Subject Title - INSETA

was obtained through active involvement in providing financialservices and could have been gained while working undersupervision; andcould have been gained simultaneously in multiple subcategories,even while working under supervision, provided that proof of suchexperience can be submitted.2.3.6 Qualifications requirements for key individualsRemember, one of the competency requirements for fitness and proprietybeyond 2010, is that the key individual must have an appropriatequalification. The FAIS Registrar publishes a list of „recognised qualifications‟for each category and subcategory.When a key individual is responsible for more than one category orsubcategory, he needs to have a qualification that meets the most onerousrequirements – there is no need to have a qualification for each category orsubcategory.2.3.7 Qualifying criteriaIn order to establish which qualifications are recognised as appropriate forkey individuals, the qualifications must meet the qualifying criteria, also setby the Registrar and published in the subordinate legislation.The qualifying criteria serve two purposes. They are used to:1. evaluate the content of the qualifications.2. set the standards for the regulatory examinations.The qualifying criteria describe what a person must know (knowledge) andwhat a person must be able to do (skills) in order to complete a specific tasksuccessfully (such as giving advice and/or rendering intermediary services orperforming the functions of a key individual).38 © INSETA - Section 1 12a