4.4 Continuous Professional Development

An FSP must establish and maintain policies and procedures on Continuous Professional Development that include how the FSP, key individual and representative will- Maintain knowledge and skills that are appropriate for their activities and responsibilities.Update...

4.3 Competence Register

An FSP must establish, maintain and update on a regular basis a competence register in which all qualifications, successfully completed regulatory examinations, product specific training class of business training and CPD activities of the FSP, key individuals and...

4.2 General Requirements

The amended fit and proper requirements prescribe that an FSP, key individual and representative must- Have adequate, appropriate and relevant knowledge and expertise in respect of financial services, financial products and functions that it performs.Comply with the...

4.1 Introduction

Board Notice 194 of 2017 also introduced responsibilities in relation to the competency requirements of representatives and key individuals. There responsibilities are part of the on-going licensing responsibilities of a financial services provider and failure to meet...

3.7 Summary of Exemptions to Requirements

The table following summarized the exemption applicable to the fit and proper requirements. Fit and proper requirementExemption applicableProduct specific trainingCategory II representativesClass of business trainingKey individuals in Long-term insurance A &...