RE 1: Key Individual Cat 1

FAIS Level 1 Regulatory Exam Preparation Workshops

(This examination is called FAIS Level 1 RE 1)


This regulatory examination focuses on your role and responsibilities as a Key Individual. We will be covering all the relevant Board Notices, Acts and Codes as prescribed by the FSB. This examination consists of 80 questions.

Who needs to attend

All Key Individuals and Sole proprietors who are responsible for managing and overseeing a business relating to the rendering of Financial services for FSPs in Category I, II, IIA, III and IV are required to write this examination.

What we Offer:

We will prepare you by working through each task as well as the qualifying criteria and relevant Board Notices, Codes and Act as stipulated by the FSB (refer Preparation guide for level 1 Regulatory examination (RE 1 and RE 5) updated 4 April 2014 version 2 (on the FSB website under FAIS).
The 16 tasks as prescribed by the FSB are covered in the workshop .
The tasks are as follows:

  1. Describe the role of the key individual in terms of the FAIS Act.
  2. Describe the role of the representative in terms of the FAIS Act.
  3. Manage and oversee the appointment of representatives.
  4. Manage the rendering of services under supervision.
  5. Manage and oversee the on-going development/employment of representatives.
  6. Debar representatives that have been found to act fraudulently, or committed any other act that gives rise to debarment.
  7. Awareness of the regulatory environment in which the FSP functions.
  8. Awareness of the specic obligations in terms of the relevant Code of Conduct and other subordinate legislation.
  9. Oversee and manage the compliance functions as required by the FAIS Act.
  10. Maintain the licence of the FSP including the management of the licensing conditions
  11. Take the necessary action if the FSP voluntarily lapses its licence.
  12. Verify that the proper record keeping activities are carried out.
  13. Manage and oversee / participate in the setting up and/or managing of the infrastructure of the FSP.
  14. Manage and oversee the requirements that auditors/accounting ofcers must adhere to.
  15. Manage and oversee the FSP’s adherence to the requirements of FIC and other relevant anti-money laundering legislation, as it applies to the FSP.
  16. Manage any processes required in the event of an investigation by the FAIS Ombud.


The Course includes:

  • A full 2 day workshop
  • Full colour printed workbooks handed to learners at the workshop
  • Access to a Learner Support Centre that provides administrative support scheduling learners for workshops and exams
  • communicate via e mail or sms to each individual on workshop and exam information
  • content support by handling content or administrative queries

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