Subject Title - INSETA

the experience was obtained through active involvement in providingfinancial services and could have been gained while working undersupervision;the experience could have been gained simultaneously in multiplesubcategories, provided that proof of such experience can besubmitted;the experience could have been gained in a team environment wherethe person participated in the process of making investment decisionswhilst working under supervision; andif the licence changes to include the financial services in othersubcategories, the experience requirements of the othersubcategories must be met.Experience requirements for Category IIAThe FSP (who is a sole proprietor) must have three (3) years‟ experiencewhich must be practical experience gained in the rendering of financialservices in respect of Category IIA, provided that the experience:involved the active and ongoing gaining of knowledge, skills andexpertise required in terms of the Act; andwas obtained through active involvement in providing financialservices and could have been gained while working undersupervision. 20Experience requirements for a Category IIIA representative of a Category III FSP must have three (3) years‟ practicalexperience gained in the rendering of financial services as referred to in thedefinition of „Administrative FSP‟.The key individual of the Category III FSP must also have at least one (1)year's practical experience in the management and/or oversight of servicessimilar to or corresponding to the financial services rendered by the FSP,provided that the experience:involved the active and ongoing gaining of knowledge, skills andexpertise required in terms of the Act;20 Section 4(3)(a) of BN 106© INSETA - Section 1 12a 37