Introduction to Debarment in South Africa

3.5 CPD

R342.08

When a financial advisor is debarred in South Africa, they are denied the legal capacity to provide financial services. The Financial Advisory and Intermediary Services Act 32 of 2002 (“FAIS”) sets out the requirements and procedures for debarment. The Financial Sector Regulatory Act 9 of 2017 (“FSR Act”) introduces a number of changes to the debarment process. Guidance Note 1 of 2019 has provided further clarity on the topic of debarment.

This course examines the interrelationship between FAIS and the FSR Act in relation to the requirements and procedures for debarment. It also analyses important decisions relating to debarment, while providing an example of a debarment policy.  An understanding of the debarment process will enable financial advisors to know what their rights are while remaining relevant in a fast-changing landscape.

Description

Focus Area

  • An understanding of the key requirements comprising debarment in South Africa
  • An understanding of debarment under the FAIS Act
  • An understanding of how the FSR Act has changed the requirements for debarment
  • An understanding of Guidance Note 1 of 2019
  • An understanding of recent decisions on debarment
  • An understanding of the requirements for a debarment policy
  • An awareness of the requirements of debarment and the application of debarment decisions

Who should register?

Financial planners, financial advisors, para-planners and business owners will benefit from enrolling for this course.

CPD information

3.5

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