March 2025
To encourage compliance with continuing professional development (“CPD”) hours across the insurance market, after each CPD Assessment Period, the IA will publish the CPD Non-Compliance League, in order to ‘name and shame’ those market participants with the largest number of appointed licensed individual intermediaries who failed to complete their CPD requirements.
At the risk of repeating ourselves, completing CPD hours to keep one’s knowledge up to date is the most basic requirement for any profession. If an insurance intermediary fails to complete their CPD hours, their fitness and properness is put into immediate question.
For Assessment Period 2021/2022, we included 10 principals in the CPD Non-Compliance League Table. For Assessment Period 2022/2023, that number was reduced to 5 principals.
Like a well-oiled machine, the IA’s Conduct Supervision Division went into action to prepare the CPD Non-Compliance League Table for the Assessment Period 2023/2024. Here’s how the conversation went in the Conduct Supervision Division:
Acting Head : “Can you give me the CPD Non-Compliance League Table for the Assessment Period 2023/2024 please?”
Manager : “Here you are.”.
Acting Head : “Er…..this is a blank spreadsheet.”
Manager : “Yes, there was 99.9% compliance with CPD hours across the market this year.”
Acting Head : “What? As in….”
Manager : “99.9% compliance. As in 0.1% short of 100%. You could actually call it 100% if you like as many of these non-compliant licensees have subsequently given up their licences voluntarily.”
Acting Head : “So what do we publish in Conduct in Focus?”
Manager : “Er…a blank table?”
Yup! Turns out the CPD Non-Compliance League has been so successful, we have a 99.9% compliance rate this year. That means we have no names to put in our Non-Compliance League Table.
To adopt GenZ slang, our message to the market is this: “Slay!” (Translation for non GenZs: You smashed it! Any policyholder who deals with an individual licensee in the Hong Kong insurance market can trust that the individual’s insurance knowledge is up to date).
Great job guys! Keep it that way to stop us from publishing the Non-Compliance League Table going forward!