Product Specific Training
FSPs are reminded that Product Specific Training must be completed prior to rendering any financial service in respect of a particular financial product, which must include keeping up to date with any changes or amendments to financial products. The COVID-19 pandemic may result in product providers reconsidering benefits and/or exclusions in respect of certain products. FSPs are urged to keep track of these and any other changes and ensure that the necessary training is provided to FSPs and Representatives where relevant. Also remember to update the Competence Register within 15 days of such training.
CPD
FSPs, KIs and Reps are reminded that they should be on track with achieving the required number of hours which evidences their continuous professional development (CPD) in the industry. For the 2020/2021 CPD cycle, an FSP, KI or a Rep that is authorised, approved or appointed to render or manage or oversee the rendering of financial services in respect of:
- a single subclass of business within a single class of business will be required to complete a minimum of 4 and a half hours of CPD activities.
- more than one subclass of business within a single class of business will be required to complete a minimum of 9 hours of CPD activities.
- more than one class of business will be required to complete a minimum of 13 and a half hours of CPD activities.
The deadline to meet the minimum number of required CPD hours is 31 May 2021. Should you require more information on the various approved CPD activities that Masthead offers, please get in touch with us on info@masthead.co.za or contact your Masthead Compliance Officer.