Subject Title - INSETA

3.4.3 Updating the register of representativesThe FSP must ensure that the register is constantly updated – adding andremoving representatives and key individuals. The register must be sent(uploaded) to the Registrar within 15 days of changes either in hard copyformat or electronically.The key individual is responsible, as part of the management and oversightfunctions, to ensure that the representative register is updated and sent tothe Registrar as required.Changes in the circumstances of representatives or key individuals must berecorded in the register.Changes may include: Change of name Qualifications Change of address Change in categories orsubcategories where financialservice is provided Services under Debarmentsupervision Resignation Regulatory DismissalexaminationsKey individuals must ensure that there are adequate procedures in place torecord the information as well as to identify changes in the information andrecord same.3.5 RECRUITMENT AND APPOINTMENT OF REPRESENTATIVES3.5.1 Recruitment and appointment procedures for representativesAs a key individual, you will play an integral role in ensuring that the FSPrecruits and appoints representatives who meet the fit and properrequirements.When an FSP wants to appoint a representative, the necessary checks mustbe done and documentation obtained to ensure that the prospectiverepresentative meets all the requirements.© INSETA - Section 1 12a 75