"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 business
Main 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.
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
6. Structured Deposits
8. Forex Investments
9. Health Services Benefits
"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."
offered by Moonstone are categorised as follows:
Keep up to date with changes in the financial services environment, and knowledge and understanding of applicable laws in the financial services sector
Keep up to date with ethical standards required in the financial services sector
Keep up to date with professional
best practice in terms of provision
of financial services, and generic
knowledge and understanding
of the environment and
financial products for which
you are authorised.
Business Skills & abilities
Keep up to date with best practice in terms of managing your practice
Please note: No CPD points will be allocated/reflected on your certificate for COB (Class of Business) products. Dismiss