Regulatory Alerts2023-09-28
Added · Updated
Notice on Competency Requirements for Representatives of Financial Advisers
This Notice establishes minimum entry, examination, and continuing professional development requirements for appointed representatives of licensed and exempt financial advisers, taking effect on 1 April 2024. It mandates that individuals must be at least 21 years old and hold specified academic qualifications, unless exempted based on prior service or specific transitional conditions. Representatives must pass the RES5 module and relevant Capital Markets and Financial Advisory Services Examination modules corresponding to their advisory services, with detailed exemptions and transitional arrangements provided for existing personnel.
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