Subject Title - INSETA

5.4 THE IMPLICATIONS IF A REPRESENTATIVE DOES NOT MEETTHE FIT AND PROPER REQUIREMENTS BY THE REQUIREDDATEThe fit and proper requirements applicable to representatives are as follows:Honesty and integrityCompetency:- Experience- Qualifications- Regulatory examinations; and- CPD.There are defined timelines for successful completion of the experience,qualifications, regulatory examinations and CPD requirements. The CPDrequirements will only become effective at a later stage.The timelines are as follows: 42Date of first appointment: 2004 to 2007For FSPs (sole proprietors), key individuals and representatives who wereapproved or appointed in terms of the FAIS Act between 2004 (when theAct went into effect) and 31 December 2007, the requirements are thatthey must have met the relevant qualification requirements (either a fullqualification or an appropriate skills programme) by 31 December 2009.These requirements can be found in Part 10 of the Determination of Fit andProper Requirements for Financial Services Providers.Date of first appointment: 2008 - 2009The competence requirements for representatives, who were appointed forthe first time in respect of a specific product category in 2008 or 2009, arealso provided for in Part 10 of the Determination of Fit and ProperRequirements for Financial Services Providers.Representatives with a date of first appointment from 1/1/2008 to31/12/2009, have a choice of either completing an appropriate skillsprogramme by 31/12/2011 or a full qualification as published by the42 FAIS Circular 01/2010© INSETA - Section 1 12a 107