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Stockbroker Examinations - Course Information

Stockbroker Exams - Course Information

SAIS is in the process of revising the content of the Stockbroker preparatory courses and we are moving towards offering them on an on-line training platform. During this semester a hybrid model will be used and study material will be made available in written format as in the past. As soon as modules become available online, enrolled students will be given access to the online platform. Some of the courses will still be offered through lectures. Lectures will be held in Johannesburg only, but students in other parts of the country can join in through Skype.


The course in Taxation aims to provide candidates with a broad understanding of taxation in so far as it is relevant to Stockbrokers. The course has a strong focus on investments, and is not designed to prepare candidates to become tax practitioners or to give tax advice. The course consists of the following study units:

  1. Introduction
  2. Capital vs Revenue
  3. Taxation of Individuals
  4. Taxation of Trusts
  5. Company Taxation
  6. Insurance Companies
  7. Collective Investment Schemes
  8. REITS
  9. Taxation of Investment Income
  10. Capital Gains Tax
  11. Taxation of Gains and Losses on Realisation of Investments
  12. Value Added Tax
  13. Securities Transfer Tax (STT)
  14. General
  15. Changes Promulgated in respect of the 2018 Tax Year

The course is offered through distance education only. Course material will be made available from the 5th March 2018 onwards.


This course focuses on the analysis and interpretation of financial statements and reports. This knowledge will enable candidates to evaluate the financial and market positions of companies, the value of the securities issued and the risks associated with such securities. Ultimately this information will be used in investment decisions. The course consists of the following study units:

  1. Introduction to Financial Statements, Financial Reporting and Financial Analysis
  2. Financial Reporting
  3. Understanding the Financial Statements
  4. Understanding the Financial Statements continued
  5. Ratio Analysis
  6. Ratio Analysis continued
  7. Inventories and Long-term Assets
  8. Long-term Assets continued
  9. Financial Instruments and Long-term Liabilities
  10. Leases, Provisions, Contingent Liabilities and Assets and Accruals
  11. Taxation
  12. Net Present Value and Other Investment Criteria
  13. Valuations
  14. Dividend Decision
  15. Money and Capital Markets, Options and Futures
Finance - workshop schedule
Workshop 1 Wednesday 5th September 2018
Workshop 2 Wednesday 3rd October 2018
Workshop 3 Wednesday 31st October 2018

This course aims to develop proficiency in the following areas: financial needs analysis, analysis of investments, investment advice, legal and regulatory compliance and portfolio management. The course consists of the following study units:

  1. Introduction to the Financial Markets
  2. Economics
  3. Financial Markets
  4. Financial Needs Analysis
  5. Portfolio Management Theory
  6. Securities
  7. Analysis, Evaluation and Pricing of Securities
  8. Taxation
  9. Corporate Actions
Investment Advice & Portfolio Management - workshop schedule
Workshop 1 Wednesday 19th September 2018
Workshop 2 Wednesday 17th October 2018
Workshop 3 Wednesday 14th November 2018

The course is offered through distance education with the option of workshops in Johannesburg. Students in other parts of the country will be able to join in through Skype. Workshops will be arranged between the lecturer and enrolled students.


The Rules I course aims to develop an in-depth understanding of the Financial Markets Act, how it relates to an exchange, and the JSE Rules and Directives (and in future those of other exchanges in South Africa). The course consists of the following study units:

  1. Introduction to the Financial Markets Act, Rules and Directives
  2. Approvals of member firms
  3. The requirements of management and control
  4. Members’ conduct of business
  5. Client assets
  6. Trading
  7. Clearing and Settlement
  8. Transactions in Equity securities from inception to finalisation
  9. Capital adequacy requirements of members
  10. Client complaints and disputes.

The course is offered through a series of lectures presented in Johannesburg. Students in other parts of the country may dial into the lectures through Skype. Lectures are not compulsory, however they do assist greatly with understanding the regulatory requirements and attendance is recommended. The study material will be made available to enrolled students.

Lecture Information

All lectures begin at 18h00 and end at 20h00.

Venue: 51 West Street, Houghton Estate, SAIS/Navigare Offices

DATEDAYLECTURE NUMBERLECTURE CONTENTLECTURER
24-Jul-18 Tuesday Lecture 1 INTRODUCTION TO RULES 1 - FINANCIAL MARKETS ACT (No 19 of 2012) Kashnie Naidoo
31-Jul-18 Tuesday Lecture 2 GENERAL PROVISIONS AND AUTHORISATIONS & APPROVALS Rudi Britz
07-Aug-18 Tuesday Lecture 3 MANAGEMENT AND CONTROL Kashnie Naidoo
14-Aug-18 Tuesday Lecture 4 CONDUCT OF BUSINESS Kashnie Naidoo
21-Aug-18 Tuesday Lecture 5 JSE EQUITIES TRADING AND MARKET CONDUCT Rudi Britz
28-Aug-18 Tuesday Lecture 6 JSE EQUITIES TRADING AND MARKET CONDUCT Rudi Britz
04-Sep-18 Tuesday Lecture 7 CLIENT ASSETS (INCLUDES SEGREGATION OF FUNDS & SECURITIES; & RESTRICTION ON ALIENATION OF SECURITIES) Kashnie Naidoo
11-Sep-18 Tuesday Lecture 8 CLEARING AND SETTLEMENT Rudi Britz
18-Sep-18 Tuesday Lecture 9 CLEARING AND SETTLEMENT Rudi Britz
25-Sep-18 Tuesday Lecture 10 and Lecture 11 LECTURE 10 -TRANSACTIONS FROM INCEPTION TO FINALISATION & LECTURE 11 - COMPLAINTS Kashnie Naidoo
02-Oct-18 Tuesday Lecture 12 CAPITAL ADEQUACY - PART 1 - FINANCIAL RECORDS, REPORTING, AUDIT, INSURANCE AND CREDIT RISK MANAGEMENT Rudi Britz
09-Oct-18 Tuesday Lecture 13 CAPITAL ADEQUACY - PART 2 - MEMBERS FINANCIAL RESOURCES REQUIREMENTS Rudi Britz
16-Oct-18 Tuesday Separate Presentation A2X and ZAR X PRESENTATIONS Gary Glary and Etienne Nel
23-Oct-18 Tuesday REVISION LECTURE Rudi Britz and Kashnie Naidoo

The Rules II Course follows on Rules I and deals in-depth with a variety of legislative and regulatory requirements that stockbroking firms have to comply with. Candidates are only allowed to enrol for this course once they have passed the Rules I exam. The course consists of the following study units:

  1. Protection afforded to Clients and Members
  2. Supervision and Enforcement
  3. Settlement Obligations and Settlement Procedures
  4. Trading Rules and Directives and Client-, Suspense- and Misdeal Account and Use of Stock Accounts for STT Purposes
  5. Practical Equity Trading (Including Off Order Book Trades);
  6. Rolling of Trades/Failed Trades and Securities Lending and Borrowing
  7. Kruger Rands
  8. BEE Trading and Trading Rules
  9. Financial Resources Requirements and Settlement Assurance
  10. Financial Resources Requirements and Settlement Assurance- LER AND MARGINING
  11. Money Laundering
  12. STT and STTA ACTS
  13. SLB
  14. Corporate Actions
  15. Market Abuse
  16. Listings Requirements
  17. Exchange Control and Dividend Tax

The course is offered through a series of lectures presented in Johannesburg. Students in other parts of the country may dial into the lectures through Skype. Lectures are not compulsory, however they do assist greatly with understanding the regulatory requirements and attendance is recommended. The study material will be made available to enrolled students.

Lecture Information

All lectures begin at 18h00 and end at 20h00.

Venue: 51 West Street, Houghton Estate, SAIS/Navigare Offices

DATEDAYLECTURE NUMBERLECTURE CONTENTLECTURER
23-Jul-18 Monday Lecture 1 PROTECTION OF CLIENTS ASSETS Kashnie Naidoo
30-Jul-18 Monday Lecture 2 SETTLEMENT OBLIGATIONS AND SETTLEMENT PROCEDURES and ROLLING OF SETTLEMENT Rudi Britz
06-Aug-18 Monday Lectures 3 FAILED TRADES AND SECURITIES LENDING AND BORROWING Rudi Britz
13-Aug-18 Monday Lecture 4 & 5 LECTURE 4 -TRADING IN BEE SECURITIES AND KRUGERRANDS & LECTURE 5 - STOCK ACCOUNTS AND STT Kashnie Naidoo & Rudi Britz
20-Aug-18 Monday Lecture 6 TRADING Rudi Britz
27-Aug-18 Monday Lecture 7 SUPERVISION AND ENFORCEMENT AND DEFAULT Kashnie Naidoo
03-Sep-18 Monday Lecture 8 ANTI MONEY LAUNDERING Kashnie Naidoo
10-Sep-18 Monday Separate Presentation A2X and ZAR X PRESENTATIONS Gary Clarke/Etienne Nel
17-Sep-18 Monday Lecture 9 (JSE) FINANCIAL RESOURCES REQUIREMENTS & SETTLEMENT ASSURANCE Shaun Davies
25-Sep-18 Tuesday Lecture 10 (JSE) FINANCIAL RESOURCES REQUIREMENTS & SETTLEMENT ASSURANCE - LER AND MARGINING Shaun Davies
01-Oct-18 Monday Lecture 11 SECURITIES TRANSFER TAX & STT ACTS Vincent Freemantle
08-Oct-18 Monday Lecture 12 SLB Vincent Freemantle
15-Oct-18 Monday Lecture 13 CORPORATE ACTIONS Vincent Freemantle
22-Oct-18 Monday Lecture 14 MARKET ABUSE Vincent Freemantle
29-Oct-18 Monday Lecture 15 LISTINGS REQUIREMENTS Vincent Freemantle
05-Nov-18 Monday Lecture 16 EXCHANGE CONTROL AND DIVIDENDS TAX Vincent Freemantle