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

Exemption in respect of Services under Supervision in terms of Requirements and Conditions, 2008

3. Extent of exemption

 

 

An authorised financial services provider is, in respect of a representative, exempted from the obligations under section 13(2)(a) of the Act regarding-

a) the experience requirements required in terms of paragraph 4(1)(b), (2)(b), (3)(b), (4)(b) and (5)( b) of the Determination of Fit and Proper Requirements, 2008;
b) qualifications in terms of paragraph 5(1) (d) and (2)(d) of the Determination of Fit and Proper Requirements, 2008:
c) the first and second level regulatory examinations in terms of paragraph 6(2)(c) and (3)(c) of the Determination of Fit and Proper Requirements, 2008 ;

and

d) the Continuous Professional Development Requirements in terms of paragraph 7(1) of the Determination of Fit and Proper Requirements, 2008:

Provided that the provider must comply with the requirements and conditions set out in paragraph 4 below.