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LOGO TO BE CONFIRMEDFSB REGULATORY
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Table of ContentsTasksGlossary of T
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8.8 Other provisions of the general
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TasksThe material provided in this
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PurposeThe FAIS Act introduced mark
- Page 12 and 13: The duties of FSPs are described in
- Page 14 and 15: CATEGORY II: SUBCATEGORIES2.1 Long-
- Page 16 and 17: 1.5.2 AdviceThe FAIS Act defines
- Page 18 and 19: The elements of „advice‟ includ
- Page 20 and 21: 1.5.3 Intermediary serviceLet's loo
- Page 22 and 23: 1.5.2 Types of financial productsFi
- Page 24 and 25: FSP licences are issued for specifi
- Page 26 and 27: 5. To provide a financial service m
- Page 28 and 29: 6. To give advice means to:a) give
- Page 30 and 31: PurposeThis chapter introduces the
- Page 32 and 33: Example 1:CBA Financial services is
- Page 34 and 35: Submitting documentsEmploymenthisto
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- Page 38 and 39: The person was found guilty in any
- Page 40 and 41: 2.3.5 Experience requirements for k
- Page 42 and 43: TABLE A: CATEGORY I EXPERIENCE REQU
- Page 44 and 45: Experience requirements for a Categ
- Page 46 and 47: was obtained through active involve
- Page 48 and 49: IF YOU…Were appointed from 1Janua
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- Page 54 and 55: serious enough to impugn the honest
- Page 56 and 57: Self-Assessment QuestionsPlease not
- Page 58 and 59: ) Once a key individual has been ap
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- Page 66 and 67: PurposeChapter 3 introduces you to
- Page 68 and 69: Let's look at the responsibilities
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- Page 72 and 73: 3.3.3 Competency requirements for r
- Page 74 and 75: We discussed the tables under 2.3 a
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- Page 82 and 83: The purpose of the register is to:p
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- Page 88 and 89: c) The representative register need
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- Page 92 and 93: 8. The general experience requireme
- Page 94 and 95: PurposeIn Chapter 4 you will learn
- Page 96 and 97: TABLE ACATEGORIES 1 and IV: LEVEL O
- Page 98 and 99: 4.2 SUPERVISION REQUIREMENTSKey ind
- Page 100 and 101: Ensure that the supervision require
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- Page 104 and 105: Self-Assessment Answers1. In terms
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- Page 108 and 109: PurposeBefore a juristic entity can
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5.3 SECTION 13As mentioned above, S
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What must be done?The FSP must main
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Registrar, by 31/12/2013.Failure by
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It should be a condition of the emp
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4. In order to meet the requirement
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5. Section 13 imposes certain dutie
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PurposeChapter 6 gives you an overv
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Ramifications for the FSP if debarm
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All other administrative or legal p
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3. May an FSP use information obtai
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124 © INSETA - Section 1 12a
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PurposeDuring the course of the lif
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In the discussion of the purpose an
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caused by or arose out of the carry
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c) within 60 days after the busines
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134 © INSETA - Section 1 12a
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PurposeThe FAIS General code prescr
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of crime, money-laundering legislat
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Requirements.the existence of a spe
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Disclosure must include the followi
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8.4 MANAGING TRANSPARENCY AND CONFL
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Where the juristic person is neithe
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what measures were taken to avoid/m
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A provider must continuously monito
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2. Identify the financial product o
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1. A brief summary of the informati
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are addressed in the business-speci
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8.8.3 Insurance 89One of the risks
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WHO? BY WHEN? WHAT?Category III pro
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a representative, the information m
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Record of advice 106A direct market
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influence the objective exercising
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4. What needs to be disclosed to cl
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Self-Assessment Answers1. Which of
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8. The two main requirements of giv
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PurposeThis chapter introduces you
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„compliance practice‟ means a c
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Internal compliance officer:where t
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9.1.5 Withdrawal of a compliance of
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One of the main functions of a comp
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Internal auditors normally audit co
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Information about the FSPs adherenc
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Compliance reports must be submitte
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190 © INSETA - Section 1 12a
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PurposeThe application process for
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the financial services business as
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Disclose compliance with other appl
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easons why the provisional suspensi
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impartial tribunal or forum. This i
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10.3.2 Civil remediesRestrainingord
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10.4 LEVIES PAYABLE IN TERMS OF THE
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Any contravention of or failure to
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Self-Assessment Answers1. Which of
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PurposeAs a key individual, you nee
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11.2 EFFECT OF VOLUNTARY SEQUESTRAT
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2. A licence of ANY FSP may lapse:a
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5. Before sequestration, winding-up
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PurposeIn Chapter 12 you will find
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3. The records and documentation Th
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The Registrar has certain powers in
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SummaryThe FAIS Act requires string
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4. Section 22 of the FICA requires
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228 © INSETA - Section 1 12a
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PurposeManaging the infrastructure
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A key individual, in respect of an
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The financial statements can either
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Self-Assessment Answers1. The opera
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PurposeChapter 14 introduces you to
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Sec 19(4) states that: the auditor
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2. The financial statements must:a)
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244 © INSETA - Section 1 12a
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PurposeThe FIC Act imposes certain
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Accountable institutionsThe FIC Act
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The four (4) money laundering contr
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The documents used to identify and
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In an FSB FAIS Newsletter, the FSB
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Protection of Constitutional Democr
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steps to be taken to determine and
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3. Section 21(1) of the FICA requir
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PurposeChapter 16 is the last part
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The Ombud for Financial Services Pr
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11. If the complainant is unhappy w
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the contractual or other legal rela
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Self-Assessment Answers1. The funct