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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

Working Smart

By Lee Rossini

Selecting, recruiting and onboarding a new employee takes time and resources.  Once settled and integrated into the business, employees develop the skills required to carry out the work effectively, they become an important part of the team, they contribute positively to the corporate culture and their institutional memory is deepened.  For these reasons, short-stay employees should be avoided.  The question is how to motivate employees to stay over the long term especially when faced with some of the challenges in the financial advice arena?  Motivation is a force that energises behavior, gives direction to behavior, underlies the tendency to persist, even in the face of one or more obstacles (Warnich, Carrell, Elbert and Hatfield, 2015). 


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