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The Essentials of CPD

If we had to draw up a hit parade of enquiries received from readers, debarments would be top of the pops, closely followed by CPD – continuous professional development. This is not surprising as some naughty training service providers used this quite extensively to market their services despite the fact that, for the majority of […]

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Fit and Proper Competence Register

Those who love record keeping will be elated by the new requirements contained in Board Notice 194 of 2017. “A FSP must establish, maintain and update on a regular basis a competence register in which all qualifications, successfully completed regulatory examinations, product specific training, class of business training and CPD of the FSP, its key individuals […]

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Email signatures under the looking glass

How does a standard electronic signature differ from the Advanced Electronic version? According to Neil Summers, Head of Sales at Moonstone, it is important to understand the legality of e-signing, especially with all the e-meeting technology offerings currently available, some with transactional capability and digital signing functionality. He recently shared his thoughts on the Standard […]

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CPD

Transitional arrangements for Reps under supervision

Board Notice 194 (Determination of Fit and Proper Requirements) stipulates that a “…FSP and representative must, prior to the rendering of any financial service in respect of a particular financial product, complete the class of business training; and product specific training, relevant to that financial product for which they are authorised or appointed…” What about […]

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Expand your reach via Facebook

Whether you like it or not, social media and technology have changed the way that we do business. It has changed the way that we interact, not only with our friends, but also with our clients. A recent US research study has shown that 81% of the financial advisors surveyed are using social media in […]

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FSB Regulatory Exam Update

The amended requirements contained in the 2017 Determination of Fit and Proper Requirements will have a substantial impact on the content of the study material for the REs. The FSB’s FAIS Information Circular 1/2018 confirms a number of matters we discussed since the publication of the new Fit and Proper Determination, which comes into effect […]

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Training

Training requirements under the new Fit and Proper Determina …

The Latest Determination of Fit and Proper requirements refers to three types of training under the competence requirements. A look at the definitions will help readers distinguish more clearly what impacts on them, and what not. I underlined what I regard as important aspects of the definitions. “class of business training” means training in respect […]

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CPD and Reps Working Under Supervision

K writes: I read your article on the effective date of 1 June 2018 for Continuous Professional Development, and your comment that it leaves little time to plan for compliance. Please clarify whether representatives under supervision will also have to comply with CPD from 1 June 2018 or only when they have met all the other requirements with regards […]

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