CPD Accreditation detail

CPD Accreditation Body/Professional Body: Institude of Bankers South Africa
Number of CPD hours: 2 CPD hours
Programme registration number: IOB194

The module will aim to :

• Enable a learner to understand what the difference is between Advice and Intermediary Services and what the requirements are for delivering these services.
• Explain the requirements in terms of Sections 6, 7 and 13 of the FAIS Act, which establish the requirements for Representatives to be Fit and Proper, and BN 194 which sets out the details of the F&P requirements.

The following outcomes will be achieved:

• Understand how the FAIS Act and the associated regulations and requirements go together and fit into the financial sector laws.
• Understand the purpose of the FAIS Act and the licencing of Financial Services Providers.
• Define advice, and what is excluded from “advice”.
• Define intermediary services, and what is excluded from intermediary services.
• Be able to review “financial products” in FAIS terms.
• Identify who will act as representatives, and people who do not have to be representatives for FAIS purposes.
• Be able to - In the context of YOUR licence to practically define:
  • what is advice and what isn’t.
  • when does an employee need to be a representative.
  • how your documentation, processes and role players meet the requirements.