Subject Title - INSETA

Example of qualifying criteria for a key individualTASK KNOWLEDGE SKILLSDescribe what the key individual‟smanagement responsibility entailsPerform the necessarymanagement andregarding the regulated functions oversight functionsDescribe theof the FSP.regarding theirrole of thefunctioning within thekeyFSP.individual inDescribe what the honesty and Check whether aterms of theintegrity requirements are for a key potential/current keyFAIS Act.individual.individual meets therequirements regardinghonesty and integrity.2.3.8 Types of qualificationsIt is not possible for all qualifications to meet all the qualification criteria, andyou find that some qualifications‟ content meets 80% of specific criteria, andothers may meet 100% of the applicable criteria.To differentiate between these qualifications, the regulator introduced a„rating‟ system.If a qualification, in terms of content, meets the qualifying criteriaonly partially, it is recognised as a Generic (G) qualification.If a qualification, in terms of content, matches the qualifying criteria80%, it is recognised as a Specific (S) qualification.If a qualification, in terms of content, matches the qualifying criteria100%, it is recognised as a Specific (SP) qualification.The main reason for the differentiation and classification of qualifications is toindicate if a person has to complete a second level regulatory examination, inaddition to the qualification.IF YOU…have a generic qualification(G)Were appointed prior to 31December 2009 and haveobtained a specificqualification (S)THEN…you have to complete a product-specificregulatory examination.you will be exempted from the productspecificregulatory examination,© INSETA - Section 1 12a 39