Continuing Professional Development

Short courses

Our learning management system provides you and your organisation all the usual features you’ve come to expect – an intuitive interface, reliable access to content, and insightful tracking and reporting.

Each CPD course has specific learning outcomes, reflections and extra resources and activities, and is assessed via a short online multiple choice quiz. You have 8 weeks to complete the course.

Whether you just need a top-up or are looking to switch your entire program, we have the right CPD solution for you. We offer customised corporate CPD training and plans supported by a first class client support team.

To better target your organisation’s requirements, a tailored training solution may be the answer. Contact us for a Corporate Solution.

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RG206 Short Courses

Responsible Lending

It is a condition of the licence under which ACL holders operate that their consumer lending must be ‘responsible’. In light of the Royal commission into Misconduct in the Banking, Superannuation and Financial Services Industry discovering numerous examples of poor lending practices, you might find our refresher on responsible lending obligations rather timely.

In this course you will learn to:

  • Define responsible lending
  • Explain to whom responsible lending provisions apply
  • Discuss the primary responsible lending obligations
  • Outline the key steps in applying responsible lending provisions
  • Analyse issues arising from the Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry
  • Interpret case studies to identify potential conduct risks for credit providers.

4 CPD points/hours

Credit Scoring

This course looks at the use of credit scores and reports for screening individuals and businesses who are applying for loans. It considers the limitations in these scoring systems and reports, and how their use fits with the lender’s obligations under responsible lending.

It also covers the obligations of lenders and credit reporting bodies, and the remedies and searches available to consumers when they have a concern about their report.

Lastly, the course covers credit repair agencies and provides a real-life case study from the Credit and Investments Ombudsman (CIO) showing why a default was removed from a credit report for a consumer.

In this course you will learn to:

  • Define what credit scoring is and how it works
  • Identify the main bodies that provide scoring and how they categorise individuals
  • Explain how credit scoring fits with responsible lending obligations
  • Discuss the rights consumers have to access records and amend them
  • Analyse a case study to identify best practice and breaches in credit reporting obligations.

4 CPD points/hours

Managing ethical dilemmas in credit

So, what is ethics and how can your credit organisation go about using ethical standards to both cultivate a flourishing workplace culture and maintain sound professional conduct? Whether it’s a general discussion about consumers’ decreasing trust in institutions, or a specific focus on the interrelationship between corporate culture and professional conduct, commentary about ethics is everywhere.

On completion of this topic, participants should be able to:

  • Describe what ethical standards and principles are
  • Differentiate between ethical standards and the legal framework
  • Outline the characteristics of ethics
  • Discuss drivers of ethical behaviour
  • Explain why ethics and an ethical approach are crucial in financial service

4 CPD points/hours

RG105 Short Courses

Recent ASIC cases and policy highlights

It’s more important than ever to stay informed about key aspects of ASIC’s current and ongoing areas of focus.

After revisiting ASIC’s role and powers, we overview ASIC’s enforcement priorities and some important cases. Discover ASIC’s approach to and regulatory guidance on various financial services activities, and ensure that your and your organisation’s compliance standards are future ready.

In this course you will learn to:

  • Describe ASIC’s powers under the Corporations Act and the ASIC Act
  • Outline what ASIC’s key strategic priorities are as the regulator of financial services in Australia
  • Explain what powers are available to ASIC in order for it to satisfy its regulatory functions
  • Discuss how ASIC has recently exercised its powers with regard to licensees that have acted contrary to their licence and other regulatory obligations
  • Examine what ongoing and emerging issues are currently of particular interest to ASIC, including why they are relevant to ASIC’s activities, and how developments and policy outcomes are likely to impact licensees.

3 CPD points/hours

Breaching bad: Meeting your breach management obligations

This topic refreshes your knowledge of what information licensees need so they can recognise specific elements that constitute a breach, or likely breach. Each breach, or likely breach, needs to be treated on a case-by-case basis, and licensees need to take into account the circumstances to determine whether the breach is significant and thus reportable.

Licensees must take into consideration matters such as the impact on its ability to continue providing financial services, as well as whether its current arrangements are adequate to ensure ongoing compliance with its obligations.

In this course you will learn to:

  • Identify, with respect to a licensee’s obligation, what constitutes a breach, or likely breach, of its legislative requirements
  • Outline the process of recording a breach, or likely breach, in the records of a licensee
  • Demonstrate the process of reporting a breach, or likely breach, to ASIC
  • Discuss how ASIC evaluates reported breaches and how it determines which items to investigate further

3 CPD points/hours

Roles and Responsibilities of a Responsible Manager

Clearly change is required; and boards are likely to look to key roles of accountability such as responsible managers – with their knowledge of business operations and oversight of compliance performance – to help bring about that change.

This topic covers key requirements for the role and also acts as a reminder of what you need to do on an ongoing basis. We also delve into the post Royal Commission regulatory environment and the “BEAR” on the horizon.

In this course you will learn to:

  • Define the role and attributes of a responsible manager
  • Outline the implications of a Key Person condition
  • Identify the education and competency requirements to be appointed as a responsible manager
  • Evaluate the extent to which a responsible manager can be held accountable for the actions of a licensee
  • Explore and recommend approaches and techniques responsible managers can adopt to more effectively fulfil their role.

3 CPD points/hours

Improving culture and conduct in the workplace

Treating your internal people and customers well is good for business. Here’s our exploration of how you might successfully navigate the interplay between culture, ethics and conduct in your organisation and beyond.

In the wake of the Royal Commission and increased scrutiny of financial services on the part of regulators and customers alike, you might find this course rather timely!

In this course you will learn to:

  • Define what organisational culture is
  • Examine the components that comprise organisational culture
  • Analyse the influences of internal and external factors on organisational culture
  • Discuss the importance of ethics in decision making
  • Identify contributing factors to poor and sound organisational culture and conduct

3 CPD points/hours

RG146 CPD Short Courses

Licensees have an obligation to maintain their competence to provide the financial services authorised under their AFS licence: see s912A(1)(e). Our CPD short courses offers you online solutions to satisfy RG146 general advice ongoing requirements with a range of generic knowledge and specialist technical topics.

Register to preview our RG146 CPD system and content

Generic Knowledge

Spotlight on technological competence

Many a financial services professional will probably claim to be aware of their general obligations. But an often overlooked area is that of technological resources. What does that mean, and what do the law and ASIC expect licensees to have in place?

Join us as we examine what ‘adequate technological resources’ look like in practice. Through case studies, we also explore how recent and emerging technological solutions can beneficially contribute to licensees meeting their obligation to act efficiently, honestly and fairly.”

In this course you will learn to:

  • Outline the general conduct obligations of Australian financial services licensees
  • Define ‘adequate technological resources’
  • Explain the purpose of meeting the obligation to have ‘adequate technological resources’ and identify internal or customer-facing scenarios in which it comes into play
  • Via practice-based case studies, examine how licensees and their authorised representatives can use technological resources to improve financial service and product delivery and remain compliant.

3 CPD points/hours

The Consumer Data Right is here

Around the world, consumers are winning the fight for the right to their data.

According to the World Economic Forum, user-centric, interoperable digital identities and trustworthy data sharing can enhance social and economic wellbeing. As Australia begins its Consumer Data Right journey, institutions and consumers alike can look forward to collaborating on exciting financial services product and service adventures.

This online course reveals what’s happening, who CDR immediately affects and when, and what opportunities and requirements CDR implementation presents for financial services institutions, ancillary service providers, and the Australian community at large.

In this course you will learn to:

  • Discuss the influence of how financial markets participants have historically analysed data on how future data is interpreted
  • Describe the wealth effect and how consumer behaviour impacts economic activity and market sentiment
  • Evaluate the extent to which financial market activity around cash, inflation, foreign exchange, property, equity markets, research and analysis, and business news reporting transfers to everyday happenings
  • Analyse financial markets’ fascination with and the value of bizarre correlations between economic activity and patterns in commonplace behaviours.

3 CPD points/hours

View from the intersection of Wall Street and Main Street

“Is there a connection between asset prices and the real economy?” is an intriguing question. Naturally, financial market participants fiercely debate whether connections between the two should be expected.

So, what is the predictive power of asset prices and can any rules of thumb be relied on? From the influence of commonly traded assets and instruments, to some of the more curious subjects of indicators (lipstick, Coca-Cola and Superbowl results, really?) we examine whether what happens in financial markets makes its way to everyday people on their local streets.

In this course you will learn to:

  • Discuss the influence of how financial markets participants have historically analysed data on how future data is interpreted
  • Describe the wealth effect and how consumer behaviour impacts economic activity and market sentiment
  • Evaluate the extent to which financial market activity around cash, inflation, foreign exchange, property, equity markets, research and analysis, and business news reporting transfers to everyday happenings
  • Analyse financial markets’ fascination with and the value of bizarre correlations between economic activity and patterns in commonplace behaviours.

3 CPD points/hours

Regulation and Ethics

Design and distribution obligations and product intervention powers

They’ve been five or so years in the making but participants in many major financial centres, including Australia, are having to adjust to the introduction of design and distribution powers and product intervention powers (DDO & PIP). New rules, among other outcomes, dramatically alter traditional information flows between product issuers, advisers and end consumers, and expose issuers to unprecedented levels of scrutiny and potentially even liability.

So, what entities and products are most affected, and how? After briefly tracing the journey from conception to DDO & PIP implementation, we explore what areas are being targeted first and what the new measures might mean for your organisation.

In this course you will learn to:

  • Discuss the emerging global and domestic themes that drove the creation and implementation of design and distribution obligations and product intervention powers
  • Outline the key milestones in the development of design and distribution obligations and product intervention powers in Australia
  • Explain the overarching principles regarding design and distribution obligations
  • Identify how ASIC intends to exercise its product intervention powers in general terms and with respect to sectors it has announced it is planning to use them for
  • Evaluate how the conduct of financial services institutions in Australia will be impacted by design and distribution obligations and product intervention powers.

3 CPD points/hours

Know your client refresher

It’s a given that Australia’s Anti-money laundering and counter terrorism financing (AML/CTF) regime is a critical component of the country’s defence against money laundering and organised crime.

This course will offer insights into risks and know your customer obligations that you or others you deal with will need to monitor and comply with.

In this course you will learn to:

  • define what money laundering is
  • discuss the reasons why criminals launder money and the economic and social consequences of those actions
  • identify the three stages of money laundering
  • describe the principal uses and sources of money by terrorist organisations and the principle methods used to transfer money
  • outline the key requirements of the Anti-Money Laundering and Counter-Terrorism Financing Act 2006 and Financial Transaction Reports Act 1988, and to whom they apply
  • examine what the AML/CTF Rules are and how AUSTRAC promotes compliance with the legislation
  • evaluate the importance of customer due diligence explain the recent changes to the AML/CTF Rules impacting customer due diligence.

3 CPD points/hours

Managing ethical dilemmas in financial services update

Whether it’s a general discussion about consumers’ increasing trust of business and social networks over institutions, or a specific focus on the interrelationship between corporate culture and professional conduct, commentary about ethics is everywhere.

In a climate of urgent desire for change, how do you overcome hurdles and ensure that navigating the interplay between culture, ethics and conduct in your organisation and beyond makes for a smooth ride.

In this course you will learn to:

  • Describe what ethical standards and principles are
  • Differentiate between ethical standards and the legal framework
  • Discuss drivers of ethical behaviour
  • Explain why ethics and an ethical approach are crucial in financial services
  • Outline an ethical decision-making process
  • Summarise common breaches of ethical standards in financial services, including the attitudes, behaviours and activities that give rise to them

3 CPD points/hours

Privacy and data protection refresher

As recent events have shown, unauthorised entities accessing sensitive data can affect any business and erode customer trust and confidence. With technology transformation gathering speed, there’s never been a more important time for your organisation to review its privacy and data protection framework.

Incorporating some high profile cases, here’s an outline of the key issues you need to consider to ensure your organisation’s privacy and data protection activity is compliant and modelling best practice.

In this course you will learn to:

  • Outline the background to Australia’s privacy and data protection regime
  • Identify if and when privacy and data protection laws apply to your organisation
  • Discuss the privacy and data protection laws in place in Australia and how they are enforced
  • Describe why data breaches occur and how they must be reported; and recommend ways they can be risk managed
  • Determine how your organisation should go about developing and maintaining a sound privacy and data protection framework; and assess the risks of not having such a framework.

3 CPD points/hours

Providing general vs personal advice

All advisers must know the differences between information and general and personal advice. They must also understand and adhere to disclosure requirements for retail versus wholesale clients. It’s all part of being a fit and proper financial services professional who delivers the best outcomes for clients.

It’s all part of being a fit and proper financial services professional who delivers the best outcomes for clients, now and into the future.

In this course you will learn to:

  • Identify the different types of financial product advice and the methods by which each can be provided
  • Describe the difference between factual information and advice
  • Differentiate wholesale clients from retail clients
  • Explain the differences between personal advice and general advice
  • Outline how individuals who provide personal advice to retails clients are registered
  • Discuss how a licensee may limit the advice that it provides to a retail client
  • Evaluate the new ways licensees are providing advice.

3 CPD points/hours

RG234 Marketing financial products

RG 234 applies to any communication intended to advertise financial products, financial advice services, credit products or credit services.

For many marketers over the years, the old adage of “not letting the truth get in the way of a good story” may have been all the justification they needed for pushing the boundaries with extravagant claims for all sorts of products. But for the financial services sector, the potential to do great harm by making unsubstantiated claims in advertising far outweighs the damage caused by unproven statements regarding the effectiveness of a teeth-whitening toothpaste.

In this course you will learn to:

  • Identify the factors that contributed to ASIC consulting on and issuing RG 234
  • Differentiate marketing and advertising from other forms of disclosure
  • Outline what marketing and advertising activities RG 234 covers
  • Discuss how ASIC supervises compliance with RG 234 and what enforcement powers it has
  • Describe how compliant marketing and advertising fits into a licensee’s obligations
  • Evaluate strategies and approaches responsible managers and leaders can adopt to promote compliance with RG 234 within their organisation.

3 CPD points/hours

Securities

Equity, debt and hybrid securities

When investors think of securities, the financial instrument that comes to mind are shares that are traded on a stock exchange. Indeed, shares are the most popular and widely traded financial instrument, however, there are a wide range of other assets (or financial instruments) that come under the definition of a ‘security’.

In this topic we take a look at the various types of equity, debt and hybrid securities and analyse the key concepts and characteristics of each type of security. We also consider the risks and benefits from the perspective of the investor, and the main benefits and risks of raising capital from the perspective of the issuer.

In this course you will learn to:

  • outline the characteristics of ordinary shares and a range of related concepts
  • identify the main benefits and risks of investing in shares
  • outline the main benefits and risks of raising capital through the issue of shares
  • outline the characteristics of debt securities and a range of related concepts
  • identify the main benefits and risks of investing in bonds and other debt securities
  • outline the main benefits and risks of raising capital through the issue of debt securities
  • outline the characteristics of commonly-used hybrid securities and a range of related concepts
  • identify the main benefits and risks of investing in hybrid securities
  • outline the main benefits and risks of raising capital through the issue of hybrids.

3 CPD points/hours

Investing in equity crowdfunding

Capital raising officially has a new mechanism. Welcome crowd-sourced equity funding. Eligible unlisted public companies and eligible proprietary companies that meet legislated criteria can now use ASIC-regulated platforms to offer ordinary shares in exchange for investor capital.

Here’s what you and you clients need to know.

  • What is crowd-sourced equity funding anyway?
  • CSF legislation – what was in place and what is new
  • Companies making CSF offers
  • CSF Intermediaries as gatekeepers
  • AFS Licence for CSF Intermediaries
  • Crowd-sourced funding risks
  • ASIC’s role in this space
  • What’s on the horizon

3 CPD points/hours

Taxation of securities (2019-20 rates)

An investment in securities carries with it taxation implications, and any earnings made from securities – income or capital gain – are taxable. As an adviser, you should have a broad understanding of how securities are taxed and therefore tax implications for your clients.

Remember, though, that tax should be one of many aspects an adviser should factor in when providing advice in securities. Here’s our round-up of primary tax issues and some tips for ensuring that tax doesn’t overshadow other equally critical considerations.

In this course you will learn to:

  • Outline the importance of considering taxation when investing in securities
  • Explain the taxation implications of dividends from shares and income from other types of securities
  • Describe how the dividend imputation system works
  • Calculate the tax payable on dividends, after adjusting for imputation
  • Identify the four ways that capital gains can be treated depending on when a security was purchased by an investor
  • Examine the various considerations an adviser must take into account when advising a client on taxation issues applying to securities

3 CPD points/hours

The long and short of short selling

In this course we take a high level look at short selling. We look at what short selling is, who does it and why, and the extent of its use in Australia’s financial markets. We consider some of the positive and negatives of short selling for investors as well as for the companies they take short positions in.

Finally, we look at the Australian Securities and Investments Commission’s (ASIC) regulatory focus on short selling and how the fallout in global markets during the global financial crisis (GFC) prompted ASIC to place a temporary ban on short selling.

In this course you will learn to:

  • Define what short selling is and articulate the reasons for its use in financial markets
  • Identify the participants that undertake short selling and their motivations behind shorting a stock
  • Summarise the advantages and disadvantages of short selling to investors, listed companies and the broader financial markets
  • Appreciate the reasons as to why regulators around the world, including the ASIC, chose to place temporary bans on short selling during the height of the GFC
  • Outline the short selling/disclosure requirements and the information that this disclosure provides to investors and other market participants
  • Appreciate the unique mind-set required of short sellers, reflect on the ethics behind short selling, and note the reasons why short selling has such polarising views among investors and market commentators

3 CPD points/hours

Derivatives

Advising clients on retail OTC derivatives

Not all activity in financial markets is investment related. Some product and service providers and traders seek to profit from their view on the short-term price direction of particular underlying assets, such as foreign exchange, indices, share prices, commodity prices, interest rates, and more recently, cryptocurrencies.

Following a recap of financial services regulation in Australia, we explore rules specific to retail OTC derivatives, comparing ASIC’s stance to those of global peers to ascertain how the near-term regulatory climate is shaping up.

In this course you will learn to:

  • explain how the financial services industry is regulated in Australia
  • identify the instruments, providers and trader types that comprise the retail OTC derivatives sector
  • outline the primary laws and regulatory requirements that apply to the offering and trading of retail OTC derivatives
  • discuss how ASIC has applied various regulatory tools in its enforcement of retail OTC derivatives conduct obligations
  • compare how retail OTC derivatives are regulated in Australia with rules and obligations that apply in other major financial markets overseas.

3 CPD points/hours

CFDs fundamentals

Contracts for Difference (or CFDs for short) have evolved from being an investment solution commonly used in the institutional sphere, to now servicing traders in the retail sphere as well.

In this topic, we look at what CFDs are and the markets that are covered. We then have a look at the various types of CFDs and consider how trader trends have changed over time to see attention focused on areas such as foreign exchange and indices. We also explore some basic trading strategies and how this compares to more traditional derivatives. Finally, we look at how regulations have evolved in the face of this product.

In this course you will learn to:

  • Identify the key characteristics of CFDs that have driven their popularity in Australia and in other markets around the world
  • List the markets that are covered by CFDs
  • Explain the different types of CFD providers and how they impact traders
  • Discuss some of the requirements when dealing with CFDs, particularly in relation to commission and financing charges, and disclosures
  • Differentiate CFDs from other types of derivatives
  • Construct some basic CFD strategies
  • Outline the key concerns that have been voiced by regulators and some of the steps that have been taken to address these by the industry (both self-motivated and mandated).

3 CPD points/hours

Hedging Australian fixed interest using futures and options

Participants in fixed interest markets span a broad spectrum of financial markets, ranging from corporations borrowing and lending funds, payment services providers arranging deals for clients or hedging inherited positions, and fund managers and advisers maximising returns for their clients.

Among the instruments they trade are long-term fixed interest instruments such as bonds and swaps. Here’s our overview of the main participants in Australia’s fixed interest market and how they go about using derivatives to manage their capital market and investment risks. We revisit some fixed interest derivatives fundamentals before devising and pricing appropriate strategies for various types of clients.

In this course you will learn to:

  • Outline the key participants in fixed interest derivatives markets and their purpose for transacting
  • Discuss the sources of risks in trading fixed interest instruments
  • Devise fixed interest derivatives strategies using futures
  • Evaluate simple and complex fixed interest derivatives strategies using options
  • Explain recommended steps to follow when advising clients on fixed interest derivatives.

3 CPD points/hours

Hedging Australian fixed interest using swaps and FRAs

As with exchanged-traded markets, participants in over-the-counter (OTC) interest rate markets span a broad spectrum of financial markets operations, ranging from corporations borrowing and lending funds, payment services providers arranging deals for clients or hedging inherited positions, and fund managers and advisers maximising returns for their clients.

Among the OTC interest rate derivatives traded are interest rate swaps and forward rate agreements (FRAs). Because these instruments are traded over the counter, provided a party can negotiate with a willing counterparty all aspects of the contract can be tailored.

In this course you will learn to:

  • Define what interest rate swaps and FRAs are, and outline the meaning of market conventions associated with dealing in these financial instruments
  • Identify the key participants in OTC fixed interest derivatives markets and their purpose for transacting
  • Discuss the sources of risks in trading OTC fixed interest instruments
  • Devise simple and complex OTC fixed interest strategies using swaps and FRAs
  • Analyse solutions and potential outcomes of OTC fixed interest strategies using swaps and FRAs
  • Explain recommended steps to follow when advising clients on OTC fixed interest derivatives.

3 CPD points/hours

Managed Investments

Analysing investment performance

Investing is arguably one of the most emotional pursuits that a person can engage in.

In this topic we take a high level look at investment performance and some of the key issues around measuring investment and manager performance, techniques such as attribution analysis, and the importance of taking into account the impact of fees and charges on an investment’s return. It gives you some key issues to take into account when investing and reviewing performance. We also look at property valuation and what investors should look out for when investing in Australian Real Estate Investment Trusts (A-REITS).

In this course you will learn to:

  • Outline the key issues involved in the analysis of investment performance
  • Discuss the principles behind attribution analysis
  • Describe how to evaluate the different fees and charges that are applied to specific managed investments
  • Evaluate various approaches to analysis that can be adopted by an investment manager
  • Examine specific issues that arise in the analysis of property trusts
  • Demonstrate key property valuation techniques.

3 CPD points/hours

Investing in listed and unlisted property

Public and private investment in property has been a major feature of the Australian investment landscape over the past three decades. The inception of the Real Estate Investment Trust model was a critical mechanism for opening up property investment opportunities to retail investors in Australia, the US and Europe, and also increasingly in developing countries.

Property investment can now be accessed in myriad ways, ranging from equity and debt structures, and via both public and private offerings. The scale of assets now spans billion dollar building complexes to single residential dwellings.

In this course you will learn to:

  • Outline the position of property as a managed investment asset class
  • Differentiate listed and unlisted property, including their structure and key characteristics
  • Discuss the primary factors related to investing in property
  • Evaluate the structures, portfolio construction considerations, benefits and risks of investing in listed property
  • Appraise the structures, portfolio construction considerations, benefits and risks of investing in unlisted property
  • Analyse current trends and forecasts for the property investment landscape.

3 CPD points/hours

Managed Investments: Players and technology

Managed investment is the broad service of professionally investing money, while investment management is an integrated set of steps undertaken in a consistent manner to create and maintain an appropriate portfolio (combination of assets) to meet clients’ stated goals.

With these definitions in mind, this topic will consider the role of each investment management element, and outline how, where and what value it brings to managed investment services. We also examine the emerging trends, asset types and ideas that are prompting re-shaping of conventional approaches in the industry.

In this course you will learn to:

  • Outline the roles of main players in the investment management space
  • Identify the typical stages of the investment management process
  • Analyse the various approaches and techniques used to construct, maintain, performance measure and review a managed investment portfolio
  • Discuss the key principles underpinning the concept of diversification
  • Describe the primary asset classes and investment structures adopted by investment management professionals
  • Evaluate the opportunities and challenges posed by emerging trends in investment management.

3 CPD points/hours

Foreign Exchange

Calculating cross rates and forwards refresher

The foreign exchange market is one of the largest financial markets in the world, operating worldwide on a 24-hour basis, and attracting high liquidity and large volumes of currency trading daily.
With the advent of real-time information and electronic trading, it is all too easy to overlook the importance of maintaining knowledge of foreign exchange fundamentals. Whether you’re onboarding a new team member or just want to reassure yourself that your platform is giving you the rate you were expecting – and therefore that you haven’t mis-entered any figures – we trust you’ll find our refresher on cross rates and forwards helpful and comforting.

In this course you will learn to:

  • Outline how foreign exchange markets operate and the nature of activities conducted by the primary participants
  • Discuss the factors that impact foreign exchange and analyse their influence on pricing
  • Explain common terminology and concepts relevant to participants in foreign exchange markets
  • Define what an FX swap is and identify typical circumstances when an FX market participant might transact one
  • Devise strategies for providing long-term foreign exchange solutions for a client
  • Describe the features, purpose and advantages of non-deliverable forwards and demonstrate an NDF transaction.

3 CPD points/hours

Current trends and innovation in FX and payments

Given that humans have long seen wisdom and value in exchanging items they have for something else they need or want, through transacting with another person, foreign exchange and payments systems have contributed richly to how we facilitate our everyday lives.

Explore how evolving infrastructure and consumer behaviour are influencing product and service development in foreign exchange markets and payments systems.

In this course you will learn to:

  • Outline what a payments system is and identify the most popular methods of payment in Australia
  • Discuss what megatrends are driving and facilitating development of new payments and FX-related products and services
  • Evaluate how foreign exchange and payment systems rails are currently evolving
  • Describe the features of decentralised or non-traditional payment systems
  • Analyse key emerging infrastructure, products and services and how they may impact foreign exchange and payments providers
  • Identify the opportunities and challenges for FX and payments providers.

3 CPD points/hours

Foreign exchange: From Bretton Woods to Brexit

It’ll come as no surprise that the foreign exchange market is the oldest and largest in the world.

In this FX refresher, we revisit the history of foreign exchange markets. Then we explore key statistics, major currencies, and the primary participants and why they’re there, before evaluating various techniques traders use to analyse markets and develop trading strategies.

In this course you will learn to:

• define the foreign exchange market
• discuss alternative exchange rate regimes
• describe the structure of the foreign exchange market
• list the participants in the foreign exchange market, and the roles they perform in the market
• outline the risks that each of these participants face in the market
• evaluate a range of factors that influence exchange rates
• demonstrate the basics of fundamental and technical analysis as they apply to foreign exchange.

3 CPD points/hours

Superannuation

Advising clients in annuities

Annuities are a useful method for managing longevity risk in retirement but lack the flexibility and investment returns achieved with alternates, such as account-based pensions. Annuities have consequently been of limited interest to many investors, and they are currently offered by only two providers in Australia. That said, proposed changes to superannuation obligating funds to offer annuities may lead to an increase in the take-up rate for retirees.

In this course you will learn to:

  • Define what annuities are
  • Discuss the key features, benefits and risks of annuities
  • Explain the taxation and social security treatment of annuities
  • Analyse strategies for longevity management
  • Compare annuities to alternative sources of post-retirement income.

3 CPD points/hours

Types of contributions to grow your super

Superannuation contributions are important, as clients who contribute more money to the superannuation environment in the most tax effective manner are more likely to be able to beneficially fund their income needs in retirement.

So, what various types of contributions can be made, what are their eligibility criteria, how much can be contributed, and what are the taxation implications?

In this course you will learn to:

  • Recognise the three main aspects that comprise the tax structure of superannuation
  • Explain the types of concessional and non-concessional contributions, including who can make them, who can receive them, and the taxation implications of each
  • Discuss key features of and rules governing new downsizer and first home superannuation saver scheme (FHSSS) contributions
  • Examine other types of contributions, such as small business capital gains tax and personal injury contributions
  • Evaluate the advantages of contributing to superannuation.

3 CPD points/hours

Superannuation governance for super funds

Since its inception, by its very nature governing and administering superannuation is a complex business – a circumstance that has not diminished throughout its continuing evolution.

Following our overview of the legal framework that applies to super funds, delve into the intricacies of implementing some of the major reforms that have been instituted in recent times, including those related to trustee conduct, investment performance disclosure and other member communication, holding insurance inside super, and member account administration.

In this course you will learn to:

  • Discuss the legal and regulatory requirements for governance oversight of a super fund
  • Identify the roles of APRA versus ASIC in regulating superannuation funds
  • Explain the various aspects of ensuring that a super fund is administered compliantly
  • Outline how APRA and ASIC license super funds to operate
  • Evaluate the characteristics and purpose of superannuation reforms that have been progressively introduced over the past decade.

3 CPD points/hours

Life Insurance

Australian Consumer Law

The Australian Consumer Law (ACL) is the principal consumer protection law in Australia. It is a single, national law which applies in the same way nationally and in each State and Territory.

Under ACL, consumers have the same protections and expectations about business conduct wherever they are in Australia. Similarly, businesses have the same obligations and responsibilities wherever they operate in Australia.

In this course you will learn to:

  • Explain the key legislation and regulatory bodies that comprise and oversee Australian Consumer Law
  • Discuss the provisions and purpose of the general and specific protections in Australian Consumer Law
  • Evaluate resources and tools available to businesses to ensure compliance with Australian Consumer Law, including Codes of Practice
  • Analyse how regulators and dispute resolution schemes provide guidance to businesses through examining relevant case studies.

3 CPD points/hours

Fulfilling quests with Investment bonds

Investment bonds, also known as insurance bonds or growth bonds, came into existence in the early 1980s and became a very popular investment vehicle because of their tax effectiveness and the way that they enabled investors to save for significant life events.

With the advent of superannuation and other sophisticated investment options, they fell out of favour. Explore why investment bonds are currently enjoying a renaissance, partly attributable to regulatory changes and shifts in investor needs.

In this course you will learn to:

  • Define what an investment bond is
  • Outline who the primary investment bond providers are
  • Identify what investor types investment bonds are most suitable for
  • Discuss the features, benefits and risks of the main types of investment bonds
  • Explain investment, estate planning and social security considerations relevant to advising clients on investment bonds
  • Describe disclosure requirements, including fees and charges, applicable to marketing or purchasing investment bonds.

3 CPD points/hours

Margin Lending

Gear up for margin lending advice

A margin or investment loan is a form of gearing that lets clients borrow money to invest in approved shares or managed funds, using their existing cash, shares or managed funds as security. So, how does margin lending work?

Investigate who uses margin loans and why, the wiles of portfolio monitoring and margin calls, regulation of margin lending, and other ways to fund investing. Through our case study, explore the value of risk profiling and how to make margin lending recommendations to suit particular types of clients.

In this course you will learn to:

  • Analyse what margin lending is, and why and how it works
  • Calculate amounts required to meet margin call obligations
  • Explain how margin lending regulation is covered under licensing obligations
  • Evaluate alternatives to margin loans
  • Discuss the importance of effective risk profiling when assessing client suitability for a margin loan
  • Recommend an appropriate margin lending strategy for a given client.

3 CPD points/hours

Responsible lending for issuers and advisers of margin lending facilities

A major provision of the current regulation of margin lending is that it must be done “responsibly”. One dictionary definition of “responsible” is “answerable or accountable, as for something within one’s power, control, or management”. So, in everyday terms, responsible lending refers to lending where the person providing or advising on the lending is accountable for that lending.

In this course you will learn to:

  • Explain the concepts of responsible lending, unsuitability and “reasonable inquiries” which are included in the new margin lending laws
  • Outline situations which the law prescribed must be treated as “unsuitable”
  • Describe how a margin lender, in practice, might implement the responsible lending obligation
  • Appraise the types of investors who might be able to be considered a suitable for margin lending
  • Describe margin call obligations and reporting obligations of margin lenders.

3 CPD points/hours

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