Fit and Proper for Key Individuals- Becoming fighting fit

7 CPD

R684.17

This course outlines the content of Board Notice 194 of 2017, highlights some new concepts, sets out the fit-and-proper requirements that you, as a key individual, have to meet for
different categories and sub-categories of FSP.

Lists and discusses the responsibilities of a key individual to ensure that the FSP meets the new fit-and-proper requirements stipulated in Board Notice 194 of 2017.

Description

Focus Area:

  1. Know the fit-and-proper requirements for key individuals in terms of honesty, integrity and good standing, competence, CPD, operational ability and financial soundness.
  2. Know and be able to apply the fit-and-proper requirements when appointing natural or juristic representatives, know what the remuneration requirements are, and be able to deal with the termination of the services of a representative.
  3. Be able to establish policies, systems and mechanisms to ensure the competence of people who render financial services in your FSP, evaluate and review their competence, establish policies and procedures on CPD, and implement and maintain a competence register for your FSP.
  4. Be able to implement processes to enable your FSP to meet the governance requirements stipulated in Board Notice 194 of 2017.
  5. Apply the requirements regarding outsourcing of functions to persons other than representatives of the FSP, and be able to review and manage outsourcing contracts.
  6. Know the financial soundness requirements for different categories and sub-categories of FSP, and be able to calculate whether your FSP complies with the financial soundness requirements set out in Board Notice 194 of 2017.

Who should register?
Key Individuals

CPD information
7 CPD point on completion of course and successful pass of final assessment
The course is accredited by the Compliance Institute and thus qualifies as a verifiable CPD activity towards the accumulation of CPD hours as required by the FSCA.