COB
Class of Business
"COB training is a new Fit and Proper requirement in terms of Section 29 of the Board Notice 194, 2017 – Determination of Fit and Proper requirements."
What is covered in COB training?
MBSE Class of Business training provides generic training in each of the nine classes of businessMain contents of class of business training include:
general features and benefits of the class and sub-classes | costs and risks | tax implications | legislation | market participants | economic factors | and risks pertaining to that class of business | and to the financial sector as a whole and the training also addresses the interrelationships in and between different classes of business in the sector.
general features and benefits of the class and sub-classes | costs and risks | tax implications | legislation | market participants | economic factors | and risks pertaining to that class of business | and to the financial sector as a whole and the training also addresses the interrelationships in and between different classes of business in the sector.
What is meant by Classes of Business?
There are currently nine (9) classes of business.1. Short-term Insurance: Personal Lines
2. Short-term Insurance: Commercial Lines
3. Long-term Insurance
4. Pension Fund Benefits
5. Short-term and Long-term Deposits
2. Short-term Insurance: Commercial Lines
3. Long-term Insurance
4. Pension Fund Benefits
5. Short-term and Long-term Deposits
6. Structured Deposits
7. Investments
8. Forex Investments
9. Health Services Benefits
7. Investments
8. Forex Investments
9. Health Services Benefits
CPD
Continuous Professional Development
"In terms of Board Notice 194, advisers are obliged to perform CPD activities during a “CPD cycle”. This period is from 1 June to 31 May every year."