Financial Advisory and Intermediary Services Act, 2002 (Act No. 37 of 2002)

Board Notices

Exemption in respect of Services under Supervision in terms of Requirements and Conditions, 2008

3. Extent of exemption
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An authorised financial services provider is, in respect of a representative, exempted from the obligations under section 13(2)(a) of the Act regarding-

(a)the experience requirements required in terms of paragraph 4(1)(b), (2)(b), (3)(b), (4)(b) and (5)( b) of the Determination of Fit and Proper Requirements, 2008;
(b)qualifications in terms of paragraph 5(1) (d) and (2)(d) of the Determination of Fit and Proper Requirements, 2008:
(c)the first and second level regulatory examinations referred to in subparagraphs (2)(c) and (3)(c) of paragraph 6 of the Determination of Fit and Proper Requirements, 2008 ; and

[Paragraph 3(c) substituted by section 3(a)(i) of Board Notice 260 of 2013, dated 19 December 2013]

(d)the Continuous Professional Development Requirements in terms of paragraph 7(1) of the Determination of Fit and Proper Requirements, 2008:

Provided such provider complies with the requirements and conditions in paragraph 4 below.