Training Related News

  • Approved Qualifications: Robyn Shapiro from Investec wanted to know if the list of approved qualifications was updated since the publication of Board Notice 135 on 15 August last year. It appears that this is still the last update, although we did find a few anomalies which we shared with the Regulator. The task group who considers applications for approval of new qualifications still meets to consider such applications, and it is possible that an updated Board Notice will be published. We are of the opinion that possible changes to the Level 2 regulatory exams may play a part in why the list has not been updated yet. We trust that a progress report on the introduction of the Level 2 REs and continuous professional development will be published soon.
  • Treating Customers Fairly: There is very little new on the FSB website concerning the implementation of TCF – the last document was published in 2011, although some information is contained in other publications. I came across a presentation on the FSB website which indicates that the planned implementation date is sometime in 2014, but nothing more specific has, as yet, been published. This implementation year is also subject to progress on the introduction of the Twin Peaks model of regulation of the industry. We advise readers to proceed with caution until more factual information is available. The fact that the six outcomes follows the UK model closely, does not mean that the implementation will, too. This is Africa.
  • Compliance Officer REs: Those who saw the movie “Dinner for One” will recognise the phrase: “Same procedure as last year, Miss Sophie?” Board notice 207 of 2012 made provision for the exemption of compliance officers from complying with the deadline for writing until further notice. Another exam which had its sell-by date extended.
  • If you require assistance with training and qualification related matters, please feel free to phone Albert Marais or Ronel Nell on 021 883 8000.
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