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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

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 one or two 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
20/03/2018TuesdayLecture 1 INTRODUCTION TO RULES 1 and FINANCIAL MARKETS ACT (No 19 of 2012) Kashnie Naidoo
27/04/2018TuesdayLecture 2 GENERAL PROVISIONS AND AUTHORASATIONS & APPROVALS Rudi Britz
03/04/2018TuesdayLecture 3 MANAGEMENT AND CONTROL Kashnie Naidoo
10/04/2018TuesdayLecture 4 CONDUCT OF BUSINESSKashnie Naidoo
17/04/2018TuesdayLecture 5 JSE EQUITIES TRADING AND MARKET CONDUCTRudi Britz
24/04/2018TuesdayLecture 6 JSE EQUITIES TRADING AND MARKET CONDUCTRudi Britz
02/05/2018WednesdayLecture 7CLIENT ASSETS (INCLUDES SEGREGATION OF FUNDS & SECURITIES; & RESTRICTION ON ALIENATION OF SECURITIES) Kashnie Naidoo
08/05/2018TuesdayLecture 8 CLEARING AND SETTLEMENT Rudi Britz
15/05/2018TuesdayLecture 9 CLEARING AND SETTLEMENT Rudi Britz
22/05/2018TuesdayLecture 10TRANSACTIONS FROM INCEPTION TO FINALISATIONKashnie Naidoo
29/05/2018TuesdayLecture 11 - PART 1CAPITAL ADEQUACY - PART 1 - FINANCIAL RECORDS, REPORTING, AUDIT, INSURANCE AND CREDIT RISK MANAGEMENT Rudi Britz
05/05/2018TuesdayLecture 11 - PART 2CAPITAL ADEQUACY - PART 2 - MEMBERS FINANCIAL RESOURCES REQUIREMENTS Rudi Britz
12/06/2018TuesdayLecture 12COMPLAINTS AND DISPUTESKashnie Naidoo
19/06/2018TuesdayLecture 13REVISION 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
19/03/2018MondayLecture 1 PROTECTION OF CLIENTS ASSETS and SUPERVISION AND ENFORCEMENT AND DEFAULTKashnie Naidoo
26/03/2018MondayLecture 2 SETTLEMENT OBLIGATIONS AND SETTLEMENT PROCEDURES and ROLLING OF SETTLEMENTRudi Britz
04/04/2018WednesdayLectures 3FAILED TRADES AND SECURITIES LENDING AND BORROWINGRudi Britz
09/04/2018MondayLecture 5 TRADING IN BEE SECURITIES AND KRUGERRANDSKashnie Naidoo
16/04/2018MondayLecture 11MONEY LAUNDERINGShaun Davies
19/04/2018ThursdayLecture 6 TRADING Rudi Britz
23/04/2018MondayLecture 9 FINANCIAL RESOURCES REQUIREMENTS & SETTLEMENT ASSURANCEShaun Davies
30/04/2018MondayLecture 10FINANCIAL RESOURCES REQUIREMENTS & SETTLEMENT ASSURANCE - LER AND MARGININGShaun Davies
07/05/2018MondayLecture 7 STOCK ACCOUNTS AND STTRudi Britz
14/05/2018MondayLecture 12SECURITIES TRANSFER TAX & STT ACTSVincent Freemantle
21/05/2018MondayLecture 13SLBVincent Freemantle
28/06/2018MondayLecture 14CORPORATE ACTIONS Vincent Freemantle
04/06/2018MondayLecture 15MARKET ABUSE Vincent Freemantle
11/06/2018MondayLecture 16LISTINGS REQUIREMENTS Vincent Freemantle
18/06/2018MondayLecture 17EXCHANGE CONTROL AND DIVIDENDS TAXVincent Freemantle