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FAQs (For Consultants)

FAQs (For Consultants)

Criteria to Become a Unit Trust Consultant/Private Retirement Scheme Consultant

Yes, you can register as a Unit Trust Consultant (UTS Consultant) or as a Private Retirement Scheme Consultant (PRS Consultant). The minimum requirement is three (3) credits in SPM or equivalent.
No. You can register as a UTS/PRS Consultant once you have been released from your bankruptcy status.

Computerised Unit Trust Examination (CUTE) & Computerised Private Retirement Scheme Examination (CPRE)

In order to take the CUTE/CPRE Examinations, you must be registered with a Distributor.
You will know whether you have passed or failed the examination immediately after the end of the exam session. For your records, we recommend that you request for a printout of your result from the examination centre.
No. Once your examination session/date is confirmed, no changes can be made. The examination fee will NOT be refunded. If you missed your examination session and wish to sit for the next session, you will have to register for the next examination session and pay the required fee.
You can check with your Distributor on the details of your exam session.
There are three options: Bahasa Malaysia, English, and Chinese.

Continuing Professional Development (CPD)

This programme is designed to ensure that:
  • Consultants develop and maintain technical and professional competency in providing good advice and services to their clients; and
  • Consultants give the very best of their ability, and adhere to the highest standards set by FIMM, hence the requirement for a high degree of benchmarking and standard setting within the industry.
All individuals registered with FIMM as a Unit Trust Consultant and/or Private Retirement Scheme Consultant.

New registration

Individual who has never been registered as Consultant before and has passed CUTE/CPRE and meeting the eligibility requirements set forth as per FIMM Consolidated Rules (FCR) OR Individual who has been registered as Consultant before but has withdrawal his registration for more than 3 years from the date of withdrawal of his registration. He/she must re-sit and pass the CUTE and/or PRS examination and meet the eligibility requirements set forth as per FIMM Consolidated Rules (FCR).  

Re-registration

A former Consultant who applies for registration within 3 years from the date of withdrawal of his registration. He/she must obtain a minimum of 16 CPD points in current year or/and previous year before an application for re-registration will be considered by FIMM. If more than 3 years, he/she must re-sit and pass the CUTE and/or PRS examination.  

Renewal of registration

An active Consultant who is registered with FIMM is required to renew their registration on yearly basis by 31 December. Consultant must obtain a minimum of 16 CPD points in a year before an application for renewal of his registration will be considered by FIMM.
A Consultant must obtain a minimum of 16 CPD points in a calendar year before an application for renewal of his registration will be considered by FIMM. Here are some scenarios that you can refer to:
a.

I’m currently registered with FIMM as a Unit Trust Consultant and Private Retirement Scheme Consultant in 2023 and was a registered Consultant in previous years (since 2019).

How many CPD points do I need to obtain before I can renew my registration for 2024?

16 CPD points obtained in the same calendar year; i.e 2023.

b.

In July 2023, I registered with FIMM as Unit Trust Consultant and Private Retirement Scheme Consultant (new registration, never been a Consultant before).

How many CPD points do I need to obtain before I can renew my registration for 2024?

Prorate of CPD points: (number of month(s) joined / 12 months) X 16 CPD points

In this case, you need to obtain 8 CPD points in the same calendar year; i.e 2023.

c.

I’m currently a Consultant registered with Distributor A in January 2023 and would like to register with Distributor B in June 2023.

What would be the CPD points required before I can register with Distributor B?

This is a re-registration with a different Distributor within the same calendar year. As such, 16 CPD points are not required before you can be registered with Distributor B.

d.

I am a former Consultant registered with Distributor A in 2022 and acquired 10 CPD points with Distributor A in 2022. I resigned from Distributor A in October 2022 and would like to register with Distributor B in March 2023.

Can I transfer the 10 CPD points (accumulated in 2022) to Distributor B in 2023?

Yes, for re-registration with a different Distributor, you can use CPD points obtained during your registration with Distributor A in the previous year.

In this case, you need to get another 6 CPD points (to fulfill the 16 CPD points) before you can be registered with Distributor B in March 2023.

e.

I am a former Consultant registered with Distributor A in 2019 and resigned in 2021.

I would like to register with Distributor B in June 2023.

What would be the CPD points required?

Since the duration from the last resignation (active status) is less than 3 years, you are allowed to be registered again subject to meeting the requirement of obtaining 16 CPD points before you can be registered with Distributor B in June 2023.

In this case, you may utilise 16 CPD points obtained in 2022 or 2023 (where applicable) or combination of both.

f.

I am a former Consultant registered with Distributor A in 2015 and resigned in 2017.

I would like to register with Distributor B in June 2023.

What would be the CPD points required?

Since the duration from the last resignation (active status) is more than 3 years, you are required to re-sit and pass the CUTE and/or PRS examination in order to get yourself registered again as a Consultant.

g.

I am a former Consultant registered with Distributor A in March 2022 and have collected 12 CPD points in 2022. As at February 2023, I have collected 4 CPD points. In March 2023, I resigned from Distributor A and joined Distributor B in June 2023.

How many CPD points is needed for renewal at the end of 2023?

You are required to obtain 16 CPD points in 2023 to renew your registration. CPD points collected in previous years will not be used to renew your registration.

In this case, you have obtained 4 CPD points in 2023 as at February 2023. You need to obtain another 12 CPD points in 2023 for you to renew your registration at the end of 2023.

A Consultant may acquire CPD points by participating in one or more of the following activities:
Item Activities Max CPD
points allowed
Remarks
a. Attend programmes conducted by his/her Principal 16 1 CPD point is given for 1 hour of full attendance
b. Attend other programmes approved by FIMM for CPD Programme 16
c.

Write and publish:

(i)    a book;

(ii)   articles in a business/financial publications recognised by FIMM.

 

16*

8
(4 points
for each
article)

* Publication of one (1) book will be given 16 CPD points in one calendar year
d.

Read any 2 of the following financial literatures:

  • FIMM e-Zine published by FIMM;
  • Smart Investor published by Inovatif Media Asia Sdn Bhd;
  • Other publications or financial magazines approved by FIMM.*
4 CPD points will only be given to the Consultant upon his/her submission of completed self-assessment questionnaires with fully correct answers to his/her Principal.

*Including FIMM e-Zine

e. Teach or speak in programmes approved by FIMM 8 2 CPD points are given for 1 hour of teaching or speaking.
f. Obtain any one of the following academic or professional qualification: 16* *For completed academic or professional qualification.

Academic Qualification

  • PhD  (Majors: Finance & Business)
  • Masters (Majors: Finance & Business)
  • Basic Degree (Majors: Finance & Business)
  • Diploma in Corporate Governance issued by
  • Malaysian Institute of Corporate Governance
  • Graduate Diploma in Applied Finance & Investment issued by PNB Institute
  • Professional Qualification

Professional Qualification

  • Chartered  Financial Analystissued by CFA Institute
  • ChFC issued by Malaysian Association of Chartered Financial Consultant
  • Fixed Income Certificate issued by International Capital Market Association
  • RFP issued by Malaysian Financial Planning Council
  • Chartered Investment & Finance Practitioner issued by Asia Pacific Financial Services Association
g.

Pass any of the following modules conducted by FPAM:

  • Certified Financial Planning Modules 1, 2, 3 & 4
  • Islamic Financial Planner
    Modules 1, 2, 3 & 4
16 10 CPD points will be allocated to each of the following modules:
  • Certified Financial Planning Modules 1, 3 & 4;
  • Islamic Financial Planner
    Modules 1 & 3
5 CPD points will be allocated to each of the following modules:
  • Certified Financial Planning Module 2;
  • Islamic Financial Planner
    Modules 2 & 4
  • Ethics and professional conduct;
  • Regulations and guidelines, capital market products and operations, economics; and
  • Sales and marketing, advisory skills and personal development skills.
Programmes conducted by a Principal may be by way of classroom-based or e-learning.
Yes. Based on FIMM Consolidated Rules, a Principal must:
  1. maintain a register of CPD points acquired by its Consultants;
  2. verify acquisition of CPD points by Consultants;
  3. ensure its Consultants obtain the minimum CPD points before forwarding any application for registration or renewal of registration of its Consultants;
  4. submit to FIMM relevant documents such as application by Consultants on matters in Rule 7.5.1 to FIMM;
  5. maintain proper records in relation to CPD points; and
  6. produce to FIMM the relevant documentary evidence to support the Consultants attendance and completion of the CPD Programme activities.
A Consultant must submit an application through its Principal to seek FIMM’s approval to obtain CPD points for the following activities: A Consultant must submit an application through its Principal to seek FIMM’s approval to obtain CPD points for the following activities:
  1. Write and publish:
    1. a book on focus areas*; and
    2. articles on focus areas* in business or financial publications recognised by FIMM;
  2. Teach or speak in courses approved by FIMM; and
  3. Obtain any academic or professional qualifications or pass relevant training modules recognised by FIMM.
A Consultant shall only be given CPD points upon obtaining FIMM’s approval. * Focus areas refers to:
  • Ethics and professional conduct;
  • Regulations and guidelines, capital market products and operations, economics; and
  • Sales and marketing, advisory skills and personal development skills.
A Consultant may apply for a waiver from CPD requirements under the following circumstances:
  • Where he has a prolonged critical illness or disability that falls within the definition of critical illness defined by LIAM; and
  • Any other reason as may be determined by FIMM.
Any waiver granted by FIMM is subject to such terms and conditions as may be specified by FIMM.
You can refer to FIMM Consolidated Rules (FCR): Chapter 7 – CPD programme available at FIMM’s website (arrecifeshoy.com).

A copy of FCR is available at //꧂arrecifeshoy.com/index.php/regul🤪ations/fimm-consolidated-rules/

FIMM CPD Tracker System is an online system which facilitates the registration and approval of FIMM CPD programs. It also allows FIMM members and distributors to upload/update CPD Points collected by Consultants.
Yes, the CPE points awarded by the Securities Industry Development Corporation (SIDC) can be converted into CPD points. The conversion rate is as follows:

5 CPE points = 4 CPD points
10 CPE points = 8 CPD points

You will need to notify the training provider of any missing training information in the CPD Tracker System. Should the issue persist, you may lodge a report to FIMM CPD Secretariat at ali bet 99:[email protected].

Yes, but only if you are a NEW Consultant. If you are changing from one Distributor to another, your CPD points requirement will not be pro-rated. Your CPD points will be calculated on a pro-rata basis as follows:
[Number of month(s) joined / 12 months] x 16 CPD points
Yes, but only if the training provider is a FIMM approved CPD Training Provider.

General Registration Matters

You will need to follow up with your Distributor to ensure that your resignation status is updated accordingly.
You should choose a Distributor whose UTS/PRS products you want to distribute. Approach your chosen Distributor and they will help you with the re-registration process.
Yes, your registration can be transferred to another Distributor. To do so, you will need to resign from your current Distributor and then re-register with a new Distributor. There may be some pre-requisite CPD requirement when transferring to another Distributor. Please refer to the table below:  
  From Resignation Date Pre-requisite CPD Requirement
1 Within the calendar year. n/a
2 Cross calendar year but within three (3) years validity:

–       CPD requirement is fulfilled in the previous calendar year.

n/a

 

3 Cross calendar year but within three (3) years validity:

–       CPD requirement is not fulfilled in the previous calendar year

Must acquire 16 CPD points or retake and pass CUTE/CPRE Examination
4 Beyond three (3) years Must retake and pass CUTE/CPRE Examination
No, the SD Form submitted to FIMM must not be more than 12 months from the date of attestation by the Commissioner for Oaths. SD Forms are only required to be submitted once every two years upon renewal of registration.
You can update your address and change any of your personal details through your Distributor.

FIMM Digital Magazine (FIMM e-Zine)

Yes, FIMM e-Zine is free for everyone, especially for Unit Trust Schemes and
Private Retirement Schemes Consultants (“Consultants”) who want to obtain CPD
points.

Four (4) CPD points are available to Consultants who read FIMM e-Zine and
answ꧙er all five (5) questions in the questionnaire correctly.

Consultants must answer all five (5) questions correctly to be eligible to obtain the
four (4) CPD points for reading FIMM e-Zine.

Consultants can access the five (5) questions by clicking on the “claim your CPD
points” icon at the contents page and the last page of FIMM e-Zine.

Consultant must answer all five (5) questions correctly to be eligible for the four (4)
CPD points.

Yes, Consultants can answer all the questions again and re-submit the
questionnaire form.

If a Consultant got one answer wrong, he/she will not receive any CPD points. Still,
if a Consultant had indeed read FIMM e-Zine, he/she should be able to answer the
questions correctly

FIMM e-Zine is not only about FIMMAC 2019. There are other topics covered with
the aim of providing more information, knowledge and skill to all readers. If the
Consultant did indeed read FIMM e-Zine, he/she should be able to answer all five
(5) questions correctly.

The feedback questions are not a requirement to obtain the four (4) CPD points,
but they are r🌌equired to be answered in order to submi𒐪t the questionnaire form.

No, Consultants will not be notified. Nonetheless, Consultants can check their CPD
points at FIMM’s website in the “Is My Consultant Authorised?” page. FIMM will
update this record on weekly basis.

No, FIMM will not notify. However, Consultants can check their CPD points at
FIMM’s website in the “Is My Consultant Authorised?” page.

Consultant can check their CPD points at FIMM’s website in the “Is My Consultant
Authorised?” page.

FIMM will update the CPD records on weekly basis. Consultants can check their
CPD points at FIMM’s website in the “Is My Consultant Authorised?” page.

Yes, the Consultant still receive the four (4) CPD points as long as his/her NRIC
number is correct. However, the Consultant will still be required to key in his/her
correct information (including FIMM number) in the questionnaire form for our
records.

No. Consultants are required to key in the correct NRIC number in order to get the
CPD points. If the wrong NRIC number is keyed in, FIMM’s CPD Tracker System
will reject the incorrect NRIC number and the Consultant will not be able to obtain
the four (4) CPD points. This is the same practice as the other programs submitted
through FIMM’s CPD Tracker System.

Yes, Consultants can use the old FIMM number if they haven’t received their new
FIMM authorisation card as long as NRIC number is correct. However, the
Consultant must ensure the iꦅnformation is correct to avoid any issues.

Yes. The principal may request, via email, to the Professional Development
Services Department (PDS) to get the list of their Consultants who have obtained
the four (4) CPD points for reading FIMM e-Zine.

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