Clarifying a statement…

A comment we made on Monday in the Moonstone Investment Indicators Newsletter (18 June) could be misconstrued. A reader submitted the following query:

Reading your article we note that you make the comment that any K/I-Rep. who does not write the regulatory exam, having actually made a booking, will not be “qualified to write again before 30/09/2012”.

It is assumed that if this is the case, it will apply not just to those who have booked and didn’t write the exam before 30/06/2012, but also to those who didn’t book at all?

Are we to understand then that the examination bodies have been instructed to decline to register any exam application between 01/07/2012 and 30/09/2012 if the applicant has not previously written and failed the exam prior to the 30.06.2012 deadline?

We apologise for any misunderstanding in this regard.

There is absolutely no embargo or prohibition concerned for those who failed to write for the first time before 30 June 2012. Scores of candidates who missed the final registration date of 15 June (in order to write on 29 June) subsequently registered from 3 July onwards.

If you did not “qualify” to rewrite before the end of September, you are still very welcome to register at any stage and write. It is possibly advisable to do so any way, if your competency status is affected. You will need to pass the exam before you can be reinstated. The sooner you do it, the sooner you can back to business.

We expect a notification from the FSB to clarify how it intends handling the situation after 30/6 where people failed to write for the first time. Until such time as we hear from them, we suggest that readers study the two circulars sent out after the 2010 deadline.

Download the circulars on Representatives and Key Individuals.

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