Fit4FAIS Training

The new determination of Fit and Proper requirements introduce a new concept, namely Regulatory Examinations.

There will be two levels of examinations:

FIRST-level regulatory exams will be compulsory for all key individuals and representatives and will test your regulatory knowledge of FAIS and FICA.

SECOND-level regulatory exams will focus on specific product knowledge and will comprise of multiple exams. The number of exams you will need to sit will be dependent upon the scope of your authorisation. It is important to note that all key individuals and representatives will need to complete these exams which we expect to kick off in the second quarter of 2010. It is our understanding that the exams will be case-study based and a pass mark of 70% is required.

With a view on the above requirements we wish to advise that Compli-Serve has entered into a joint venture with InvestmentWise an INSETA approved training provider and Dr Des Leatt to produce learning material and offer workshop sessions which will focus both on the required regulatory knowledge as well as case study and exam techniques. These coaching sessions will be run by InvestmentWise in classroom style venues in all major centres. Attendance is recommended to ensure that individuals are as well prepared as possible in advance of the exams. For more information on the FIT4FAIS training please visit the website at www.fit4fais.co.za