BLENDED LEARNING SOLUTIONS
Intelligo Solutions


FAIS Act In terms of section 8 of the Financial Advisory and Intermediary Services Act the Registrar must after consultation with the Advisory Committee determine the requirements that financial services providers, key individuals and representatives of the provider must comply to. These requirements are termed the Determination of Fit and Proper Requirements for financial services providers and their representatives. The fit and proper requirements were update in 2008 and subsequent several amendments have been effected. The requirements set the honesty and integrity, competency and operational ability requirements for all FSPs, key individuals and representatives. It also set out he solvency requirements applicable to FSPs.

The Fit and Proper requirements contain the following sections

  • Honesty and Integrity requirements that are applicable to all FSPs, key individuals, representatives and compliance officers
  • Competency requirements that consist of experience and qualification requirements that are applicable to all FSPs, key individuals and representatives
  • Operational ability requirements that are applicable to all FSPs, key individuals and representatives
  • Solvency requirements that are applicable to the FSP

Reference:  www.fsb.co.za
Intelligo Solutions provides the following fit & proper competency requirements.
FAIS Act Fit & Proper Level 4

Qualification Category of Insurance

  • Further Education and Training Certificate: Retail Insurance SAQA ID 66609/LP49835
Category Description Advice Intermediary  
CATEGORY I  
1.1 Long Term A X X G
1.2 Short-Term Insurance : Personal Lines X X G
1.3 Long Term B1 X X SP
1.6 Short-Term Insurance : Commercial Lines X X G
1.19 Friendly Society X X G
1.20 Long Term B2 X X G

  • Further Education and Training Certificate: Short Term Insurance SAQA ID 66610/LP49929
Category Description Advice Intermediary  
CATEGORY I  
1.2 Short-Term Insurance : Personal Lines X X G
1.6 Short-Term Insurance : Commercial Lines X X G

  • FAIS Act Fit & Proper Regulatory Exam Preparation

Methods of Learning

  • Learnership – Employed and Unemployed- Classroom
  • Learnership – Employed Online
  • Skills Programmes – Classroom,
  • Skills Programmes  - Distance Online, Paper based
  • Individual Unit Standards – Distance Online, Paper based
  • Regulatory Exam preparation – Workshops, Online, Paper based
  • Regulatory Exam preparation – Distance Online, Paper based
  • Regulatory Exam preparation – One on one coaching

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