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BLACK ONYX

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Following the CPD hours mailer that was published on Thursday, 30 August 2018, should you not have seen it, you may do so here.

We would like to give you, the members, additional information on each of the partners providing CPD hours. We will be doing this over the next few weeks.

Kindly note that with reference to FPI approval 1 CPD point = 1 CPD hour

BLACK ONYX – THE CPD HUB

THE CPD HUB is powered by BLACK ONYX, offering a unique digital CPD service focussed on INVESTING and ETHICS & PRACTICE STANDARDS. For R249 / year, you can remain “Fit & Proper” from the comfort of your phone or PC, by watching videos or listening to podcasts by award-winning asset managers. Click here to learn more.

Registration process:

There is a dedicated FIA registration page to access THE CPD HUB. Please click here to register.

Categories:

The CPD content currently qualifies for all Classes of Business (COB), while focussed on INVESTING and ETHICS & PRACTICE STANDARDS. COB categories include:

#5. Short-term and Long-term Deposits
#6. Structured Deposits
#7. Investments (all 9 subclasses)
#8. Forex Investments

CPD content also includes modules on regulation compliance including ETHICS & PRACTICE STANDARDS.

You can expect a complete multi-media CPD curriculum in October with 30+ CPD hours, covering the following, while you can still register here to access existing regulatory material.

INVESTING (TRADITIONAL, PASSIVE, BOUTIQUE)

  • Unit Trusts 101
  • Hedge Funds 101
  • Regulated Hedge Funds
  • General Equity / Long Only Funds
  • Balanced Funds
  • Flexible Funds
  • Passive Funds – ETFs
  • Property Funds
  • Equity Long / Short Funds
  • Fixed Income Funds
  • Multi Strategy Funds
  • Multi Manager Funds
  • Private Equity Funds
  • Section12 Funds
  • Structured Products

REGULATION (5+ hours for ETHICS & PRACTICE STANDARDS)

  • Retail Distribution Review (RDR)
  • Fit & Proper – Board Notice 194 of 2017
  • Financial Services Regulation Overview
  • Treating Customers Fairly (TCF)
  • Financial Intelligence Centre Act (FICA)
  • Protection of Personal Information Act (POPI)
  • Financial Advisory and Intermediary Services (FAIS)
  • Financial Markets Act – Focusing on Market Abuse
  • Conflict of Interest (COI)
  • 6 Steps to Financial Planning Process

Support:

BLACK ONYX offers online support for queries that cannot be resolved off a comprehensive FAQs section on THE CPD HUB. All queries are then handled by a dedicated team via email.

Packages:

THE CPD HUB offers four packages:

1. FREE (allows users to become familiar with the services provided before committing to 12-months). Click here for a short video

  • Unlimited access to ALL their CPD content
  • Monthly update on new CPD content and interviews
  • No access to online assessments
  • No CPD certificate or scorecard

2. SILVER (entry level digital CPD package – FIA special R249 / year). Click here for a short video

    • Unlimited access to ALL their CPD content*
    • Monthly update on new CPD content and interviews
    • Access to online assessments
    • Access to certificates after completing each module on THE CPD HUB
    • Access to your CPD scorecard on the monthly report

*Covers the expense of ETHICS & PRACTICE STANDARDS CPD requirements.

3. GOLD (aggregated CPD scorecard package – FIA special R449 / year). Click here for a short video

    • Unlimited access to ALL their CPD content
    • Monthly update on new CPD content and interviews
    • Access to online assessments
    • Access to certificates after completing each module on THE CPD HUB
    • Access to your CPD scorecard on the monthly report
    • Aggregation of CPD points from other CPD service providers

4. CORPORATE (allows firms to upload multiple users onto the GOLD package – FIA special R449 / year). Click here for a short video

    • Unlimited access to ALL their CPD content
    • Monthly update on new CPD content and interviews
    • Access to online assessments
    • Access to certificates after completing each module on THE CPD HUB
    • Access to your CPD scorecard on the monthly report
    • Aggregation of CPD points from other CPD service providers

FIA members will benefit from the 50% special on the GOLD & CORPORATE package which runs until the end of November 2018.  Please click here to register.

Affiliate Program:

THE CPD HUB manages an affiliate program and pays commissions for any referrals. This will offset the costs of this regulatory burden. Click here for a short video.

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  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.