Advertise Here


IconAccounting & Tax
IconAppraisers & Valuers
IconArbitration Services
IconAssessors & Loss Adjusters
IconAssist and Lifestyle Benefits
IconAssociations & Institutes
IconBBBEE Consulting and Verification Agencies
IconBroker Acquisition Financing
IconBrokers for Brokers
IconBusiness Process Management
IconBusiness Process Outsourcing
IconCall Centre Outsourcing & Sales
IconCompany Secretarial Services
IconConsumer Protection
IconCorporate Governance
IconCredit Bureaus
IconDebit Order Collection Facilities
IconDefensive Driver Training
IconEducation and Training
IconEmergency Medical Rescue
IconFire, Storm, Flood Damage Specialists
IconForensic Investigation Services
IconHuman Resources
IconIndustrial Cleaners
IconInformation Technology and Software Partners
IconInsurance Companies
IconLightning Damage & Surge Protection Specialists
IconNiche Insurance Products
IconOutbound Sales
IconOutsourcing Companies
IconPolicy Administration
IconPremium Financing
IconPublic Loss Adjustors
IconRating Agencies
IconReference Books & Material
IconRegulatory Authorities
IconRisk Finance
IconRisk Management
IconRisk Surveyors
IconSalvage Operators
IconSpecialized Claims Investigations & Assessing
IconSurveys and Research
IconTraining Courses & Workshops
IconUnderwriting Managers
IconVehicle Accident Management
IconVehicle and Household Risk Inspection Services
IconVehicle Tracking
IconWellness Programs
IconWholesale Brokers
  Subscribe To »

Fais CPD Obligations and Classes of Business







The required hours of continuous professional development required is determined by the extent of the products which you advise on.
Board Notice 194 of 2017, the Fit and Proper road map, decrees as follows:

A FSP, key individual and representative authorised, approved or appointed to render or manage or oversee the rendering of financial services in respect of –

  1. a single subclass of business within a single class of business must complete a minimum of 6 hours of CPD activities per CPD cycle;
  2. more than one subclass of business within a single class of business must complete a minimum of 12 hours of CPD activities per CPD cycle; or
  3. more than one class of business must complete a minimum of 18 hours of CPD activities per CPD cycle

Let’s try and explain this at the hand of practical examples. In order to follow this, please download and print the Classes of Business table.

  1. Mary works as a representative for a small brokerage and only sells motor insurance. This is one of 8 sub-classes which resort under the “Short-term Insurance, Personal Lines” Class of Business. She only needs to acquire 6 hours of CPD per annual cycle.
  2. Joseph, her husband, specialises in motor, transport and property insurance, all of which are sub-classes of “Short-term Insurance, Personal Lines” Class of Business. He will need to complete 12 hours of CPD training per cycle.
  3. Frank, the owner of the business, advises on both Personal AND Commercial lines. As these are classified as two Classes of Business, he will need to attain 18 hours of CPD training per annual cycle, between 1 June and 31 May the following year.

The Board Notice also provides for a reduction in the number of CPD hours.

A FSP, key individual and representative that is authorised, approved or appointed for a period of less than 12 months in a particular CPD cycle, must by the end of that CPD cycle complete a pro-rated minimum number of CPD hours calculated as follows:

(X + 12) x Y = Z

X = Number of annual required CPD hours

Y = number of months authorised, approved or appointed during a particular CPD cycle

Z = Required pro rata CPD hours

A FSP may pro rata reduce the CPD hours in respect of a representative for the period of time during which that representative is continuously absent from work if that absence is due to

  1. maternity, paternity or adoption leave;
  2. long-term illness or disability; or
  3. the representative's responsibilities to care for a family member of that representative who has a long-term illness or disability.

If such an occasion arises, please refer to the Board Notice for full details. 

Source: Moonstone Compliance (Pty) Ltd
« Back to previous page Print this page » |

Breaking News »

Interview with Bright Rock CEO, Schalk Malan about their ground-breaking temporary disability cover

In October 2019 Needs-matched life insurance provider, BrightRock, announced enhancements to their temporary expenses cover. Read More More recently Insurancegateway® Interviewed Schalk Malan to not only ...
Read More »


The Importance of an effective online campaign

As we enter the age of the fourth industrial revolution, a technological transformation driven by the internet, it seems almost unthinkable that the web would not be the preferred platform chosen by businesses ...
Read More »


Allianz and Embry-Riddle University aviation study: Safer skies but claims and risks grow

Fewer fatal accidents, but growing number of costly claims for the aviation industry and insurers from collisions, groundings and aircraft repairs Analysis of 50,000 aviation insurance claims shows collision/crash ...
Read More »


Allianz and Embry-Riddle Aeronautical University report: Flying has never been safer

Despite record numbers of passengers, 2017 and 2018 are among the three safest years of the aviation industry for fatal plane crashes Safety driven by design, technology and training improvements Strap yourself ...
Read More »


More News »


Healthcare »


Investment »


Life »


Retirement »

Advertise Here
Advertise Here

From The Glossary »


SteFI Call:

Short-term Fixed Interest Call Deposit Index. The SteFI Call is used as a benchmark for measuring the performance of short term fixed deposits.
More Definitions »






Contact IG


Media Pack


RSS Feeds

By using this website you agree to the Terms of Use.
Copyright © Insurance Gateway (Pty) Ltd 2004 - 2019. All Rights Reserved.