1 On 17th August 2020, IBF had suspended ClickAcademy Asia Pte Ltd, after they were found to be in breach of IBF’s Terms and Conditions as an accredited training provider. 

2 IBF conducts audits on training providers to ensure their compliance with the set Terms & Conditions. As the administrator of the training schemes, IBF has the responsibility to ensure that funding claims submitted by training providers are bona fide and accurate.

3 To ascertain this, IBF may request for evidence that trainees had attended the stated programmes and successfully passed the required assessments. If these cannot be satisfactorily verified, or irregularities are detected, IBF will reject and return the claims application to the training provider.

With reference to the latest Multi-Ministry Taskforce's announcement on the transition into Phase Two of post-Circuit Breaker from 19 June 2020, we would like to update you on the arrangements for Continuing Education and Training (CET) activities. This is aligned to SSG's Advisory to their Training Providers on Gradual Resumption of In-Person Continuing Education and Training (CET) Activities under Phase 2. This is for strict compliance by all Training Providers. 

2.   With effect from 21 June 2020, in-person training will be permitted for all IBF approved programmes, subject to IBF's approval. Notwithstanding this, online learning should remain the default delivery mode for all Training Providers wherever feasible.

Requirements for Online Training (Synchronous e-learning)

3.   Video recording. Training Providers were notified via IBF's advisory on 16 June 2020 to comply with the Guidelines on the Conduct of Programmes, including Virtual and E-Learning Programmes (Please see Annex A). For clarity, full recording of each synchronous online training session will be required and need to be retained for a period of 2 years after completion of the course. Training Providers need to also ensure that all trainees turn on their video cameras throughout the full training session for the purpose of the recording. (Please see Annex B on SSG's guidance on record-keeping requirements). 

4.  Maximum class size. With effect from 21 June 2020, Training Providers are required to comply with the requirement of maintaining a maximum class size of 40 persons for synchronous e-learning. This is to ensure appropriate instructor-participant as well as participant-content engagement for course quality reasons.

Conditions for In-Person Training

5.   Maximum class size. For health and safety reasons, the maximum class size for all in-person classroom trainings / conferences / seminar is capped at 40 persons (including the trainer(s)). All Training Providers must also put in place safe management measures, in line with the prevailing safe management measures for the workplace and/or training sites, stipulated by the Ministry of Manpower (MOM). 

6.  Conversion of approved e-learning courses back to in-person training. Training Providers who wish to convert their synchronous e-learning courses back to in-person training are to submit their request through the  IBF Portal . 

7.   We encourage Training Providers who have previously obtained approval to convert their courses to synchronou

We refer to  MAS' and  IBF’s announcements on 8 April 2020 on the launch of the support package for the financial and FinTech sectors to cover training in IBF-STS or FTS courses up to 31 December 2021. 

It has come to MAS’ and IBF’s attention that the conduct and marketing of training programmes under the Terms and Conditions for IBF Recognised Training Providers can be further clarified, in particular, given that more training is being shifted onto virtual or e-learning formats and with the adoption of the nett course fee model. In this regard, we have set out some guidelines below for your immediate attention and compliance.

Conduct of Programmes, including Virtual and E-Learning Programmes

For IBF-STS Providers
To be read in conjunction with the T&Cs for IBF Accredited Provider:
Clause 5.4 - The Accredited Provider shall be responsible to maintain an adequate system for the administering and conducting of accredited programme, including but not limited to ensuring that the participant has passed the necessary regulatory / industry examinations (where relevant) before the issuance of a Certificate of Completion.

For FTS Providers
To be read in conjunction with the T&Cs for IBF FTS/Core CPD Provider:
B12 - The Provider shall maintain an adequate system of administering and conducting training.

1. For virtual or e-learning, training providers must ensure that they have a formalised process and system to track participant’s attendance, which should include the following:

1.1 A system to authenticate participants’ identities;

1.2 ​A monitoring system to track participants’ attendance for the entire duration of each training session;

1.3 ​Trainer/instructor support for participants who need further clarification or assistance; 

​1.4 Technical helpdesk support;

​1.5 ​Attendance records capturing the following details for synchronous online training e.g. conducted through virtual meeting application

- Course title

- Time and date records of training delivery

- ​Time and date records of the presence of participants corresponding to the training sessions

- Time-stamped photographs/ snapshots of the online classrooms showing participants attending the training sessions at regular intervals 

- Participant’s name and last 3 digits and letter of NRIC

- Participant’s email address (if an email is used to register on the synchronous online training platform)

​1.6 Retention of full recording of each online session for IBF’s audit when required.

2.   Training providers that convert existing classroom training to virtual or e-learning formats should also review the course fee charged for their programmes, to ensure that fees remain fair and appropriate. In assessing this, training providers should consider:

2.1 Whether the course fees reflect the

- Optimal class size based on the virtual learning methodologies; 

- Actual cost of the training being provided;

- Market pricing for training of similar topics, duration and training methodologies.

2.2 Whether the course fee has excluded, where possible, costs related to application/software subscription fees and materials that are optional/non-critical to a course. 

3.    Enrolment and Class Size

3.1  You must ensure enrolment of participants with the right profile intended for your course. This may include indicating clearly the course entry requirements and providing proper screening of the course applicants.

​3.2 You should develop strategies to ensure optimal number[1] of participants in an online class to create purposeful instructor-participant as well as participant-content engagement.

Marketing of IBF-Recognised Programmes 

For IBF-STS Providers

To be read in conjunction with the T&Cs for IBF Accredited Provider: 

Clause 5.1 - The Accredited Provider shall make accurate representation of its accredited programme in all marketing and communications, and 

Clause 5.2 - The Accredited Provider shall ensure that staff employed to conduct accredited programme have the requisite qualification and are competent for their roles, and

Clause 18 - Use of IBF Branding

For FTS Providers

To be read in conjunction with the T&Cs for IBF FTS/Core CPD Provider:

C2 - The Provider shall make accurate representation of the programme (including programme title, fees, duration, target audience, training purpose, programme structure, trainer(s) qualification, etc.), and funding level for FTS training in its marketing or any other communication materials.

4.   Training providers are reminded to market your programmes responsibly. Specifically,

​4.1 You must not convey the impression to the public that the IBF Enhanced Course Fees Subsidies (ECS) or Training Allowance Grant (TAG) is limited to you or your courses only. 

​4.2 You must not use ‘IBF or MAS Approved’ in the course of marketing your courses. You can use the terms ‘IBF Accredited” or ‘FTS recognised’, where applicable

4.3​ ​You must not market the approved courses as ‘free’ or ‘paid by the MAS or IBF’. 

​4.4 ​You are not allowed to use rewards such as referral awards, lucky draws, gifts and vouchers or equivalent, as a way of incentivising the public to sign up for the courses. ECS and TAG are non-transferrable.

​4.5 ​You are not allowed to use the TAG as an inducement for the public to sign up for your courses as this may not be in line with the inpidual’s training needs. 

​4.6 You must not request for confidential details such as SingPass or emails’ login passwords from your participants and perform any transactions or claims using the course participants’ login credentials. 

​4.7 You have to make clear to applicants to your courses that ECS and TAG will be awarded only when they have fully attended the programmes and passed the necessary examinations, if required.  

​4.8 ​You shall ensure that all your staff and licensees, sub-contractors and representatives appointed to perform the obligations set out in the IBF Terms and Conditions and guidelines have the requisite qualifications and are competent for their roles.

​4.9 For any engagement of third-party agents in your marketing effort, you will remain accountable and responsible to ensure compliance of such third-party agents to all IBF Terms and Conditions and guidelines, and for all acts and omissions of such third-party.

4.10 For staff or other third parties authorised by you to perform transactions on IBF Portal on your behalf. You shall be solely liable for all such transactions performed by such inpiduals and for keeping IBF informed of any changes to your staff or third parties so authorised by you.

5.   Disclosure of Course Fees and Invoicing Requirements

5.1 You must set and publish in a prominent place on its website the fees payable for each course and the course fees subsidies

5.2 ​Prior to the commencement of training, you must supply each eligible inpidual with an invoice. The invoice must provide eligible inpiduals with key information (including but not limited to):

- The programme code, title and commencement date of the training course in which the eligible inpidual has enrolled, as published on the IBF Programme Finder;

- The course fees with clear indication of the GST amount, if applicable and how the course fees are offset in part using the IBF Enhanced Course Fees subsidies (where applicable). 

IBF seeks the support and co-operation of our training providers in our effort to upskill our workforce. The ECS and TAG are meant to help our workers invest in upskilling, in particular for those impacted by the COVID-19 situation. IBF takes a serious view of any inpidual, training provider or organisation that abuses IBF Funding Schemes and will not hesitate to act against any who contravene the terms and conditions of programme accreditation/recognition and course fees funding.

6.   For any clarification, please contact IBF at:

• ​[email protected] (accredited programme under the IBF Standards Training Scheme) 
• [email protected] (recognised programme under the Financial Training Scheme or Core FAA/SFA CPD)