FAIS Act for key individuals and representatives

The Faculty of Law is proud to present the following new short programmes in 2010:

The Financial Services Board published its latest “fit and proper” requirements on 29 December 2008. From now on, key individuals and compliance officers will have to sit for an exam in order to demonstrate that they comply with the said requirements as set out in the FAIS Act.

• This short programme is presented bi-annually from February to June and from July to November. Contact tuition is condensed into a five day programme (Early February and early July, from 8:30 – 16:30).
  
• The FAIS Act is presented in such a way so as to equip students to not only to prepare for their statutory exams but to allow them to have a better understanding of their tasks as compliance officers and key individuals.
  
• Topics covered include: an historical overview and introduction to FAIS; Conceptual and legal framework pertaining to key individuals and representatives; Regulatory environment; Compliance functions; Licensing conditions; Record keeping, infrastructure of the FSP, accounting requirements, FICA and the FAIS ombud and Financial products.
  
• This unique programme not only presents an ideal opportunity for key individuals and compliance officers to prepare for their statutory exams, but also allows them to engage with others in the field and invites participants to share their experiences and to debate policy and other issues.

THE BASICS OF SHORT TERM INSURANCE

Short-term insurance business entails the business of providing policy benefits under defined short-term policies such as engineering policies, liability policies, accident and health policies, property or transportation policies.

The Financial Services Board published their latest “fit and proper” requirements on 29 December 2008. Representatives performing financial services in relation to Short-term Insurance: Personal Lines and Short-term Insurance: Commercial Lines will shortly be required to pass a second level regulatory examination based on certain qualifying criteria.

• This particular programme was developed in order to assist representatives to master the outcomes as prescribed by the Regulator.
  
• The short programme is presented bi-annually from January to June and from July to November. Contact tuition is condensed into a five day programme (Early February and early July, from 8:30 – 16:30).

Topics covered relate to the historical background and sources of insurance, general principles of Short-term Insurance, conclusion and content of an insurance contract, elements of the client/broker relationship, maintaining policies, claims processing, recovery and mitigation of losses and liability of intermediaries and dispute resolution.

ENQUIRIES

Tel: 011 559 3739/3631. Email: [email protected]; [email protected]

Closing date: 25 November 2009 (1st intake); 15 May 2010 (2^nd intake)

www.uj.ac.za