Page 28 - Profile's Unit Trusts and Collective Investments 2021 issue 2

How to use this book

The FET and NQF references in the chapter should be read in the context “this information
relevant to unit standard 242612 outcome 2” (for example). The NQF references do not imply
that an associated paragraph or section fulfils the outcome requirements. In some cases –
especially where NQF requires a case study – additional work and research must be done.

Board Notice 194 of 2017, published in December 2017, replaces earlier versions of the
Registrar’s Determination of Fit and Proper Requirements for FSPs and defines revised CPD
requirements. Individuals rendering services across more than one class of business must
complete at least 18 CPD hours per annum; those providing services across more than one
subclass within a single class of business, at least 12 hours per annum; and at least 6 hours per
annum where the individual focuses on one subclass. Subject to certain exemptions (such as
Category I long-term insurance reps), the new Fit and Proper CPD requirements apply to all FSPs,
key individuals and representatives.
In terms of section 32 of the regulations, FSPs are responsible for ensuring that key individuals
and representatives receive relevant and appropriate CPD training. FSPs must also maintain
competence registers and evidence of CPD activities.
Note that FPI membership requires 35 CPD points. The FSCA CPD requirements are covered
by FPI CPD where the FSP is a professional member of FPI and has completed the necessary FPI
CPD requirements.
By reading this publication, FPI members, in compliance with the FPI CPD Policy and
Membership Regulations, may claim CPD points under the abovementioned category.
Preparation Map for Specific Unit Standard Outcomes

Unit Std 242584: FAIS knowledge and insight (NQF 04, 2 credits)
Chp 1 Chp 2 Chp 3 Chp 4 Chp 5 Chp 6 Chp 7 Chp 8 Chp 9
Outcome
1 Purpose of FAIS x
2 FAIS licensing requirements x
3 Enforcement
x
4 FAIS industry effects x
Unit Std 242593: Implications of SA money laundering legislation (NQF 04, 3 credits)
Chp 1 Chp 2 Chp 3 Chp 4 Chp 5 Chp 6 Chp 7 Chp 8 Chp 9
Outcome
1 Purpose of the legislation x
2 Accountable institutions x
3 Recording and reporting x
4 Impact of non-compliance x
Unit Std 242594: Asset classes and financial advice (NQF 05*, 4 credits)
Chp 1 Chp 2 Chp 3 Chp 4 Chp 5 Chp 6 Chp 7 Chp 8 Chp 9
Outcome
1 Assets classes and roles x x x
2 The investment environment x x
3 Impact of market conditions x x x
4 Risk profile a client x x
Unit Std 242595: Apply knowledge and insight of alternative investments (NQF 06*, 8 credits)
Chp 1 Chp 2 Chp 3 Chp 4 Chp 5 Chp 6 Chp 7 Chp 8 Chp 9
Outcome
1 Knowledge and insight
x x x x x x
2 Commonly available alternative investments x x x
3 Structuring of financial instruments x x x x
4 World trends and market forces x x x

26 Profile’s Unit Trusts & Collective Investments — Understanding Unit Trusts