2009/03/05 12:00:00 AM
2008 IntakeIn terms of the required qualification you are actually given a choice of obtaininga. the prescribed skills program credits by 31/12/2011 orb. a full qualification as recognised by the FSB as appropriate to the category or sub-category approved for by 31/12/2013. As an incentive to take this option, students who have completed one of the approved specific (not generic) qualifications as published on the FSB’s recognised qualifications list will be exempt from writing RE 2 for the specific sub-category. Your first regulatory exam (RE1) which focuses on legislative issues must be completed by 31/12/2011 and RE2 on products and regulations pertaining thereto by 31/12/2013. Class of 2009There is no option for these FSPs - they have to obtain a qualification by 31/12/2013, unless of course they already possess an appropriate qualification. RE1 has to be completed by 31/12/2011 and RE2 by 31/12/2013. From 2010 onwards the going gets tough. You cannot come into the industry without the required minimum qualification. A lot of importance is attached to experience, and those lacking this can only obtain it while working under supervision. In the case of a sole proprietor, this is of course impossible, so they will have to acquire the minimum experience elsewhere under supervision. A further requirement is that those wishing to run a business other than a one person business must provide proof of at least one year's experience in managing or overseeing in the financial services environment, and such experience must relate specifically to the category or sub-category applied for. Continuous Professional DevelopmentThis only comes into effect after the regulatory examinations have been completed successfully. Source:Paul Kruger: Moonstone Information Refinery (Pty) Ltd
It moves your brokerage to a new level of profitability Cover, July 2008
It moves your brokerage to a new level of profitability
Cover, July 2008