Subject Title - INSETA

3.3.3 Competency requirements for representativesThe Act requires that representatives must have certain minimumexperience, qualifications and that they should complete prescribed exams,all of these within stipulated deadline dates. To understand whichcompetency requirements/deadline dates apply to each representative, it isnecessary to correctly establish the first-ever date of appointment into a FAISrole.The „date of first appointment‟ into a FAIS role refers to the date when theindividual was appointed, at any financial services provider in the industry, torender financial services in terms of the FAIS Act.The competency requirements for representatives are made up of thefollowing:minimum experience requirementsrelevant qualifications requirementsthe successful completion of relevant regulatory examinations; andongoing compliance with continuous professional development (CPD)requirements.The following general competency requirements are discussed in more detailin the material to follow.GENERAL COMPETENCY REQUIREMENTS FOR REPRESENTATIVESA representative, must at date of appointment by an FSP:have the minimum experience requirements;have all the required qualifications (unless the representative worksunder supervision and the minimum qualifications for supervision aremet)must have completed all regulatory examinations.64 © INSETA - Section 1 12a