to the following year?
No.

Consent to Continuing Professional Development Activity Personal Information Transfer


1
Do I need to sign the consent form if I am not an MPF subsidiary intermediary ("SI")?
You do not need to sign the consent form if you are not an SI.
2
What should I do if I forget my MPF registration number when providing information to MPFA?
You can refer to your name card which should bear your MPF registration number. If you still cannot provide your MPF registration number, please provide your HK ID Card/Passport number.
3
Why do I need to sign the consent form?
The consent form is required by MPFA for the purpose of monitoring whether a subsidiary intermediary fulfils the continuing training requirement as stipulated in the Guidelines on Conduct Requirements for Registered Intermediaries and the Guidelines on Continuing Training for Subsidiary Intermediaries.
4
What will be the consequences if I fail to sign the consent form?
The MPFA may check a subsidiary intermediary's continuing training records. Failure to sign the consent form may mean that the activity provider is not allowed to transfer your training records to MPFA and hence MPFA is not aware of your attendance at continuing training activities.
5
Does MPFA recognize the core CPD hours acquired if I do not sign the consent form?
If you have successfully completed the approved CPD activities, these count towards your core CPD hours even though the consent form is not signed. However, failure to sign the consent form may mean that the activity provider is not allowed to transfer your training records to MPFA and hence MPFA is not aware of your attendance at continuing training activities.
6
Do I still need to sign the consent form or provide my consent to the activity provider if the CPD activity is provided by my sponsoring corporation?
Yes, MPFA requires your consent to the activity providers in order to access your CPD records for the purpose of CPD compliance monitoring.
7
What is the responsibility of the activity provider in keeping the consent form which forms part of the application/enrolment form?
The activity provider should keep the records for a minimum of three years and provide the records to MPFA upon request.
8
If I have any queries regarding the consent form, what can I do?
Please contact your activity providers or MPFA.
 
 

Last Revision Date: 01/03/2013