Regulatory examinations 2010
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REGULATORY EXAMINATIONS 2010. Stefanie Mackenzie. Regulatory Examinations. Unlimited attempts Level 1: Sole Proprietor & KI: At application for authorisation / approval Rep: within 2 years of appointment Legislation: FAIS, FICA, Codes of Conduct Level 2: Product Specific

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REGULATORY EXAMINATIONS 2010

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Regulatory examinations 2010

REGULATORY EXAMINATIONS 2010

Stefanie Mackenzie


Regulatory examinations

Regulatory Examinations

  • Unlimited attempts

  • Level 1:

    • Sole Proprietor & KI: At application for authorisation / approval

    • Rep: within 2 years of appointment

    • Legislation: FAIS, FICA, Codes of Conduct

  • Level 2:

    • Product Specific

    • Similar types are grouped together

    • May write multiple examinations

    • Within 6 years of appointment


Level 1 examinations

Level 1 examinations

  • Deals with legislation:

    • FAIS Act

    • FICA Act

    • General Code of Conduct

    • Regulations to FAIS Act

    • Fit and Proper

    • Specific Codes (Administrative & Discretionary)

  • Who writes:

    • Key individuals & sole proprietors

    • Representatives


Level 2 examinations

Level 2 examinations

  • Deals with:

    • Product category specific aspects

  • Write in capacity as:

    • Sole proprietor FSP

    • Representative


The examination bodies

The Examination Bodies:

  • South African Institute of Financial Markets (SAIFM)

  • Financial Planning Institute (FPI)

  • Moonstone Information Refinery

  • Institute of Bankers / Leselo


Examinations

Examinations


Current status

Current status

Level 1 examinations:

  • RE 1 and RE 5 complete – ongoing question development

  • Pilot 1, IEB Moderation, Control Group, Cut Score Exercise, Pilot 2

  • IEB Moderation – 14 October 2010

  • Feedback to the Ebs – 15 October 2010

  • RE 2, RE 3 and RE 4 almost completed


Regulatory examinations 2010

Current status

Level 2 examinations:

  • RE 11 – 15 completed

  • Pilot middle November 2010

  • All other examinations in progress – trials taking place


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