That dreaded date is baring its fangs again.
Representatives
A representative’s Date of First Appointment (DOFA) determines when he or she has to successfully complete the regulatory exam for representatives RE 5.
This means that, if you were appointed between 1 January 2015 and 30 June 2015, you are obliged to pass the RE 5 before 30 June 2017.
Past experience shows that not everyone passes at the first attempt. It is wise, therefore, to leave yourself enough time to study and rewrite before the end of June 2017, should you be required to do so.
For many, sitting the exam for the first time is quite a shock. It is a professional exam, something many underestimate.
The last thing you want to do is discover that you have to study a lot harder than you did, and find that you do not have enough time.
Our advice is that you study as hard as you can to pass at the first attempt. If not successful, at least you will have a far better idea of what to expect, and prepare accordingly.
Compliance officers
A compliance officer working under supervision must pass the applicable regulatory examination within 24 months from the date of approval;
Transitional arrangements apply to the following people:
A person who-
- at 1 September 2016 renders services under supervision as a supervisee; and
was approved between 1 September 2013 and 31 August 2015, must pass the applicable regulatory examination by 31 August 2017.
