- FAIS CPD: As per continuous professional development fit and proper requirements in the Financial Advisory and Intermediary Services Act 37 of 2002.
- Product Specific Training: As per competence fit and proper requirements in the Financial Advisory and Intermediary Services Act 37 of 2002. In terms of Board Notice 194 of 2017 Determination of Fit and Proper Requirements for Financial Services Providers, a representative must complete product specific training, prior to the rendering of any financial service in respect of a particular financial product. Key individuals and representatives (not under supervision) on the register on 1 April 2018 are deemed competent in respect of product specific training but only in respect of the products applicable to them on 1 April 2018. Our sessions are accredited by the IISA should you be a member and require CPD hours for their professional standards. We highly recommend that all representatives of financial services providers that place business with us undertake our product specific training despite regulatory exemptions.
- Class of Business Training: As per competence fit and proper requirements in the Financial Advisory and Intermediary Services Act 37 of 2002. In terms of Board Notice 194 of 2017 Determination of Fit and Proper Requirements for Financial Services Providers, a representative must complete class of business training, prior to the rendering of any financial service in respect of a particular financial product. Key individuals are required to complete class of business training prior to managing or overseeing a financial service in respect of the relevant class of business.
IMPORTANT: Your responsibilities relating to training
Product Specific Training:
- A FSP must ensure that its key individuals and representatives have completed class of business training and product specific training.
- A FSP must within 15 days after the training had occurred, record it in their training register and retain for not less than 5 years after FSP/representative/key individual ceases to render/manage financial services in respect of that product.
- A FSP must within a reasonable time after being requested to do so by a product supplier, provide confirmation that it’s representatives have obtained requisite class of business and product specific training, where the product supplier requires the confirmation in order to ensure compliance with its own legal obligation.
- A FSP, key individual and representative must comply with CPD requirements and ensure that activities undertaken are relevant to their business.
- A FSP must establish policies and procedures to ensure that its representatives and key individuals maintain and update their knowledge and skills, and ensure that training plans are in place for each CPD cycle.
- A FSP must maintain a training register containing the CPD activities of the FSP, its key individuals and representatives. The total number of CPD hours obtained per person must be calculated and evidence of CPD activities must be recorded. The evidence of CPD activities must be retained for a period of five years from the end of the CPD cycle concerned.
Camargue will send a confirmation of attendance/completion of our training sessions. Please ensure that these are sent to the relevant person at your FSP responsible for maintaining the training register.
• CPD accreditation is allocated only once per year for a training event – but nothing stops you from attending the same course repeatedly.
• Please ensure that you bring a valid driver’s licence or ID when registering to obtain CPD hours.
• Please ensure that you have been signed in and out to earn CPD hours.