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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 with the option of workshops in Johannesburg. Students in other parts of the country will be able to join in through Skype. There will be 2 workshops this semester:

  • Saturday 23 March 2019 at 09:30 - 12:30
  • Saturday 25 May 2019 at 09:30 - 12:30

  • 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

    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. There will be 3 workshops this semester:

  • Wednesday 3 April 2019 at 18:00 - 20:00
  • Wednesday 8 May 2019 at 18:00 - 20:00
  • Wednesday 29 May 2019 at 18:00 - 20:00

  • 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

    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. There will be 3 workshops this semester:

  • Wednesday 17 April 2019 at 18:00 - 20:00
  • Wednesday 15 May 2019 at 18:00 - 20:00
  • Wednesday 12 June 2019 at 18:00 - 20:00

  • 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: SAIS, 1st Floor, 51 West Street, Houghton Estate
    *NOTE: Access to lectures is granted only once full payment has been made

    DATE LECTURE NUMBER LECTURE CONTENT
    Tuesday 19 February 2019 Lecture 1 REGULATORY LANDSCAPE (FMA, FAIS, FICA, POPI, FATCA, FSR)
    Tuesday 26 February 2019 Lecture 2 INTRODUCTION TO RULES 1 - FINANCIAL MARKETS ACT (No 19 of 2012)
    Tuesday 5 March 2019 Lecture 3 GENERAL PROVISIONS AND AUTHORISATIONS AND APPROVALS
    Tuesday 12 March 2019 Lecture 4 MANAGEMENT AND CONTROL
    Tuesday 19 March 2019 Lecture 5 CONDUCT OF BUSINESS
    Tuesday 26 March 2019 Lecture 6 JSE EQUITIES TRADING AND MARKET CONDUCT
    Tuesday 2 April 2019 Lecture 7 JSE EQUITIES TRADING AND MARKET CONDUCT
    Tuesday 9 April 2019 Lecture 8 CLIENT ASSETS (INCLUDES SEGREGATION OF FUNDS AND SECURITIES; RESTRICTION ON ALIENATION OF SECURITIES)
    Tuesday 16 April 2019 Lecture 9 CLEARING AND SETTLEMENT
    Tuesday 23rd April 2019 Lecture 10 CLEARING AND SETTLEMENT
    Tuesday 30th April 2019 Lecture 10 and Lecture 11 LECTURE 10 -TRANSACTIONS FROM INCEPTION TO FINALISATION AND LECTURE 11 - COMPLAINTS
    Tuesday 7th May 2019 Lecture 12 CAPITAL ADEQUACY - PART 1 - FINANCIAL RECORDS, REPORTING, AUDIT, INSURANCE AND CREDIT RISK MANAGEMENT
    Tuesday 14th May 2019 Lecture 13 CAPITAL ADEQUACY - PART 2 - MEMBERS FINANCIAL RESOURCES REQUIREMENTS
    Tuesday, 21 May 2019 Lecture 14 REVISION LECTURE
    Tuesday, 28 May 2019 Lecture 15 2nd REVISION LECTURE (TBC)

    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 Offices

    DATE LECTURE NUMBER LECTURE CONTENT
    Monday 8 April 2019 Lecture 1 FINANCIAL RESOURCES REQUIREMENTS & SETTLEMENT ASSURANCE
    Tuesday 9 April 2019 Lecture 2 FINANCIAL RESOURCES REQUIREMENTS & SETTLEMENT ASSURANCE - LER AND MARGINING
    Monday 15 April 2019 Lecture 3 SECURITIES TRANSFER TAX & STT ACTS
    Monday 29 April 2019 Lecture 4 SLB
    Monday 6 May 2019 Lecture 5 CORPORATE ACTIONS
    Saturday 11 May 2019 Lecture 6 REGULATORY LANDSCAPE (FAIS, FICA, POPI, FATCA, FSR)
    PROTECTION OF CLIENTS ASSETS
    SETTLEMENT OBLIGATIONS AND SETTLEMENT PROCEDURES and ROLLING OF SETTLEMENT
    FAILED TRADES AND SECURITIES LENDING AND BORROWING
    Monday 13 May 2019 Lecture 7 MARKET ABUSE
    Saturday 18 May 2019 Lecture 8 TRADING IN BEE SECURITIES AND KRUGERRANDS
    STOCK ACCOUNTS AND STT TRADING
    SUPERVISION AND ENFORCEMENT AND DEFAULT
    ANTI MONEY LAUNDERING
    Monday 20 May 2019 Lecture 9 LISTINGS REQUIREMENTS
    Monday 27 May 2019 Lecture 10 EXCHANGE CONTROL AND DIVIDENDS TAX
    Monday 3 June 2019 Lecture 11 REVISION LECTURE
    MONDAY 10 JUNE 2019 EXAM