Moonstone: Study material for regulatory exams

A burning issue for most FSPs, judging by the enquiries we receive, concerns study material for the regulatory exams. This has now been addressed in a press release on the Inseta website:

INSETA has agreed to fund the development of learning material for the FSB's Regulatory Exams (RE), and the contract to do the development has been awarded to a Joint Venture between Milpark Business School and the IISA.

AnINSETAIndustryFAIS Advisory Committee, consisting of industry representatives, was established to advise INSETA on the sector's needs for compliance with the new Fit and Proper Requirements, resulting in the decision to create learning material for the REs. Initial focus will be on the Level 1 exams, as thedeadline for Financial Advisors appointed or approvedbetween 2004 and 2009to complete the exam is 30 November2011, asspecified by the FSB.

The provider will also review the material and update it wherever necessary.

The material will be made available free of charge on the Inseta websiteto all industry stakeholders. Below are the provisional dates agreed with the provider for release of the learning material:

Learning Material Available		Date
RE 4	RE Level 1 - Representatives	15-Apr-10
RE 1 and 2	RE Level 1 – Key Individuals CAT I and II/IIA	17-May-10
RE 3	RE Level 1 – Key Individuals CAT III	04-Jun-10
RE 5	RE Level 2 – Long Term Category A and Category IV	10-May-10
RE 6	RE Level 2 – Short and Long Term Deposits	21-May-10
RE 7	RE Level 2 – Long Term Category B, C and Retail Pensions	To be confirmed
RE 8	RE Level 2 – Participatory Interests in Collective Investment Schemes	09-Jul-10
RE 9	RE Level 2 – Securities and Instruments	06-Aug-10
RE 10	RE Level 2 – Short Term Insurance Personal Lines	25-Jun-10
RE 11	RE Level 2 – Short Term Insurance Commercial Lines	25-Jun-10
RE 12	RE Level 2 – Health Care Benefits	02-Jul-10
RE 13	RE Level 2 – Pension Fund Benefits	09-Jul-10
RE 14	RE Level 2 – Long Term Category A – FAB (Funeral Assistance Business)	10-May-10

Sandra Dunn, INSETA CEO, says that INSETA is proud to partner with the sector in addressing the industry's most critical needs, as all Advisors in all of the sub-sectors are affected by the REs, and this project will reduce the costs of training, and assist inthe learning process.

Second prize, after availability, is the fact that it is free and available on a public platform.

We have not had time to study the content, but given the track record of the institutions involved, are confident that it will be of a high standard.

At the time of publication we could not find the information on the website, nor discover where it would be placed. We will do the homework and supply the link next week.

The Inseta website is http://www.inseta.org.za/. May we suggest that you add it to the "favourites" section? You are going to access this regularly!