Who should attend

• All Financial Service Providers (FSPs), Key Individuals, and Representatives appointed post 01 April 2018.
• FSPs, Key Individuals, and Representatives applying for authorization, approval, or appointment for new financial product categories post 01 April 2018.
• Representatives under supervision as of 01 April 2018 or appointed under supervision post 01 April 2018.
• Specific exemptions are available based on the nature and conduct of the business.
• Reach out to your compliance officer if you have any uncertainties.

General Requirements

An FSP, key individual and representative must obtain the required competence to render the financial services for which it is authorised. To do this, it must comply with the minimum COB requirements set out below.

In addition, you must ensure that the type and combination of COB activities undertaken are relevant to the functions and roles you perform, contribute to the skill, knowledge, expertise and professional and ethical standards required and address any identified needs or gaps in:

• the technical knowledge of the FSP, key individual and representative,
• he generic knowledge and understanding of the environment in which the financial service is rendered or managed or overseen,
• the knowledge and understanding of applicable laws, and
• adequately considers changing internal and external conditions relevant to and the financial products for which the FSP and its members are authorised.

Specific COB Requirements

An FSP must establish and maintain policies and procedures on COB that indicates how the FSP, key individual and representative will –

• maintain knowledge and skills that are appropriate for their activities and responsibilities,
• update their knowledge and skills; and
• develop new knowledge and skills to assist with their current functions and responsibilities or functions contemplated in the future.

In addition, training plans must be drawn up for each COB course, valid for one calendar year from date of registration, to ensure that the COB, and further supported by CPD courses provided by MBSE is relevant and appropriate for the services rendered by the FSP, key individual and representative,

• addresses any identified needs, knowledge and skills gaps, and
• continually improves the professional standards and practices of the FSP, its key individuals and representatives.