Johannesburg -; The SAIA today announced in its Bulletin that on the 7th of December 2012, the Financial Services Board ("FSB") issued Information Circular 12/2012 in respect of the Level 1 Regulatory Examinations Update. The Information Circular sought to notify candidates of the following updates:" /> Johannesburg -; The SAIA today announced in its Bulletin that on the 7th of December 2012, the Financial Services Board ("FSB") issued Information Circular 12/2012 in respect of the Level 1 Regulatory Examinations Update. The Information Circular sought to notify candidates of the following updates:" />
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FSB extends Level 1 RE re-write exams

FSB extends Level 1 RE re-write exams
31-01-13 / Staff Writer

FSB extends Level 1 RE re-write exams

The extension of the re-write deadline for the following level 1 examinations has been extended to 31 March 2013 only for candidates who have written the RE3 and/or RE4 at least once by 30 September 2012

RE3 - Key Individual: Category II and II

  RE4-Key Individual: Category III

The extension of the date for representatives that have entered the industry for the first time from 1 January 2010 to 31 December 2010 has been extended to 31 March 2013, provided that the representative has written the examination at least once by December 2012.

A summary of all the dates applicable to the level 1 regulatory examinations and specifically to only those candidates who have written the level 1 examinations applicable at least once:

The specific dates that the examinations bodies will be closing down over December/January 2013 period and when they will be resuming operations

A short update on the FSB/INSETA Assistance Workshop Project aimed at providing additional assistance to those candidates who are struggling to successfully complete the level 1 regulatory examinations.

Regulatory action that is to be taken against affected individuals who did not comply with the level 1 regulatory examination deadline of the 30 June 2012, and the importance of updating one's profile on the system e.g. correct identification details of FSPs, key individuals and representatives.

The Association also stated that as a follow up to the Information Circular 12/2012 in respect of the Level 1 Regulatory Examinations Update, the FSB also issued Information Circular 13/2012 on 14 December addressing the following:

Additional information regarding the extension of the deadline for the level 1 examinations to the effect that sole proprietors, key individuals and representatives authorized, approved or appointed during January 2010 to December 2010 will be included in the extension of the re-write deadline of 31 March 2013, provided that they have attempted the examination at least once by 31 December 2012

A summary of all the dates applicable to the level 1 regulatory examinations clarifying all the dates for all the level 1 regulatory examinations and also indicating that persons who have made no attempt to write the level 1 examination at the dates indicated above will not qualify for the extensionThe specific dates which are important to bear in mind for any registrations for the examinations up to 31 March 2013 and that on-line examinations are available at a venue of candidates' choice, however, candidates who would prefer to book an on-line examination need to do so during the period that the examination body will be open again in 2013

A short update including the specific dates and areas of the workshops on the FSB/INSETA Assistance Workshop Project aimed at providing additional assistance to those candidates who are struggling to successfully complete the level 1 regulatory examinations and that the registration for these workshops is available on the INSETA website

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