Important terms and information

This website is operated by and on behalf of Macquarie Group Limited and its related bodies corporate (Macquarie Group).

The information on this website is not an offer or solicitation for the purchase of securities, units or investments, unless expressly stated otherwise.

All applications for credit or lending products are subject to Macquarie Group’s standard credit approval criteria and/or product provider criteria.

All securities and financial product or instrument transactions involve risks. Past performance of any product described on this site is not a reliable indication of future performance. This website may contain forward-looking statements, forecasts, estimates and projections. No member of the Macquarie Group represents or warrants that such forward statements will be achieved or will prove to be correct. Actual future results and operations could vary materially from them.

Macquarie Group makes no representation or warranty as to the accuracy, completeness, timeliness or reliability of the contents of this website, and other than as required under consumer protection law, Macquarie Group accepts no responsibility for errors or misstatements, negligent or otherwise and under no circumstances will Macquarie Group be liable for any loss or damage whatsoever caused by a user's reliance on information obtained from this website, including from use of tools and calculators.

Macquarie Group accepts no obligation to correct or update the information or opinions on this website. The information on this website may be based on assumptions or market conditions and may change without notice.

Before acting on any information or advice on this website, you should consider the appropriateness of it (and any relevant product) having regard to your objectives, financial situation or needs and, if a current offer document is available, read the offer document before acquiring products named on this website. Macquarie recommends you make direct contact with Macquarie Group staff before acting on material on this website. You should also seek independent financial, legal and taxation advice prior to acquiring any security or other financial, credit or lending product.

Macquarie Group specifically disclaims any liability (whether based in contract, tort, strict liability or otherwise) for any direct, indirect, incidental or consequential damages arising out of or in any way connected with the access to or use of this website.

The Macquarie Group may have interests in the securities and other financial, credit or lending products referred to in this website, including being or appointing directors of their issuers or related companies, or may have or may in the future act in various roles including as underwriter, dealer, broker, lender or financial advisor to their issuers and may, where permitted by law, receive fees, brokerage or commission for acting in those capacities. Further, the Macquarie Group may act as a market maker or buy or sell those securities and other products as principal or agent.

 

Jurisdictions

Many of the products and services offered by members of the Macquarie Group are country or jurisdiction specific. Accessing any product or service via this website is not an offer, inducement or invitation to purchase those products or services.

Macquarie Group only carries on banking activities in those countries it is authorised to do so. Macquarie Bank Limited and its branches (MBL) is authorised and regulated by the Australian Prudential Regulation Authority (APRA) to carry out banking business in Australia. MBL, acting through its Singapore Branch, is authorised and regulated by the Monetary Authority of Singapore to carry out banking business in Singapore. MBL, acting through its Hong Kong branch, is authorised and regulated by the Hong Kong Monetary Authority to carry on banking business in Hong Kong. MBL London Branch is authorised by the Prudential Regulation Authority and subject to regulation by the Financial Conduct Authority and limited regulation by the Prudential Regulation Authority. Details about the extent of our regulation by the Prudential Regulation Authority are available from us on request. Macquarie Bank International Limited (MBIL) is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. Both MBL London Branch and MBIL are authorised to carry out banking business in the United Kingdom. No member of the Macquarie Group of companies is registered as a bank in New Zealand under the Reserve Bank of New Zealand Act 1989.

Macquarie Bank Limited maintains Representative Offices in the states of Illinois, New York and Texas, but is not authorised to conduct business in the US.

Macquarie Investment Management (MIM), a member of Macquarie Group, refers to the companies comprising the asset management division of Macquarie Group, including registered investment adviser Macquarie Investment Management Business Trust (MIMBT) and its series. Macquarie Group refers to Macquarie Group Limited and its subsidiaries and affiliates worldwide.

Software applications accessible from this site

Some of the software programs that may be downloaded via links from this site are products belonging to third parties. You use such third party software at your own risk. Such software is likely to be subject to licensing terms imposed by the owner of the software.

To the full extent permitted by law, Macquarie Group excludes all liability in relation to using or downloading any software (third party or otherwise) that may be accessed from this site. Macquarie Group makes no representations and provides no warranties in relation to such software. In particular, to the full extent permitted by law, Macquarie Group excludes all liability for any damage (including, without limitation, loss of data, interruption to business and loss of profits) resulting from viruses or any other consequence of using or downloading any software (third party or otherwise) accessible via this site.

Accessibility Statement

Reflecting Macquarie Group's ongoing commitment to diversity, equity and inclusion (DEI), we are taking action to enhance the inclusiveness of the digital experiences we provide to our people and our clients, by conforming our websites, applications and portals over time to the design requirements recommended under the Web Content Accessibility Guidelines (WCAG) 2.1, Level AA.

 

Accessibility options

If you are deaf, hard of hearing, or find it difficult speaking on the phone, you can reach us through the following options:

Live Chat

Live chat is a real-time, two-way communication channel, that allows you to connect with one of our consultants quickly and conveniently, without the need to call.

Visit How to use live chat for more information.

 

National Relay Service (NRS)

The NRS is an Australia-wide government initiative which offers relay call options.

Visit the National Relay Service website to find out more.

You will also need to provide the NRS with the relevant Macquarie phone number for the NRS to connect you through to. You can find this by visiting our Contact Us page.

 

Privacy

Macquarie Group is committed to providing the highest quality of financial services within a trusted environment. Please read the Macquarie Group Privacy Policy to understand how your personal information will be treated by Macquarie Group.

Fraud

Macquarie Group is committed to providing the highest quality of financial services within a trusted environment. Please read the fraudulent email statement for more information.

Expertise Articles Terms of Use


Please note that use of content from the various commentaries, reports and articles available on this web page (“Articles”) are subject to these Terms.

Macquarie Group Limited is the owner or licensed user of the Articles available from this webpage.

The following conditions apply to your use of the Articles:

  1. You acknowledge that you are a licensed and accredited broker or financial adviser.
  2. If you choose to distribute these Articles you must reproduce the content in the Articles in full. For the avoidance of doubt, you must not reproduce extracts of the Articles but you are permitted to display hyperlinks to the Articles where you broadcast the Articles online.
  3. You must attribute the Article as coming from Macquarie Group Limited. 
  4. You acknowledge that Macquarie Group accepts no obligation to correct or update the information or opinions expressed in the Articles. The information in the Articles may be based on certain assumptions or market conditions and may change without notice.
  5. You acknowledge that Macquarie Group specifically disclaims any liability (whether based in contract, tort, strict liability or otherwise) for any direct, indirect, incidental or consequential damages arising out of or in any way connected with the access to or use of the Articles.

By using any of the Articles, you accept these Terms and agree to be legally bound by them.

Design and Distribution Obligations

We've created a hub so you can stay up-to-date with the Design and Distribution Obligations and view our Target Market Determinations. Please visit the hub for more information.

Continuing Professional Development (CPD) Policy

Scope

This policy applies to Macquarie Equities Limited (‘MEL’) and the Private Bank (a division of Macquarie Bank Limited (‘MBL’)), in compliance with the Corporations (Relevant Providers Continuing Professional Development Standard) Determination 2018. Specifically, this policy applies to all employees who are:

  • authorised by MBL to provide personal advice to retail clients under the MBL AFSL 237502;
  • authorised by MEL to provide personal advice to retail clients under the MEL AFSL 237504.

Hereafter referred to as ‘relevant providers’.  Where the term 'Licensee’ is used in this document, it refers to either or both MBL and MEL, as appropriate.


Purpose

Continuing Professional Development (‘CPD’) is an essential requirement for maintaining accreditation and embraces a culture of lifelong learning. In particular, CPD:

  • maintains currency of technical knowledge
  • enhances and extends knowledge and skills
  • involves critical reflection and development
  • is relevant and flexible
  • is integral to ethical and professional practice.

This policy embeds a CPD framework to ensure compliance with:

  • the Corporations Act 2001; and
  • the Corporations (Relevant Providers Continuing Professional Development Standard) Determination 2018 (‘CPD Determination’)


CPD Year

For the purpose of this policy, a ‘CPD Year’ is the 12 month period from 1 July to 30 June (inclusive) each year.


Overall approach

Each relevant provider will be allocated an approved CPD plan at the commencement of a new CPD Year or when their CPD requirements commence. CPD plans and any other specific requirements that the relevant provider is required to achieve must be recorded in the Kaplan Professional Ontrack platform.

Each relevant provider, unless otherwise excepted, must ensure they undertake a minimum of 40 hours of approved CPD activities in total per CPD Year, consisting of at least:

  • 5 hours for technical competence;
  • 5 hours for client care and practice;
  • 5 hours for regulatory compliance and consumer protection; and
  • 9 hours for professionalism and ethics.

PLUS

  • 5 hours of tax specific training for relevant providers who are authorised to provide tax financial advice.

The attribution of the remaining hours will be based on a relevant provider’s individual development needs.


Part time employees

In special circumstances where employees work part-time for the whole of the CPD year, their minimum hours may be reduced to 36 hours, with prior written consent of the Licensee. This is considered on a case-by-case basis.


Career breaks

Where relevant providers take a career break for a continuous period of 2 year or more, a CPD plan for the CPD year must be established and approved by the Licensee prior to resuming practice as a representative. Appropriate CPD activities must be undertaken to ensure the relevant provider is upskilled with the latest regulatory and licensee requirements


Transferring relevant providers

Relevant providers that transfer from another licensee during a CPD year must meet the CPD requirements for the full CPD Year.

For activities undertaken outside Kaplan, details must be loaded into the Kaplan Professional Ontrack platform, with evidence submitted for assessment.

The Licensee will also request evidence that CPD requirements have been met in the previous 2 years. If this is not possible or available, additional appropriate CPD may be added to the CPD plan, to ensure relevant providers are up to date with the latest regulatory and licensee requirements.


Extenuating circumstances

Those impacted by illness, medical conditions, disability or parental leave must liaise with the Licensee, who will determine a remedial CPD plan on a case-by-case basis.

Where an individual’s leave of absence is 3 months or more during a CPD Year, generally their authorisation will be suspended, and a new CPD plan will be commenced on their return to work, as if they have taken a career break (outlined above).


Professional Year candidates

Provisional relevant providers who are completing their Professional Year are not required to meet CPD requirements outlined in this policy.

However, CPD requirements will apply once the Professional Year is completed. Given the extent of training undertaken during the Professional Year, CPD hours for the period between a relevant provider’s completion of the Professional Year and the end of the CPD Year may be pro-rated, and will be considered on a case-by-case basis.


CPD Plan assessment and approval

CPD plans will include the minimum CPD hours and the minimum areas of competency. It will also consider the relevant provider’s individual training needs and identify areas for improvement in, and development and extension of, their competence, knowledge and skills.


CPD Plan implementation monitoring

CPD plans will be loaded into the Kaplan Professional Ontrack system for implementation and monitoring.

The Licensee will use the Kaplan Professional Ontrack system to monitor CPD plans on a quarterly basis, and to verify that each relevant provider has fulfilled their CPD requirements.


Assessment and approval of CPD activities  

Relevant providers can use a variety of channels to satisfy CPD requirements, provided the course is relevant to the providers accreditations and/or activities as a representative. These include:

  • online learning, including courses offered by external providers (e.g. Kaplan) and those developed internally;
  • workshops and seminars;
  • self-directed study; and
  • internal or external PD Days / conferences
  • At least 70% of the qualifying activities must be approved by the Licensee.

Activities completed through Kaplan are Licensee approved CPD activities and do not require additional assessment or approval.

For activities undertaken outside Kaplan, relevant providers are responsible for uploading details into the Ontrack platform and submitting evidence for assessment. The Licensee will assess the proposed activity to determine whether it is a qualifying CPD activity as defined in Section 7 of the CPD Determination. After assessment, the Licensee will notify the adviser if the proposed activity is approved, and if so, the relevant CPD area and hours. The Licensee may allocate a different number of CPD hours to external events, despite the CPD hours dictated by the external provider.

If a CPD activity meets the requirements of more than 1 CPD area, it must only count towards the CPD area to which it predominately relates, to ensure there is no double counting.

The approved CPD activities must not include any more than 30 hours of ‘formal relevant education’ provided by an education provider, which may include;

  1. a degree, equivalent qualification or course approved under the Corporations (Advisers Degrees, Qualifications and Courses Standard) Determination 2018;
  2. education or training provided or approved by a professional association;
  3. formal education or training study towards qualifications or designations relevant to practice as an adviser.

The approved CPD activities must not include any more than 4 hours of professional reading.


Compliance with CPD Policy and CPD Determination

Relevant providers must comply with the CPD obligations specified in this Policy. Failure to meet the specified requirements will result in mandatory reporting to ASIC of non-compliance with the CPD standard as outlined in the Corporations Act.


Record keeping

All CPD activities must be recorded through the Kaplan Professional Ontrack platform. This will capture:

  • total number of training hours completed, and;
  • details of training completed, and;
  • category or classification of training, and;
  • date training completed, and;
  • number of training sessions and hours per session, and;
  • all reflections completed.

Completion of approved CPD activities outside of Kaplan must be manually loaded into Kaplan by the relevant provider, including evidence of completion and will be assessed by the Licensee for approval.

CPD records must be maintained for at least 7 years.

Additional information

This information is a general description of the Macquarie Group only. Before acting on any information, you should consider the appropriateness of it having regard to your particular objectives, financial situation and needs and seek advice. No information set out above constitutes advice, an advertisement, an invitation, a confirmation, an offer or a solicitation, to buy or sell any security or other financial, credit or lending product or to engage in any investment activity, or an offer of any banking or financial service. Some products and/or services mentioned on this website may not be suitable for you and may not be available in all jurisdictions. All securities and financial products or instrument transactions involve risks. Past performance of any product described on this site is not a reliable indication of future performance.