Financial Advisory and Intermediary Services Act 2002 (Act No. 37 of 2002)DeterminationsAmendment of the Determination of Fit and Proper Requirements, 2020Chapter 1 : Interpretation, Purpose and Application of Determination4. Fit and proper requirements |
| (1) | The fit and proper requirements for each of the categories of FSPs, key individuals and representatives are— |
| (a) | personal character qualities of honesty and integrity, as set out in Chapter 2; |
| (b) | good standing, as set out in Chapter 2; |
| (c) | competence, as set out in Chapter 3; |
| (d) | continuous professional development, as set out in Chapter 4; |
| (e) | operational ability, as set out in Chapter 5; and |
| (f) | financial soundness, as set out in Chapter 6. |
| (2) | To qualify for authorisation, approval or appointment as an FSP, key individual or representative a person must comply with the fit and proper requirements to the extent applicable to FSPs, key individuals and representatives in the relevant categories. |