2019 New Version of Study Guide
Starting from September 2019, an enhanced Study Guide (2019 Version) will be used for training and examination. The CPWP M2 – Ethics and Compliance Study Guide is updated periodically or when deemed necessary to reflect changes in applicable laws, rules, regulations, codes and market practices in Hong Kong.
For enquiries, please contact our staff at 2153 7800.
The Enhanced Competency Framework (ECF) was developed by a Task Force chaired by the Hong Kong Monetary Authority to ensure individuals engaged in providing services to private wealth management (PWM) clients have an enhanced level competency in the technical, industry, product knowledge, ethics and compliance areas.
Coordinated with the Private Wealth Management Association (PWMA), HKIB will be the sole provider of the Module 2 training programmes and examinations in Hong Kong.
Objectives
- To demonstrate an adequate understanding and practical application of legal and regulatory requirements, and ethics relevant for practitioners, and
- To demonstrate a broad-based view of risk governance, risk culture and risk management, and an understanding of the wider implications and long-term impact of own actions on various stakeholders.
Target Audience
New entrants and existing PWM industry practitioners engaged by PWM institutions who are involved in customer-facing roles making personalized or customized solicitations or recommendations to customers in the provision of securities dealing and advisory service and/or portfolio management service.
Programme Outline
| Subject |
Training Hours |
Part A E1: Legal and Regulatory Regime in Hong Kong
- Banking Ordinance
- Mortgage Lending
- Securities and Futures Ordinance (SFO)
- Deposit Protection Schemes (DPS)
- Ordinance and DPS Representation Rules
|
1 |
Part A E2: Regulatory Requirements on Sale of Investment Products
- The Product Life Cycle: Pre-Sale, Sale and Post Sale
- Requirements for Licensed Corporations and Authorized Institutions
- Additional Investor Protection Measures for Authorized Institutions
|
2.5 |
Part A E3: Other Relevant Laws and Regulations
- Core Compliance Knowledge for Private Wealth Management Practitioners
- Suitcase Banking§
- On-Boarding a Customer
- Managing the Customer Relationship
|
2.5 |
Part B E4: Ethical Standards Set by the PWMA
- General Principles
- • Risk Management and Client Complaints
|
1 |
Part B E5: Fiduciary Duties, Ethical Values and Professional Conduct
- Understand Issues which Appear to Compromise Professional, Legal or Ethical Standards
- Put Professional Interests ahead of Personal Agenda, Avoid and Manage Conflicts of Interest
|
1 |
Part B E6: Practical Application of Legal and Regulatory Requirements
- Case Studies (Focus on practical application of and compliance with the HKMA's and the SFC's regulatory requirements in PWM context)
|
1 |
Part B E7: Controls and Accountabilities: Reporting and Escalation Policies
- Controls and Accountabilities
- Reporting and Escalation Policies
|
1 |
Part B E8: Risk Management, Risk Governance and Risk Culture of PWM Institutions
- Relevance of Risk Governance and Culture to a Practitioner's Business Conduct
- Impact and Responsibilities of a Practitioner's Actions to Customers,the Institution and other Stakeholders
- Setting and Monitoring of Remuneration System that Aligns with Risk Management Objectives of the Institution
- Ensure Personal and Team Compliance
|
2 |
| Total hours |
12 |
Training Outline
The Certified Private Wealth Professional (CPWP) Module 2 Refresher Programme Series helps candidates to review and refresh knowledge covered in CPWP Module 2 Examination syllabus. This series consists of 4 sessions. Candidates have the flexibility to select the topics based on their learning needs. We highly recommend candidates to enroll this series for better preparation for CPWP Module 2 Examination.
This programme has been included in the list of reimbursable courses for WAM pilot programme. For WAM pilot programme applicants, 80% of the course fee will be reimbursed upon meeting the 80% attendance requirement effective from 1 October 2016. For more details, please visit: www.wamtalent.org.hk
| Subject |
Tuition Hours |
| Regulatory Regime in Hong Kong and Requirements on Sale of Investment Products (Exam Syllabus of Topic 1 and 2) |
3 |
| Relevant Laws and Regulations Relating to Client Engagement and Relationship Building (Exam Syllabus of Topic 3) |
3 |
| Ethics and Practical Application of Legal and Regulatory Requirements for Private Banking (Exam Syllabus of Topic 4 to 6) |
3 |
| Risk Management, Risk Governance and Risk Culture of Private Wealth Management Institutions (Exam Syllabus of Topic 7 and 8) |
3 |
| Total hours |
12 |
Examination Structure
| Examination |
Format |
Pass Mark |
Duration (hour) |
| CPWP Module 2: Ethics and Compliance |
Multiple Choice Questions |
70 |
1 |
For more details about the Training and Examination Schedule on Enhanced Competency Framework (ECF) CPWP Module 2, please click here.
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