teamwlogoThe “new” Determination of Fit and Proper requirements with regards to competency as detailed in the Financial Advisory Intermediary Services Act 37 of 2002, introduced to the financial planning industry, Regulatory Examinations.  There is little doubt that these Regulatory Examinations will have a large impact on professionalism in the financial services industry.

First level Regulatory Exams are compulsory for all Key Individuals and Representatives and ensure that advisers understand the regulatory environment in which they operate.  The exams are based on the regulatory framework and the regulatory role of the individual, more specifically the FAIS Act, Code of Conduct and Board Notices, as well as FICA.

These exams carry a 65% pass mark and need to be completed by June 2012.

Lisa and Angela both wrote their Key Individual and Representative exams in August.  We are proud to announce that they passed with above 80% for each exam.