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Member notice | FIA Training and workshops CPD accredited events

ARTICLE BY

  • Joe Kotze

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The Education and Training Committee of the FIA is finalising training and workshops for our members that will also be accredited for CPD requirements. The purpose of these workshops is to ensure that our members fully understand the interpretation, purpose and application of the new Determination of Fit and Proper Requirements for Financial Services Providers as published in Board Notice 194 of 2017.

The FIA Board approved this training intervention to ensure that our members remain fully compliant with the Fit and Proper competence requirements in support of the mission critical factors of the FIA which include supporting the relevance and sustainability of our members and enhancing membership value.

The first obligatory CPD cycle in terms of the Fit and Proper Requirements starts on 1 June 2018 and ends 31 May 2019. Most members will have to complete at least 18 hours of CPD accredited interventions during this cycle.

The FPi has approved a program on the new Fit and Proper Requirements and allocated 2 hours of CPD accreditation towards this workshop. As soon as the Education and Training Committee and ultimately the FIA Board approve our plans, including a fee our members and non-members will be charged for these workshops, we will communicate extensively to all members. We will, as far as possible, host these workshops at branch level.

The first workshop will be conducted by Joe Kotzé, FIA National Manager: Compliance, and will cover the following:

  • FSCA mandate
  • FAIS Act section 8A/9
  • Definitions
  • Fit and Proper requirements
  • Honesty, integrity, good standing
  • Competence
  • Experience
  • Minimum qualifications
  • Regulatory examinations
  • Training
  • Continuous professional development
  • Operational ability
  • Financial soundness
  • Transitional provisions

We are also considering service offerings by accredited providers to compliment the FIA training program that will include face-to-face training and workshops as well as online training that will be accredited for CPD purposes. These service offerings contain an element of discounted rates for FIA members to ease the financial burden brought about by compulsory CPD requirements. These accredited training providers also incorporate systems that will assist with the obligatory competence record keeping requirements placed upon FSPs.

Please note:

CPD events must be verifiable which means that attendees will have to identify themselves by means of an ID, driving license or passport. Attendees must also sign an attendance register at entrance and at the conclusion of the workshop. This is necessary to issue a CPD certificate of attendance for recordkeeping purposes by all FSPs, as prescribed by the Board Notice.


We will soon provide more information on how members can go about planning for these events. Members are welcome to contact Joe Kotze (email or 012 665 0085) if there is any matter that needs further clarification.

Subscriber Terms and Conditions

  1. APPLICATION OF TERMS
    • These terms and conditions (“Subscriber Terms”) apply to the subscription by any qualifying member of the South African Underwriting Managers Association NPC (“SAUMA”) to the services and benefits offered by FIA Services (Pty) Ltd (“FIA Services”) under the SAUMA affiliation arrangement (“Subscription”).

  2. NATURE OF SUBSCRIPTION
    • A Subscription under this arrangement:
      • does not constitute membership of FIA NPC;
      • does not confer any voting rights or governance participation in FIA NPC; and
      • is governed solely by the contractual relationship between the Subscriber and FIA Services.

  1. ELIGIBILITY
    • To qualify for the Subscription, the applicant must, at the time of application, be a current paid-up member of SAUMA.
    • FIA Services will verify the applicant’s SAUMA membership status with SAUMA prior to activation, and may re-verify such status periodically.
    • If a Subscriber ceases to be a paid-up member of SAUMA, the Subscription will correspondingly be terminated.
    • Applicants are required to authorise FIA Services to confirm their SAUMA membership status with SAUMA as part of the application process.

  1. SERVICES
    • The Subscription entitles the Subscriber to the following benefits:
      • Complimentary access to the FIA CPD Platform;
      • Complimentary access to the FIA Insight Magazine (digital edition);
      • Advertising opportunities on FIA platforms at a discounted rate of 15% (fifteen percent) off the prevailing published rates; and
      • Invitations to attend FIA Technical Webinars annually.
    • FIA Services reserves the right to update, vary or substitute the Services from time to time, provided that the overall value and nature of the benefits remain materially the same.

  1. FEES AND PAYMENT
    • The monthly subscription fee is R260.00 (two hundred and sixty rand) for up to seven registered individuals (Key Individuals and Representatives), and R36.00 (thirty-six rand) per additional registered individual thereafter, excluding VAT.
    • The Subscriber shall provide FIA Services with the required details of each individual to be registered under the Subscription for the purposes of activation and billing.
    • All fees are exclusive of VAT, which shall be charged at the prevailing statutory rate.
    • Subscription fees are reviewed annually in March and may be adjusted with effect from 1 April.
    • Any changes to the Subscription, including but not limited to the number of Representatives and Key Individuals registered under the Subscription, may only be effected once annually during the annual review period in March of each year, with such changes taking effect from 1 April.
    • Subscription fees shall be billed monthly in arrears, unless the Subscriber elects an annual billing cycle at the time of application.
    • The Subscriber shall ensure that all billing information (including contact details, authorised signatories and bank account details) is kept accurate and up to date.
    • Non-payment of subscription fees may result in suspension of access to the Services until such fees are brought up to date.
    • The Subscriber acknowledges and agrees that all subscription fees payable under these Subscriber Terms may be collected by way of debit order, which shall be processed by the holding company, FIA NPC (The Financial Intermediary Association of South Africa), on behalf of FIA Services. Payment to FIA NPC shall be deemed to constitute valid and sufficient discharge of the Subscriber’s payment obligations to FIA Services under these Subscriber Terms.

  1. ONBOARDING
    • Onboarding will be conducted as a Subscription with FIA Services under the SAUMA affiliation arrangement.
    • Onboarding will not confer FIA NPC membership status or any associated rights.
    • Onboarding is conditional on confirmation of the Subscriber’s current SAUMA membership at the time of application

  1. DATA PROTECTION
    • FIA Services will process all personal information in accordance with the Protection of Personal Information Act 4 of 2013 (POPIA) as set out in our POPIA policies.
    • By subscribing, the Subscriber authorises FIA Services to confirm their SAUMA membership status with SAUMA and to process personal information for the purposes of fulfilling the Subscription.

  1. TERMINATION
    • The Subscriber may terminate the Subscription by giving FIA Services one calendar month’s written notice.
    • FIA Services may terminate the Subscription on one calendar month’s written notice, or immediately if the Subscriber breaches these Subscriber Terms and fails to remedy such breach within 14 (fourteen) days of receiving written notice.
    • Termination of the SAUMA–FIA Services affiliation agreement shall not automatically terminate these Subscriber Terms.
    • Termination by the Subscriber shall not relieve the Subscriber of liability for any subscription fees accrued up to the effective date of termination.
    • FIA Services may suspend or terminate the Subscription with immediate effect in the event of non-payment of fees by the Subscriber.

  1. GENERAL
    • These Subscriber Terms are governed by the laws of the Republic of South Africa.
    • Any disputes arising under these Subscriber Terms shall be dealt with in accordance with the dispute resolution provisions contained in the FIA NPC membership terms and conditions, as modified to reflect that the contractual relationship is with FIA Services.
    • Any notices required under these Subscriber Terms may be validly delivered by email to the addresses provided in the Subscriber’s application form, and such notices shall be deemed received on the day of transmission if sent during business hours.
    • The Subscriber may not assign, cede or transfer any of its rights or obligations under these Subscriber Terms without the prior written consent of FIA Services.
    • No variation of these Subscriber Terms shall be of any force or effect unless reduced to writing and signed by both FIA Services and the Subscriber.