Subject Title - INSETA

All other administrative or legal procedures or proceedings in termsof the Act or any other law, arising out of any acts or omissions inwhich the applicant was directly or indirectly involved prior to thedebarment date, must have been properly and lawfully resolved orconcluded, as the case may be, and the applicant must have fullycomplied with any decision, determination or court order inconnection therewith, given or issued in respect of the applicant.All fit and proper requirements as contemplated in section 8(1)(a)and (b), read with section 13(2), of the Act are complied with.6.2 KEEPING RECORD OF THE ACTIVITIES OFREPRESENTATIVES AND KEY INDIVIDUALSAdequate record-keeping to keep track of the activities of representativesand key individuals in respect of meeting the fit and proper requirementsmust be in place.There are internal operational and training requirements whichrepresentatives and, in fact, everybody who has a role to play in a FAISfunction need to meet and be aware of.Remember, the key individual must ensure that the FSP has the operationalcapability to function, as part of the management and oversight function ofthe key individual.There should be documented processes in place to record: the training attended by representatives and key individuals –including training relating to FICA requirements. the CPD hours and related activities. compliance by representatives and key individuals with the applicablefit and proper requirements – such as qualifications, completion ofregulatory examinations, etc. the categories and products for which representatives and keyindividuals are authorised to provide intermediary service or advice. all the information relating to services under supervision – such asthe details of supervisors and supervisees as well as the duration ofthe supervision. initial and ongoing checks on the fitness and propriety ofrepresentatives and key individuals – such as honesty and integrity.120 © INSETA - Section 1 12a