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Impact of FAIS Notice on FAIS regulatory exams

Publish date: 11 January 2019
Issue Number: 53
Diary: CompliNEWS
Category: General

Regulatory changes have always had a huge impact on the content of the Regulatory Exams.

The latest FSCA FAIS Notice 86 that comes into effect on 1 February 2019 is no exception.

Compli-Serve notes that, due to the publication of new requirements and regulations for supervision which come into effect on 1 February 2019, the RE 5 exams and content contained in plain language study material will be changed and updated.

The Moonstone Examination Body notes in a press release that candidates need to take note of the following:

Candidate 1:

'I am writing my RE 1 or RE 5 exam on or before 31 January 2019'.
The Preparation Guide, Version 14 (Released on 1 December 2018) is valid for examinations written up to 31 January 2019.

Candidate 2:

'I am writing my RE 1 or RE 5 exam on or after 1 February 2019'.
The RE 1 and RE 5 Preparation Guide (inclusive of FSCA FAIS Notice 86 of 2018) is applicable for examinations written as from 1 February 2019 onwards, as it includes the revised supervision requirements.

If you are writing before 1 February 2019:
The Preparation Guide, Version 14 (Released on 1 December 2018)

If you are writing after 1 February 2019:
RE 1 and RE 5 Preparation Guide (inclusive of FSCA FAIS Notice 86 of 2018

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Working Smart

By Lee Rossini

Corporate Social Responsibility (CSR) refers to a company's commitment to manage its operations in an ethical, sustainable and socially conscious way. It involves going beyond the pursuit of profits to consider the impact of business decisions on people, the environment and society at large. CSR can cover a broad range of activities, from reducing carbon emissions, reducing unnecessary waste and ethical labour practices to community engagement and transparent governance. While CSR is often associated with large multinational corporations, its principles are just as relevant – and increasingly expected – in small businesses, including financial advice businesses.

CPD

Subscribers are reminded that they can complete monthly CPD quizzes and claim CPD hours before the 31 May 2025 deadline. View the CPD FAQs for more on accessing the CPD quizzes.

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