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Fit and Proper

Fit and Proper

Fit and Proper

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Fit and proper

Invitation to comment on the proposed amendments to the determination of fit and proper requirements for financial services

The main purpose of the proposed amendments is to provide for the alignment to the new authorisation classes of insurance business and aligment to the terminology of the Insuarnce Act, 2017.

The aim is to ensure service providers are able to provide insurance policies whether licensed as LTI or STI under Insurance Act. Submissions close on June 1, 2018. 

 

Invitation to comment on the proposed amendments 

 

Update of regulatory examinations

The purpose of this information circular is to provide information on the version update of the regulatory examinations with respect to:

  • RE1: Regulatory Examination: FSPs and Key
  • ­RE5: Regulatory Examination: Representatives in all categories of FSPs

­   
According to the updated version of the RE1 and RE5, persons who registered to write the regulatory examination on or after Tuesday, 03 April 2018 are obliged to write the new version of the regulatory examination, which will contain the updated questions. Also persons who write the level 1 regulatory examination on or after Tuesday, 03 April 2018, must ensure that they use updated preparation material that is aligned with the qualifying criteria in Annexure Four of Board Notice 194 of 2018. 

 

FINANCIAL SERVICES BOARDFINANCIAL ADVISORY AND INTERMEDIARY SERVICES ACT, NO. 37 OF 2002: Update of Regulatory Examinations

© 2018 KPMG Services (Pty) Limited, a South Africa private company and a member firm of the KPMG network of independent member firms affiliated with KPMG International, a Swiss cooperative. All rights reserved.

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