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Cape Town – The Financial Services Board (FSB) has granted a
further six-month extension to people in the financial services industry who
failed the regulatory exam and have to write it again.
Candidates initially had to write the supplementary exam
before the end of September, but have now been given until the end of March
next year to do so.
The extension does not apply to those who have never
attempted to write the exam.
The FSB has now announced that regulatory steps will be
taken against such practitioners.
According to the latest figures circulated by the FSB, 2 592
key figures and sole proprietors of financial services businesses have made no
effort to write the exam. This amounts to 16% of the total 16 424 who should
have written.
Another 2 143 have to rewrite the exam after having failed
at the end of June.
The FSB has extended the deadline to the end of June for the
exam which was to have been written by the end of last year.
There are a further 6 398 representatives of financial
services businesses – or almost 8% of the 81 606 – who made no effort to write.
A total 10 600 failed candidates have to rewrite.
The FSB indicates that there are currently 119 506
representatives in the industry. Only those who were appointed before 2010 are
required to take the exam.
Those who neglected to write will no longer be able to
occupy key positions or act as representatives.
- Sake24
For more business news in Afrikaans, go to Sake24.com.
