Supervision Requirements : FAIS Notice 86 of 2018

6 CPD

R586.43

There are a number of changes brought in by the new Exemption of Supervision, which takes effect on 1 February 2019. It is, therefore, important to know what exactly the Exemption provides, and to plan and supervise accordingly. The Exemption is not only applicable to new entrants to the industry, but also to existing representatives working under supervision.

Description

Focus Area:

  • Compare the provisions of the new Exemption to those of the previous Exemption.
  • Understand and explain when a representative may be appointed under supervision.
  • Know what the entry-level requirements for a representative working under supervision are.
  • Understand, explain and apply the seven conditions of the Exemption; i.e. entry-level requirements, specific compliance periods, supervision agreement, duties of the FSP, duties of the supervisor, duties of the representative and intensity of supervision.
  • Know and apply the steps for appointing a representative under supervision.
  • Incorporate supervision according to the new Exemption in your FSP.

Who should register?
Financial planners, financial advisors, Representatives under supervision

CPD information
6 CPD points on completion of the course and successful pass of the final assessment.

The course is accredited by the Compliance Institute of South Africa and thus qualifies as a verifiable CPD activity towards the accumulation of CPD hours as required by the FSCA.

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