Competence Requirements - Class of business training
Frequently Asked Questions
“What is this class of business and how does it affect me as a key individual and representative?”
Class of business training is a requirement that was introduced by the FSCA through Board Notice 194 of 2017. In general, it refers to training that focuses on a range of products that falls within pre-defined classes of business as well as the various characteristics and how they relate or function within the industry. The amended Fit and Proper determination define class of business as:
“training referred to in section 29(4) in respect of a class of business and which training is provided and assessed by an accredited provider or an education institution”.
In the following document, we answer some of the more frequently asked questions surrounding this topic in more detail: FAQ - Class of business
Should you have any further questions about the class of business training requirements you are welcome to submit questions to the FSCA at Fitandproper@fsca.co.za