Secondary

Tag Archives | Regulatory exams

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RE Deadline for Local and Foreign FSPs

Candidates are required to successfully complete the applicable level 1 Regulatory Exam by 30 June after expiry of 24 months from the date of first appointment as representative. In practical terms, this means that those appointed between 1 January 2014 and 30 June 2014 will be required to complete the RE 5 before 30 June 2016. Please do not delay writing until the last […]

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Mental conditioning

An important part of your preparation for writing the regulatory examinations concerns your mental approach. I came across an interview in Moneyweb with Paddy Upton, who plays an important role in the preparation of our very successful national cricket side. His thinking applies equally to those facing the challenge of writing the regulatory examinations: Mental […]

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RE Preparation Material

LexisNexis announced the availability of the third edition of its Legislation Handbook and Preparation Guide for the level 1 FAIS regulatory examination – RE1 and RE5. This book reflects the law as at 10 April 2014 and incorporates amendments contained in the Financial Services Laws General Amendment Act 45 of 2013. The Legislation Handbook, together […]

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Exam Tips for the REs

We spend countless hours talking to candidates about their experiences of the regulatory exams. The moods range from utter depression to exultation. From this feedback, we drew up a list of items which may help you approach the examinations with more confidence, particularly if it is your first attempt. The authoritive guide remains the FSB’s […]

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Important Qualification Requirements

The regulatory examinations took precedence for most people in the industry, and may have averted the focus from the qualification requirement, particularly in the case of representatives working under supervision. Industry demands for production of business often take precedence over legal requirements, particularly if the time frame to obtain a qualification is six years. The […]

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Final RE date for Reps Working Under Supervision

An important amendment to the conditions applicable to representatives working under supervision was announced in Board Notice 260 of 2013, published on 19 December 2013. Readers may recall that there was some uncertainty about the final deadline, which was later clarified. Representatives working under supervision had until 31 December of the year in which they […]

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RE Exams Pass Rates

Seldom has one seen such disparate views on a matter of national interest as those expressed on the 2013 matric results. While the government sang its own praises based on statistical improvements, concerns were raised by others about the bigger picture, and particularly how much value one can place on a certificate when the pass […]

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Keeping the Registrar up to date

The FSB regularly publishes details of changes to the licensing conditions of FSPs. These include new licence applications, as well as withdrawals and suspensions of licences, and reinstatements. To date, it would appear that most of the terminations concerned non-payment of levies and failure to submit annual reports. It would appear that problems arose when […]

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Foreign FSPs and the Regulatory Examinations

Dr. Des Leatt kindly provided us with the following clarification from the FSB on this topic. There appears to be some confusion regarding the Level 1 Regulatory Exams as they apply to Foreign FSPs. I received the following clarification from the office of the Regulator. An important determinant in this matter is Board Notice 119, […]

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RE Focus: Why do I keep on failing?

We regularly receive desperate calls for advice from candidates who have repeatedly failed the level 1 regulatory examination. Perhaps we should start off with the bigger picture – on Tuesday, we heard from the FSB that 86% of key individuals who were obliged to write the regulatory exam by the final cut-off date, attempted to […]

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