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

Qualifications, Experience And Criteria For Approval As Compliance Officer

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 sub-section (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 Table A and at least one of the subjects must be-
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.

 

Table A: Subjects

 

SUBJECTS

Accounting

Financial Planning

Auditing

Financial/Securities Markets

Business Assurance

Fraud Risk Management

Business Economics

Health Care Benefits

Business Environment

Informatics

Business Finance

Insurance

Business Information Systems

Interpretation of Statutes

Business Integration

Law of Contract or Delict

Business Management

Legal Environment

Commercial Law

Mercantile Law

Companies Law

Money Laundering Control

Compliance Management

Network Administration

Computer Architecture

Process Management (Process Modeling and Control)

Corporate Finance

Retirement Planning

Corporate Governance

Risk Management

Estate and Trust Law

Strategic Communication Management Skills

Estate planning

Strategic Management

Finance

Strategy

Financial Management

Wealth Management