A reader recently enquired about the validity of the regulatory exams in view of all the pending new legislation. “Will my RE1 and RE5 certificates still be valid when the new Twin Peaks legislation comes into effect?” The new laws will not be implemented overnight. It will be phased in over time. As this happens, […]
The new “Level 2” REs and CPD Background Almost exactly six years ago, give or take a day or five, Moonstone presented the very first Level 1 Regulatory Examinations. At that time, it was envisaged that there would be three “levels” of ascertaining a person’s ability to conduct him or herself in a professional manner. The […]
Candidates are reminded that future changes to the laws and regulations governing financial services will affect the question database used for the Regulatory Exams. Once legislation is passed, changes and additions are made to the questions. Past experience has shown that amendments to study material can take some time to effect. It is therefore wise […]
Product knowledge requirements via the level 2 Regulatory Examinations and CPD requirements were originally introduced in Board Notice 106 of 2008. Subsequent to the effective date of these requirements, the Registrar granted general exemptions to the industry from complying with such requirements to allow it to review the competency framework. Clarity on how the regulator […]
We often receive queries from employers regarding the validity of RE certificates produced by prospective applicants. This is indeed wise, as we are aware of instances where people fraudulently replicate documents by means of modern technology. What copy cats do not realise, is that all parties of the illegal act can be identified – both […]
We reported on the 18th of April of two new draft Board Notices which aim to clarify the regulatory exam requirements for compliance officers and COs under supervision. A compliance officer must successfully complete the first level regulatory examination applicable to the Category of FSP in respect of which he or she renders compliance services. […]
The RDR Phase 1 status update provided clarity on the FSB’s thinking on the future role and functions of a Key Individual. Under the discussion of Proposal Y: Advisers may not act as representatives of more than one juristic intermediary (adviser firm), it states: A number of commentators highlighted the fact that Proposal Y focuses only on […]
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 […]
New UK exam date Our next UK exam is scheduled for 17 March 2016. For more information contact Marietjie at faisexam@moonstoneinfo.co.za. REs in Mauritius We received several enquiries from candidates resident in Mauritius regarding the possibility of writing the exams there. We are quite happy to do so, provided we have a minimum of 15 to 20 […]
Often, candidates, despite having paid within 24 hours of registration, receive a notification advising that their examination was temporarily cancelled due to failure of payment. The important word here is TEMPORARY. Our system is set up to automatically send out this notice if the payment is not reflected in our bank account within 24 hours. […]
