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

TABLE 1

TABLE 1: EXPERIENCE REQUIREMENTS FOR AND IN RELATION TO CATEGORY I FSPs

Column A

Financial products

Column B:

Minimum Experience

2.1

Long-term Insurance subcategory B1

2 years

2.2

Long-term Insurance subcategory C

2 years

2.3

Retail Pension Benefits

2 years

2.4

Pension Fund Benefits

2 years

2.5

Shares

3 years

2.6

Money market instruments

3 years

2.7

Debentures and securitised debt

3 years

2.8

Warrants, certificates and other instruments

3 years

2.9

Bonds

3 years

2.10

Derivative instruments

3 years

2.11

Participatory Interests in a collective investment scheme

2 years

2.12

Forex Investment

3 years

2.13

Long-term Deposits

1 year

2.14

Short-term Deposits

1 year

2.15

Long-term Insurance subcategory B2

2 years

2.16

Long-term Insurance subcategory B2-A

2 years

2.17

Long-term Insurance subcategory B1-A

2 years

2.18

Structured Deposits

3 years

2.19

Securities and instruments

3 years

2.20

Participatory interest in a CIS hedge fund

3 years