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


Determination of Fit and Proper Requirements for Financial Services Providers, 2017

Chapter 3 : Competence Requirements

Part 2 : Minimum experience

Minimum experience requirements per Category of FSPs

17. Category I FSPs


(1) A Category I FSP and its representatives must in relation to the financial products listed in Column A of Table 1 in Annexure One have the minimum experience listed in column B and/or C of that Table in respect of the particular financial services for which it is authorised or appointed or in respect of which authorisation or appointment is sought.


(2) A key individual of a Category I FSP must have at least one year’s experience in the management or oversight of the rendering of a particular financial service by a Category I FSP.