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COB Training Fee 2020

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The fee per Class of Business is R595 VAT inclusive.

Fees are calculated on a sliding scale according to the number of courses subscribed to.

For corporate groups; the total number of courses subscribed to for the group is considered when awarding discount

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FAQ

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All representatives appointed on or from 1 April 2018 has 12 months from date of first appointment to complete the relevant Class of Business training.

Representatives working under supervision on 1 April 2018 has until 31 July 2019 to complete the Class of Business training.

Key individuals must complete the relevant Class of business training before approval will be granted by FSCA.

Representatives providing financial services in terms of Tier 2 products are exempted from the COB training requirement.

Key individuals in Long-term insurance A and Friendly Society Benefits are exempted from the COB training requirement.

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The COB which you must complete depends on the categories for which the key individual or representative are authorised in.

 

Code Cat I	Code Cat II/IIA	Product category	Class of business training to complete
1.1	N/A	Long-term insurance: Subcategory A	N/A: Exempted
1.2	N/A	Short-term insurance: Personal lines	Class 1: Short-term insurance: Personal lines
1.3	2.1	Long-term insurance: Subcategory B1	Class 3: Long-term insurance
1.4	2.2	Long-term insurance: Subcategory C	Class 3: Long-term insurance
1.5	2.3	Retail pensions benefits	Class 7: Investments
1.6	N/A	Short-term insurance: Commercial lines	Class 2: Short-term insurance: Commercial lines
1.7	2.4	Pension fund benefits	Class 4: Pension fund benefits
1.8	2.5	S & I: Shares	Class 7: Investments
1.9	2.6	S & I: Money market instruments
1.10	2.7	S & I: Debentures and securitized debt
1.11	2.8	S & I: Warrants, certificates and other instruments acknowledging debt
1.12	2.9	S & I: Bonds
1.13	2.10	S & I: Derivative instruments excluding warrants and a forex investment
1.14	2.11	Collective investment schemes	Class 7: Investments
1.15	2.12	Forex investment business	Class 8: Forex investments
1.16	N/A	Health service benefits	Class 9: Health Services Benefits
1.17	2.13	Long-term deposits	N/A: Exempted
1.18	2.14	Short-term deposits	N/A: Exempted
1.19	N/A	Friendly society benefits	N/A: Exempted
1.20	2.15	Long-term insurance: Subcategory B2	N/A: Exempted
1.21	2.16	Long-term insurance: Subcategory B2-A	N/A: Exempted
1.22	2.17	Long-term insurance: Subcategory B1-A	N/A: Exempted
1.23	N/A	Short-term Insurance Personal lines A1	N/A: Exempted
1.24	2.18	Structured deposits	Class 6: Structured deposits
1.25	2.19	Securities and instruments	Class 7: Investments
1.26	2.20	Participatory interest in a CIS hedge fund	Class 7: Investments

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