COVID-19 and the New World of Work
The first quarter of 2020 has brought unprecedented changes to
the globe. Changes that have affected all spheres of life.
Economies, markets, industries and people find themselves under
immense pressure. Leadership is in the spotlight.
Many leaders find themselves in situations that they would never
have imagined in peace-time. Finding ourselves in the midst
of the lockdown, it is important to remember that the aim of the
lockdown is to attempt to curb the spread of the COVID-19 virus, a global
pandemic. There is no doubt that the lockdown will end,
however post-lockdown South Africa will be forever changed.
The resilience required will be immense. Individual
resilience will become paramount. Individual resilience
will impact organisational resilience, fiscal resilience,
economic resilience and our national resilience. All of
which will be needed to ensure that South Africa survives this
During the lockdown, the Johannesburg Stock Exchange (JSE) has
been listed as an essential service. By
extension Stockbrokers and Brokerages fall part of the essential
services. After 30 April 2020, the financial markets will
continue to be essential to the changed South Africa.
would like to intensify its efforts to support the industry,
through the programmes it offers. Some of these may have
been impacted by the lockdown. Please take note of the updates
and other initiatives from the SAIS in this edition of The SAIS
- CPD Extension
- Industry Forum Meeting
Stockbroker Exam Postponed
- Course: The
Key Individual Role of the Stockbroker in Control
- Stockbroker Exams
- Financial Markets
Practitioner (FMP) learnership
- SAIS CPD Offering
- SARB & FSCA
Keeping in line with the FSCA CPD extension and to assist
members in the industry, SAIS will be extending the 2019/2020
CPD cycle to 31 August 2020. The 2020/2021 CPD cycle will run
from 1 September 2020 to 31 May 2021 and CPD hours will be
calculated on 9 months instead of 12. The 30 hours CPD requirement
will be pro-rated for the 2020/21 CPD year only, resulting in a
total CPD hour requirement of 22 hours for the 2020/21 CPD
year. This means that any CPD hours logged as completed
between 1 June and 31 August 2020 will be allocated to the
2019/2020 CPD cycle.
There are no changes to the process of logging CPD hours and this
can continue as normal. It is important that you ensure your
details are current so that your CPD is reported accurately. Click here to review a
step-by-step guide to updating your details.
The lockdown precipitated that the SAIS cancel the
first board and industry forum meeting of 2020. These
meetings will not be re-scheduled. The remainder of the Board
and Industry Forum meeting dates will remain as scheduled; hence
the first meeting of the year will be Wednesday, 24 June 2020.
Should there be anything that you wish to discuss or bring to our
attention, please do not hesitate to do so.
Stockbroker Exam Postponed
The SAIS took the decision to postpone the
Legislation exam that had originally been scheduled for 6 April
2020. The new date of the exam will be confirmed in due
course, although it is planned for September 2020.
Things to Look Forward to....
Course: The Key Individual Role of Stockbroker in
The aim of this course is to provide individuals interested in
becoming a Stockbroker in Control with the structure, methodology and
scope that this key individual (KI) will require. KIs are those
responsible for managing and overseeing the activities relating to
the rendering of any financial service. Managing means to
have executive control or authority and overseeing is the function of
supervising a person/s and their work in an official capacity.
Where stockbroking firms are concerned, stakeholders reply on the
fact that a competent key individual is assuming responsibility for
the overall risk management and compliance.
The Stockbroker in Control is the coordinating and consolidating KI
between firms’ external and internal stakeholders. They preform
a key pivotal role of protecting the market and the firm.
The objectives of this course are to:
- Explain what is a Stockbroker;
- Explain the legislative construct of a
- Explain the rationale for the Key Individual
Stockbroker in Control;
- Explain the role of the Stockbroker in
Control as a key individual;
- Explain the role of the SAIS;
- Explain what is means to be the Person in Control;
- Explain when a Stockbroker in Control is
- Discuss the duties of a Stockbroker in
- Provide specific roles and responsibilities
of the Stockbroker in Control.
Individuals completing this course will be able to receive a
certificate, on completion of an assessment. This course is
available on the SAIS learning platform as of 18 May 2020.
The registration period for semester 2 for the Stockbroker Exams
opens on 4 May 2020 and will close on 21 August 2020. A
reminder that all
SAIS lectures will be conducted via Skype until
If you do not have a Skype account as yet, please ensure you download
the application (for free at https://www.skype.com/en/get-skype/)
and create your account. Once this is done, please send your
Skype address to email@example.com so that we can
ensure you are added to any necessary groups.
Financial Markets Practitioner (FMP) learnership
learnership provides access to learners with a general financial
qualification at NQF Level 7, to specialised occupations in the areas
of investment advice and portfolio management, trading and settlement
and investment administration. It also provides an opportunity for
people already employed in the industry to obtain a formal
qualification. In addition, the qualification forms one of the
entry level qualifications, that will allow individuals access to the
examinations that will ultimately lead to the Certified Stockbroker
The Financial Markets Practitioner learnership requires learners to
gain workplace experience in the financial markets industry.
Employers who provide the workplace experience to these learners can
qualify for the financial incentives associated with a learnership,
from the SETAs as well as qualify for income tax deductions.
Visit the Fasset website to read more about
the SETA benefits available. Please contact Romaana McKinnon at
if you are interested in implementing the learnership.
SAIS CPD Offering
SAIS will be launching its online CPD offering this month. Each
course will offer 2-3 CPD hours and will include an online assessment
which must be completed in order to claim the hours. Look out
for more communication on these exciting topics and others.
- Investment Criteria
& Valuations (2 hours)
- Ratio Analysis (3
- Financial Needs
Analysis (2 hours)
- Economics (3 hours)
- FMA Chap X - Market
Abuse (2 hours)
- FMA and FRSA (2.5
- POPI and hopefully
OTC derivative (FMA) (2.5 hours)
- FAIS and FICA (2.5