Competence Experience Qualifications Regulatory Exams CPD.

Slides:



Advertisements
Similar presentations
Professional Updating (How do ITE tutors keep up to date) GTE Workshop 2009.
Advertisements

Health and Safety Executive Health and Safety Executive Vocational Qualifications for Health & Safety in Agriculture Presented by Alastair Mitchell.
Young Engineers and Training Working Group Working Group formed in 2010 to consider ways to meet shortfall of engineers identified by members The group.
FIA Regional Conferences 2012: Regulatory Update
THE FAIS ACT FOR KEY INDIVIDUALS AND REPRESENTATIVES by Daleen Millard 26 January 2011.
Regulatory Reform and Implications for the Municipal Bond Market RBDA Financial Regulatory Reform Webinar Lynnette Kelly Hotchkiss, Executive Director.
Compliance Forum Margaret Spong 16 th May 2007.
A member of the Old Mutual Group 1 Integrated FAIS presentation Insurance Institute of Gauteng Forum Wednesday, 19/05/2010.
2. THE CIMA CHARTERED MANAGEMENT ACCOUNTING QUALIFICATION 2005
Auditor Competency David Brackston Technical Director BRC Global Standards.
The QCTO in an improved NQF landscape
1 Determination of Fit and Proper Requirements for FSP’s.
Source: Section 2 General Code of Conduct A n t i m o n e y l a u n d e r i n g ( A M L ) i s a t e r m m a i n l y u s e d i n t h e f i n a n c i a.
1 Members’ Forum  QP Concept and Philosophy  Transitional Arrangements  Accreditation Process.
Bernadette Gigliotti Executive Manager CEAV Anita Viglione CEAV webmaster – Moderator.
Bringing clarity to the QCF QCF implementation seminars.
REGULATORY DEVELOPMENTS Advisory Council RE LEVEL 1  Approximately 94% passed  FSB busy with applications for exemption  Enforcement process.
The Standards Framework. Outline of Presentation The Standards Framework AGM Motion The Rationale for Adopting the Framework Paths to Recognition Continuing.
INSETA FIT & PROPER PROJECT. Glen Edwards:Co-ordinator Ponie de Wet:Glen’s Manager Cheryl Greenslade:Administrator Plus Steering Committee Industry Advisory.
Training and Health & Safety Under Construction II Malta Twinning Seminar 2 October 2009 Training and Health & Safety Tonio Farrugia.
Investment Funds Conference “Collective Investment Funds in the Qatar Financial Centre – Confidence and Opportunity” November 26-27, 2007 Michael Webb.
Stefanie Mackenzie. 2 2 Representatives (50 Questions) FSP II & IIA Exam (30) FSP 1.1 & 1.19 General Exam (50) FSP III Exam (30) FSP I & IV, II, IIA &
The FAIS Act What is it?. 2 Consumerism Modern legislation and best practice dictate that the rights of the consumer are of utmost importance Service.
Key Individuals chapter 5. Operational ability of FSP in regulatory environment Compliance functionAll licensing requirements Services under supervision.
Key Individual chapter 3. CO must submit reports to Registrar Phase 1 and Phase 2 qualifications and experience CPD requirements Registrar may withdraw.
1 Financial Services Board Regulatory Examinations October/ November 2011.
FAIS Fit and Proper June Presentation overview Implementation of the project Historically speaking Implementation of the project 07 – 09 Curriculum.
Presented by the Inspired Learning Regulatory Academy
January Slide 2 Australian Quality Training Framework (AQTF) The AQTF is the national set of standards which assures nationally consistent,
The Construction Industry’s Leading Certification Card Scheme.
Individual Membership. Maintaining your competency “ We acknowledge, as many have reminded us, that competence is not just about examinations. It is about,
THE NQF IN THE BANKING SECTOR 19th October Δ Module 1: The NQF in the context of FAIS Δ Module 2: The purpose and value of skills programmes Δ Module.
INSETA FIT & PROPER PROJECT. Licensing education requirements and the FSB.
Key Individual Chapter 1. Anti-money laundering compliance FICA internal rulesMonitoring and identification Auditing and Accounting process Codes of conductSubordinate.
NCATE for Dummies AKA: Everything You Wanted to Know About NCATE, But Didn’t Want to Ask.
Institute of Financial Studies approach to sustain Romanian Vocational training in insurance Calin M. Rangu, PhD.
UNDER CONSTRUCTION II CONFERENCE 13 TH N OVEMBER 2009 CONSTRUCTION SKILLS CERTIFICATION SCHEME 1.
Chartered Accountants Ireland Longest established (since 1888) Biggest in Ireland – 24,000 members Largest educator – over 6,000 students ‘Chartered’ –
Continuous Professional Training System Ireland Presented by: Paula Hodson, FCII Director of Development Services – The Insurance Institute of Ireland.
Stefanie Mackenzie REGULATORY EXAMINATIONS Regulatory Examinations  Unlimited attempts  Level 1: − Sole Proprietor & KI: At application for authorisation.
FSB Presentation BANKSETA Conference 26 October 2007 Charene Nortier.
Ruth Martin The SII Perspective on T&C Development Developments APCIMS Conference 26 th June 2008.
Assessment Validation. MORE THAN YOU IMAGINE ASQA (Australian Skills Quality Authority) New National Regulator ASQA as of 1 July, 2011.
FAIS Fit & Proper Regulatory Examinations Levels I & II Advocate Jane Appasamy.
Presented by: Peter Atkinson i-fundi – Developments in the South African Insurance Industry 30 October 2015.
REPORT BACK ON THE IMPLEMENTATION OF THE FINANCIAL ADVISORY AND INTERMEDIARY SERVICES ACT (“FAIS”)
#PPRCONF Regulation & Compliance Rita Leat PROFESSIONAL PARALEGAL REGISTER CONFERENCE 2016.
INTERNATIONAL RECOGNITION. LOCAL RELEVANCE. AIO Life Seminar November 2010 Tour of Africa : Southern Africa Craig Falconer (Africa Interaction Committee.
PRESENTATION ON THE NQF BILL TO THE PORTFOLIO COMMITTEE ON EDUCATION The South African Institute of Chartered Accountants 30 JULY 2008.
Country example - The Czech Republic Promoting Life-long Learning - System of Recognition of Qualifications National System of Qualifications.
Australian Qualifications Framework (AQF) Sets out the level of qualification available at each stage of education Determines the competencies require.
DAVID J RANSOM FCII Chartered Insurance Practitioner COPYRIGHT © DAVID J RANSOM FCII.
1 Other regulatory updates Town Hall Meeting June 2013 Adri Messerschmidt.
1 Some better known ‘challenges’ the industry has faced…  Storm Financial  Opes Prime  CBA  NAB  Macquarie…  Westpac & ANZ.
Higher School Certificate Requirements and Students with Special Education Needs Key Messages NSW Education Standards Authority.
INSETA SDP SESSION APRIL 2016 QCTO UPDATE.
“THE STATE OF THE MARKET – FAIS COMPETENCY AND CPD”
Level 2 Diploma in Customer Service
Setting standards for the profession of counselling / psychotherapy
FAIS Fit & Proper Regulatory Examinations Levels I & II
2 June 2017 Fidelity Conference Centre Florida
PRESENTED BY ING. EBENEZER K. HAIZEL
FAIS FIT & PROPER BEYOND 2009…
Continued Professional Development
The National Plant Operators Registration Scheme
CPD Summary Guide 2018 Version:3.1.
Certified Information Technology Professional (CITP) Credential
PGCE POST COMPULSORY EDUCATION
Choosing an accountant & a Virtual Finance Director
PRESENTATION ON THE AMENDMENTS TO THE SKILLS DEVELOPMENT ACT TO THE PORTFOLIO COMMITTEE ON LABOUR 30 July 2008.
Presentation transcript:

Competence Experience Qualifications Regulatory Exams CPD

Source: BN 106 and substituted by BN 60 of 2010 One subcategoryAdvice minimum ExperienceServices Minimum Experiences Long term Insurance sub cat A 6 months2 months Short term Insurance Personal Lines 1 year6 months Long term Insurance sub cat B1 and B2 1 year6 months Long term Insurance sub cat C 1 year6 months Retail Pension benefits 1 year6 months Pension Fund Benefits 1 year6 months Securities and instruments Shares, Money market Debentures Warrants Derivatives Collective investments Forex 2 years1 year

Identify whether classified as part of transitional arrangements or as new entrant – (see BN 104) May select further qualifications from qualifications list and complete relevant qualification within 5 years of appointment Reps must meet qualifying criteria published in subordinate legislation. FAIS Registrar published list of “recognised qualifications” for each category and subcategory Source: Board Notice 106

Product specific Regulatory Exam and exemptions depending on qualifications Qualifications not listed may gain recognition by making application which MAY be added to qualification list Entry level requirements for each License Category FAIS Registrar published list of “recognised qualifications” for each category and subcategory Source: BN 104 and 106

RE 1 will deal with core legislation applicable on FSP, representatives and Key Individuals Registrar and Advisory Committee appointed Examining Bodies Rules set for setting, examining, marking and moderating exams RE 1 must be completed 2 years after date of 1 st appointment RE 2 must be completed 6 years after date of 1 st appointment Reps can be appointed without completing RE 1 but must work under supervision Test factual knowledge of examinees on rendering financial services applicable to categories or subcategories Reps to meet 1 st and 2 nd level exams 2 nd level exams are product specific relevant to category or sub-category

Not completing CPD notional hours will result in debarment SETA is Sector Education Training Authority Accredited provider means provider of occupational learning programs Professional skills are abilities required to apply professional knowledge CPD must be verified by provider of CPD program Between 15 and 60 hours of notional learning every 3 years Process of learning and development to enable FSP, KI, Rep to perform competently in licensed categories and subcategories Conferences, courses, seminars, workshops, product seminars Professional knowledge - subjects related to financial services industry