Demonstrate knowledge and understanding of the Financial Advisory and Intermediary Services Act 2002 (FAIS) (Act 37 of 2002) as it impacts on a specific financial services sub-sector US

This Unit Standard is intended for learners in the Financial Services sector who are construed to give financial advice under FAIS. It will be useful for Financial Planners, Intermediaries and learners employed by financial service providers.

The qualifying learner is capable of:
Explaining the purpose of the Financial Advisory and Intermediary Services Act (FAIS).
Explaining the requirements for licensing under FAIS.
Explaining the mechanisms for enforcement and the implications for the intermediary and the industry.
Discussing the effects of requirements for transparency and the right to information on the financial services industry.