Notices
Notice FAA-N26 Competency Requirements for Representatives of Financial Advisers
Eligibility and ongoing requirements for representatives of financial advisers, including entry, CMFAS examination and continuing professional development requirements.
Issued pursuant to:
Financial Advisers Act 2001
This notice applies to all licensed financial advisers, exempt financial advisers and their appointed representatives.
It sets out the following requirements for appointed representatives:
- Minimum entry requirements.
- Application of the Capital Markets and Financial Advisory Services (CMFAS) examination requirements.
- Circumstances under which the CMFAS examination requirements do not apply.
- Obligations of licensed financial advisers and exempt financial advisers to maintain a register on the representatives’ compliance with the CMFAS examination requirements.
- Continuing professional development requirements.
Related to this Notice
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Monographs/Information PapersPublished Date: 04 December 2025
Thematic review of Financial Institutions’ recruitment and onboarding training of representatives
The information paper sets out IHCC’ supervisory expectations, good practices observed and areas for enhancement in the following areas: Onboarding of representatives; Monitoring of representatives with adverse information; Onboarding training; and Other areas - Hiring of assistants by representatives and outsourced...
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NoticesLast Revised Date: 01 April 2024
Notice FAA-N13 Minimum Entry and Examination Requirements for Representatives of Licensed Financial Advisers and Exempt Financial Advisers [Cancelled]
Eligibility requirements for representatives of financial advisers, including CMFAS examination and continuing education requirements.
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NoticesLast Revised Date: 01 April 2024
Notice SFA 04-N22 Competency Requirements for Representatives of Holders of Capital Markets Services Licence and Exempt Financial Institutions
Eligibility and ongoing requirements for representatives of Holders of Capital Markets Services Licence and Exempt Financial Institutions, including entry, CMFAS examination and continuing professional development requirements.
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FAQsLast Revised Date: 01 April 2024
FAQs on Competency Requirements for Representatives of Financial Advisers
Provides guidance on the competency requirements for representatives of financial advisers, including entry, CMFAS examination and continuing professional development requirements.
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ConsultationsLast Revised Date: 28 September 2023
Consultation Paper on Draft Notices on the Competency Requirements for Representatives Conducting Regulated Activities under the Financial Advisers Act and Securities and Futures Act
To consult on the draft notices on the competency requirements for representatives conducting regulated activities under the Financial Advisers Act and Securities and Futures Act.
- Consultation number:
- P006-2020
- Start date:
- 04 September 2020
- Closing date:
- 05 October 2020
- IHCC response date:
- 28 September 2023
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ConsultationsPublished Date: 12 December 2016
Consultation Paper on Review of Competency Requirements for Representatives Conducting Regulated Activities under the Securities and Futures Act and Financial Advisers Act
Proposed enhancements to the examination framework for appointed representatives under the SFA and FAA, e.g. minimum academic qualifications under the Capital Markets and Financial Advisory Services Examination (CMFAS) and Continuing Professional Development (CPD) requirements.
- Consultation number:
- P015 - 2016
- Start date:
- 12 December 2016
- Closing date:
- 13 January 2017
- IHCC response date:
- 25 September 2017