Course Accreditation (IBF-STS, FTS, FAA) CPD

How long will IBF take to review the organisation eligibility application?

IBF will take approximately approximately six to eight weeks from date of submission to process your organisation eligibility application, upon receipt of complete and accurate documentation. Longer processing time may be required in certain cases (e.g. incomplete or inaccurate submissions).

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How long does IBF take to recognise course under the Financial Training Scheme (FTS)?

IBF will take approximately approximately six to eight weeks from date of submission to process your course application, upon receipt of complete and accurate submission. Longer processing time may be required in certain cases (e.g. incomplete or inaccurate submissions, long response time from applicants).

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How long does IBF take to accredit course for Core Financial Advisers Act (FAA) / Securities & Futures Act (SFA) CPD?

IBF will take approximately approximately six to eight weeks from date of submission to process your course application, upon receipt of complete and accurate submission. Longer processing time may be required in certain cases (e.g. incomplete or inaccurate submissions, long response time from applicants).

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Is e-learning course accepted for Core Financial Advisers Act (FAA) / Securities & Futures Act (SFA) CPD course?

Yes, e-learning course is eligible for accreditation under Core FAA/SFA if the course duration is at least 30 minutes and comprise of an assessment component. Training provider will need to ensure that the following measures are in place (...)

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Can a Core Financial Advisers Act (FAA) / Securities & Futures Act (SFA) CPD course be concurrently recognised under the IBF Standards Training Scheme (IBF-STS) or Financial Training Scheme (FTS)?

Core FAA/SFA CPD only courses are not eligible for course fee subsidy. Please apply for FTS + Core FAA/SFA or IBF-STS + Core FAA/SFA if you intend for course to be eligible for course fee subsidy.

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How is Core Financial Advisers Act (FAA) / Securities & Futures Act (SFA) CPD hours accorded for an accredited course?

Core FAA/SFA CPD hours are accorded in multiples of 0.5 hour. For example, if your accredited course duration is 45 minutes, the Core FAA/SFA CPD hour that will be accorded will be 30 minutes.

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If my course has been accredited by Infocomm Media Development Authority (IMDA) or SkillsFuture Singapore (SSG), can I concurrently seek accreditation under the IBF Standards Training Scheme?

For such courses to be accredited under the IBF-STS, please ensure that the course has been enhanced and is contextualised to be relevant to the financial services industry. There should be clear differentiation in terms of content and programme name for accreditation under the IBF-STS.

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What are the documents to be submitted as part of course recognition under Financial Training Scheme (FTS)?

You are required to submit supporting documents such as course outline, training and assessment (if applicable) materials, CVs of course developers and trainers. You may view the application requirements in the IBF portal.

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Do I need to pay for application fee to apply for course recognition under Financial Training Scheme (FTS)?

Yes, non-refundable application fees of $200 (before GST) is applicable for course recognition under FTS (...)

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Is e-learning course accepted for recognition under Financial Training Scheme (FTS)?

Yes, e-learning course is eligible for recognition under the FTS if the course duration is at least 30 minutes and comprise of an assessment component. Training provider will need to ensure that the following measures are in place (...)

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What is Core Financial Advisers Act (FAA) / Securities & Futures Act (SFA) CPD accreditation?

Appointed FAA/SFA representatives are expected to undergo continuing education to keep abreast of developments in the financial advisory industry and update their skills and knowledge in relation to the type of financial advisory services they provide (...)

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What are the documents to be submitted for accreditation as a Core Financial Advisers Act (FAA) / Securities & Futures Act (SFA) CPD course?

You are required to submit supporting documents such as course outline, training and assessment materials, CVs of course developers and trainers. You may view the application requirements in the IBF portal.

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What are the documents to be submitted as part of course accreditation under IBF Standards Training Scheme?

You are required to submit supporting documents such as course outline, training and assessment plan, training and assessment materials, CVs of content developers/trainers/assessor and validation record by independent panel/subject matter experts, course fee justification. You may view the application requirements in the IBF portal.

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Do I need to pay for application fee to apply for course accreditation under IBF Standards Training Scheme (IBF-STS)?

Yes, non-refundable application fees for course accreditation under IBF Standards Training Scheme are as follow (...)

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Is there any other fee that is payable?

The Accredited Provider shall be required to pay an annual fee based on total course enrolment for the previous year. Payable fee as outlined in table (...)

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What is the course accreditation validity period for recognition under IBF Standards Training Scheme (IBF-STS)?

Courses accredited under IBF-STS are valid for a period of 5 years (except for Future-Enabled Skills which will be valid for 2 years)

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How long does IBF take to accredit courses under IBF Standards Training Scheme (IBF-STS)?

IBF will take approximately 2 months from date of submission to process your course application, upon receipt of complete and accurate submission. Longer processing time may be required in certain cases (e.g. incomplete or inaccurate submissions, long response time from applicant, substantial non-fulfilment of content to skills standards).

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Are e-learning courses accepted for accreditation under IBF Standards Training Scheme (IBF-STS)?

Yes, e-learning courses are accepted. Training provider will need to ensure that the following measures are in place (...)

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How many skills does a course need to address to be eligible for accreditation under IBF Standards Training Scheme?

The course to be submitted for accreditation under IBF Standards Training Scheme must be aligned to at least one (1) Technical Skills & Competencies (TSC) or Generic Skills & Competencies (GSC).

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Is there a requirement on the course duration and number of assessment questions to be eligible for accreditation under IBF Standards Training Scheme?

There is no prescribed duration or number of questions to be addressed in the assessment course. The course duration and the assessment questions should adequately address the depth & breadth of the abilities listed in the Technical Skill and Competency / Generic Skill and Competency document.

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What is the difference between Technical Skills & Competencies (TSC) and Generic Skills & Competencies (GSC)?

TSCs comprise occupation/ job-specific knowledge, skills and abilities that a person needs to have to perform the various tasks required in his/her job role whilst GSCs comprises broad skills that are applicable across all job roles.

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Do I need to seek approval from IBF for any material changes made to the IBF accredited course?

Yes, accredited provider needs to inform IBF via the IBF portal of any changes in its management, organisational structure and accredited course details, including but not limited to the following (...)

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What is the application fee to apply for Organisation Eligibility application?

Organisation Eligibility application fee for course recognition under IBF Standards Training Scheme and Financial Training Scheme is waived.

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As an IBF approved training provider, can I decide on the fee charging model of my IBF Standards Training Scheme ("IBF-STS") or Financial Training Scheme (“FTS”) courses?

All IBF recognised courses (except for assessment only qualification programme and conference) should be on a nett fee model. For training provider who might not be able to immediately charge nett fee on their course, please write to IBF separately.

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What is the Skills Framework for Financial Services?

The Skills Framework for Financial Services (SFw for FS) provides key information on sector, career pathways, occupations/job roles, as well as existing and emerging skills required for 157 financial services job roles. The SFw for FS covers a total of 121 technical skills & competencies and 18 generic skills & competencies.

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What are Future-Enabled Skills?

Future-Enabled Skills is a suite of horizontal capabilities that are important for finance practitioners. These skills will complement existing functional and technical skills required across various job functions (...)

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What are the IBF Standards Training Scheme and Financial Training Scheme?

The IBF Standards Training Scheme ("IBF-STS") provides course fee subsidies to eligible company-sponsored individuals and self-sponsored individuals who complete training and assessment courses accredited under the Skills Framework for Financial Services. The Financial Training Scheme ("FTS") provides course fee subsidies to eligible company-sponsored individuals who complete financial sector-specific training courses recognized under FTS.

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What are the benefits for applying for IBF accreditation under IBF Standards Training Scheme ("IBF-STS") and Financial Training Scheme ("FTS")?

IBF accredited courses under the IBF-STS are subjected to an independent review by the IBF to ensure that the training institution and courses meet industry standards. IBF accreditation therefore serves as an industry-endorsed mark of quality for training providers looking to offer courses to Singapore's financial industry (...)

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What are the types of companies that are eligible to apply for course recognition under the IBF Standards Training Scheme ("IBF-STS") or Financial Training Scheme ("FTS")?

Eligible companies must be (i) Singapore-based financial institutions regulated by MAS (licensed or exempt by MAS), (ii) Institutes of Higher Learning (IHLs), (iii) FinTech firms certified by the Singapore FinTech Association (SFA) or (iv) Financial Training Providers (...)

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Is there a validity period for IBF organisation eligibility?

There is no renewal required for IBF Organisation Eligibility. On an ongoing basis, IBF will monitor the IBF approved training providers’ course delivery quality and fulfilment of the terms & condition. For providers accredited under IBF Standards Training Scheme, bi-annual continuous improvement review will be conducted.‍

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My company is exempted from filing audited financial statements under ACRA. Will my unaudited statement be accepted for IBF-STS or FTS Organisation Eligibility application?

IBF accepts unaudited financial statements only if your company is exempted from audit under ACRA. The full set of management accounts will be required to be submitted to IBF at point of Organisation Eligibility application (...)

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