Subject Title - INSETA

Experience requirements for Category III representativesAll the general experience requirements must be met in respect of CategoryIII, and in addition 31 :the representative must have three (3) years‟ practical experience inthe rendering of financial services in Category III;It must be practical experience gained in the rendering of financialservices as referred to in the definition of „Administrative FSP‟.Experience Requirements for Category IV RepresentativesAll the general experience requirements must be met in respect of CategoryIV, and in addition 32 :the Representative must have one year practical experience in therendering of financial services as referred to in the definition of“administration of assistance policies”.3.3.5 Qualification requirements for representativesRepresentatives, like key individuals, must also meet qualification criteria inorder to be fit and proper and must therefore have appropriate qualifications.We discussed the concepts of "qualifying criteria" and the "types ofqualifications" in Chapter 2 when we looked at the qualification criteria forkey individuals.The same principles apply to representatives – we repeat some of it here foryour convenience.The FAIS Registrar publishes a list of "recognised qualifications" for eachcategory and subcategory. When a representative is responsible for morethan one category or subcategory he needs to have a qualification that meetsthe most onerous requirements - there is no need to have a qualification foreach category or subcategory.31 Section 4(4)(a)/(b) of BN 10632 Section 4(5)(a) / (b) of BN 10668 © INSETA - Section 1 12a