Acts Online
GT Shield

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

Determination of Continuous Professional Development Requirements, 2008

Part V : Keeping of Records and Reporting

 

 

5. The requirements regarding keeping of records and reporting:

 

1) FSPs (who are sole proprietors), key individuals and representatives are required to confirm that they have complied with the CPD requirements by way of self-certification annually.

 

2) FSPs (who are sole proprietors), key individuals and representatives are required to retain verifiable proof of the CPD programmes and activities they participated in for a period of five (5) years after completion; and key individuals and representatives are required to provide copies of such documentary proof to the financial services provider on a quarterly basis.

 

3) FSPs (who are sole proprietors), key individuals and representatives are required to log CPD activities using the on-line CPD register of the Financial Services Board, and must provide-
a) title and date of activity/programme;
b) institution providing the CPD activities; and
c) number of learning hours.

 

4) An FSP or compliance officer involved will be required to report to the Registrar on the CPD activities undertaken by the key individual(s) and/or representative(s), and the reporting requirements will be included in the annual compliance report submitted by the providers.

 

5) Compliance officers of FSPs are required to report on the sample used to determine the accuracy of the reporting in terms of CPD conducted by the FSP, and the findings of such sample testing in the compliance report.