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FAIS Key Individual Workshop RE1

Programme Outline

  • 3 day workshop 

  • Printed workbooks handed to learners at the workshop

  • Scheduling learners for workshops and exams

  • Communicate via FundaFuthi App to each individual on workshop and exam information

  • Content support by handling content or administrative queries

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FAIS Representative Workshop RE5

Programme Outline

  • 2 day workshop 

  • Printed workbooks handed to learners at the workshop

  • Scheduling learners for workshops and exams

  • Communicate via Fundafuthi App to each individual on workshop and exam information

  • Content support by handling content or administrative queries

Representative workshop RE5 (This examination is called FAIS Level 1 RE 5)

OVERVIEW

This regulatory examination focuses on your role and responsibilities as a representative, and what you need to know about the FAIS Act in order to remain compliant.

The content of this examination focuses on the regulatory framework, i.e. FAIS, FICA, Code of Conduct, etc, as prescribed by the FSCA.

This examination consists of 50 questions.

WHO NEEDS TO ATTEND

All Representatives performing financial services in relation to Category I, II, IIA, III and IV are required to complete the level 1 regulatory examination.

CONTENT

We will prepare you by working through each task as well as the qualifying criteria and relevant Board Notices, Codes and Act as stipulated by the FSCA.

THE TASKS ARE

  • Execute the required actions as a Representative in terms of the FAIS Act

  • Contribute to maintaining a FSP License.

  • Adhere to the specific obligations in terms of the relevant Code of Conduct and other subordinate legislation.

  • Apply knowledge of financial products.

  • Awareness of consequences for Representative that have been found to act fraudulently, or committed any other act that gives rise to debarment.

  • Align with execution of duties and actions with the compliance requirements.

  • Carry out the proper record keeping activities.

  • Adhere to the requirements of FICA and other relevant anti-money laundering legislation, as it applies to the FSP.

Key Individual workshop RE1 (This examination is called FAIS Level 1 RE 1)

OVERVIEW

This regulatory examination focuses on your role and responsibilities as a Key Individual.

We will be covering all the relevant Board Notices, Acts and Codes as prescribed by the FSP.

This examination consists of 80 questions.

WHO NEEDS TO ATTEND

All Key Individuals and Sole proprietors who are responsible for managing and overseeing a business relating to the rendering of financial services for FSP’s in Category I, II, IIA, III and IV are required to write this examination.

CONTENT

We will prepare you by working through each task as well as the qualifying criteria and relevant Board Notices, Codes and Act as stipulated by the FSCA. 

The 16 tasks as prescribed by the FSP are covered in the workshop.

THE TASKS ARE

  • Describe the role of the key individual in terms of the FAIS Act.

  • Describe the role of the representative in terms of the FAIS Act.

  • Manage and oversee the appointment of representatives.

  • Manage the rendering of services under supervision.

  • Manage and oversee the on-going development/employment of representatives.

  • Debar representatives that have been found to act fraudulently, or committed any other act that gives rise to debarment.

  • Awareness of the regulatory environment in which the FSP functions.

  • Awareness of the specific obligations in terms of the relevant Code of Conduct and other subordinate legislation.

  • Oversee and manage the compliance functions as required by the FAIS Act.

  • Maintain the licence of the FSP including the management of the licensing conditions

  • Take the necessary action if the FSP voluntarily lapses its licence.

  • Verify that the proper record keeping activities are carried out.

  • Manage and oversee / participate in the setting up and/or managing of the infrastructure of the FSP.

  • Manage and oversee the requirements that auditors/accounting officers must adhere to.

  • Manage and oversee the FSP's adherence to the requirements of FICA and other relevant anti-money laundering legislation, as it applies to the FSP.

  • Manage any processes required in the event of an investigation by the FAIS Ombud.

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