Unit Standard No.12164Page 39
The purpose of the FAIS legislation
This workshop will examine the reason for the introduction of the FAIS legislation.
Outcomes for Module 2:
Reflect on the need for the FAIS legislation and demonstrate an understanding of the history of the legislation.
Demonstrate an understanding of the how FAIS will address the issue that there are different pieces of legislation which apply to different sectors of the industry.
Explain in own words, the terminology used in the FAIS legislation and show the ability to use the terminology in the appropriate context.
Explain the concept of a Financial Services Provider with examples from learner’s own organisation in at least two different ways.
Demonstrate an understanding of the term Financial Product with examples of products in each category
Illustrate what measures are available for consumer protection purposes, as contained in the legislation.
Explain the relationship between different players in the industry and diagrammatically illustrate this, with reference to a particular organisation.
INSMAT final materials31/10/03