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

Determinations

Amendment of the Determination of Fit and Proper Requirements, 2020

Chapter 3 : Competence Requirements

Part 2 : Minimum experience

15. General experience requirement
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(1)An FSP and representative must have adequate and appropriate experience in the rendering of a particular financial service in respect of a—
(a)particular financial product; and
(b)particular category of FSP,

for which it is authorised or appointed or in respect of which authorisation or appointment is

sought.

 

(2)A key individual must have adequate and appropriate experience to manage or oversee the rendering of a particular financial service in respect of a particular category of FSP for which it is approved or in respect of which approval is sought.