Class of Business Training deadlines are looming for representatives working under supervision. According to Board Notice 194 of 2017 (Fit and proper Requirements) determines several requirements that have to be implemented and complied with regarding specified deadline dates. The most important date this year is 31 January 2020. The 31 January 2020 date is applicable to Class of Business (COB) training requirements for representatives working under supervision and have not completed their COB Training.
On the 1st February 2019 the new Exemption of Services under Supervision (FSCA FAIS Notice 86 of 2018) came into effect. This Notice is applicable to representatives working under supervision. Here are the details:
Representatives working under supervision at 1 April 2018 and includes representatives that commenced under supervision between 1 April 2018 and 1 February 2019.
Representatives working under supervision from 1 February 2019 onward.
Representatives working under supervision falling in this section must meet the COB training requirements within 12 months of their DoFA (Date of First Appointment).
Lets Study offers COB 1, 2 and 3 training in class, distance learning and online.
Product Categories also play a role in determining when and which Class of Business must be completed.
As reference below is an image that visually represents the time a representative working under supervision has to complete the COB training.