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

Board Notices

Amendment on Qualifications, Experience and Criteria for the Approval as a Compliance Officer, 2015

Part  VI

7. Criteria for recognition of a specific and generic compliance qualification

 

(1) A qualification, to be recognised as a specific qualification, must be—
(a) a qualification registered by SAQA; or
(b) an extracurricular specialist programme offered at a post-graduate level by an Institution of Higher Education.

 

(2) A qualification referred to in subsection (1) must—
(a) in respect of non-unit standards based qualifications, the qualification must correspond with at least 80% of the qualifying criteria; or
(b) in respect of unit standards based qualifications, at least 80% of the relevant qualifying criteria is met by the core and elective unit standards of the qualification.

 

(3) A qualification, to be recognised as a generic qualification, must be-
(a) a qualification registered by SAQA;
(b) an extracurricular specialist programme offered at a post-graduate level by an Institution of Higher Education;
(c) an industry or professional programme offered through a professional body recognised by the Registrar or an accredited training provider; or
(d) a foreign qualification that is similar to a qualification referred to in subparagraphs (a) to (c).

 

(4) A qualification referred to in sub-section (3) must-
(a) in respect of non-unit standards based qualifications. the individual must have successfully completed a minimum of three subjects listed in Annexure 3, or subjects that are similar in subject matter to those so listed, and at least one of the subjects must be—

[Section 7(4)(a) substituted by section 3(a) of of Notice 2815, GG47632, dated 2 December 2022]

(i) in the field of commerce, corporate governance or law; and
(ii) a major subject on final year level, where applicable; or
(b) in respect of unit standards based qualifications, at least 60% of the qualifying criteria is met by the core and elective unit standards of the qualification.

 

[Section 7(4) Table A deleted by section 3(b) of of Notice 2815, GG47632, dated 2 December 2022]