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Financial Services Board recognises TUT qualifications 
 
 
The Financial Services Board (FSB) just granted recognition status to two programmes offered by the Tshwane University of Technology’s Department of Management and Entrepreneurship. Owing to the recognition, TUT Alumni in possession of National Diplomas in Administrative Management as well as Financial and Credit Management, are now authorised to work as full representatives and advisors in the financial sector. 

According to Dr Kgomotso Masilo, Head of the Department, the FSB recognition proves that the qualifications offered by the university meet and fulfil the requirements as set by the Financial Advisory and Intermediary Service (FAIS) Act (37 of 2002). She explained that he FAIS Act affects the way in which a financial service provider (FSP) conducts business and interacts with Consumers. It also guides consumers in their daily dealings with their chosen product providers.

The FAIS Act regulates the activities of all financial services providers (FSP) who give advice or provide intermediary services to consumers of certain financial products. It requires that FSPs be licensed and serves as a professional code of conduct with specific enforcement measures. All FSP’s must ensure that they comply with the legislation, and with certain specific fit and proper requirements as stipulated in the act.

Dr Masilo added that the registration with and recognition by the FSB add to the marketability of these TUT qualifications and strengthen the position of the University in the highly competitive financial sector. “In addition, the recognition provides an assurance to the market and consumers that representatives and employees of Financial Service Providers will offer services that meet the professional and legal requirements, in an array of financial products, ranging from insurance and funeral brokers to investment institutions, financial planning entities and call centres.”

For more information on the Tshwane University of Technology please contact Willa de Ruyter on tel: 0123 82 5352 or send an email to deruyterw@tut.ac.za.