SAQA All qualifications and part qualifications registered on the National Qualifications Framework are public property. Thus the only payment that can be made for them is for service and reproduction. It is illegal to sell this material for profit. If the material is reproduced or quoted, the South African Qualifications Authority (SAQA) should be acknowledged as the source.
SOUTH AFRICAN QUALIFICATIONS AUTHORITY 
REGISTERED UNIT STANDARD: 

Explain legislative and regulatory requirements and their impacts 
SAQA US ID UNIT STANDARD TITLE
117781  Explain legislative and regulatory requirements and their impacts 
ORIGINATOR
SGB Insurance and Investment 
PRIMARY OR DELEGATED QUALITY ASSURANCE FUNCTIONARY
BANKSETA - Banking Sector Education and Training Authority 
FIELD SUBFIELD
Field 03 - Business, Commerce and Management Studies Finance, Economics and Accounting 
ABET BAND UNIT STANDARD TYPE PRE-2009 NQF LEVEL NQF LEVEL CREDITS
Undefined  Regular  Level 5  Level TBA: Pre-2009 was L5  16 
REGISTRATION STATUS REGISTRATION START DATE REGISTRATION END DATE SAQA DECISION NUMBER
Reregistered  2018-07-01  2023-06-30  SAQA 06120/18 
LAST DATE FOR ENROLMENT LAST DATE FOR ACHIEVEMENT
2024-06-30   2027-06-30  

In all of the tables in this document, both the pre-2009 NQF Level and the NQF Level is shown. In the text (purpose statements, qualification rules, etc), any references to NQF Levels are to the pre-2009 levels unless specifically stated otherwise.  

This unit standard does not replace any other unit standard and is not replaced by any other unit standard. 

PURPOSE OF THE UNIT STANDARD 
This Unit Standard is intended for persons who conduct administrative functions in the middle and back office in an Asset Management environment.

A person credited with this Unit Standard will be able to:
  • Identify the different acts and regulatory bodies applicable to the industry.
  • Define the objectives and principles relating to acts and regulations governing financial markets.
  • Explain the impacts and consequences of the acts and regulations governing financial markets. 

  • LEARNING ASSUMED TO BE IN PLACE AND RECOGNITION OF PRIOR LEARNING 
    It is assumed that learners are competent in:
  • Mathematical Literacy at NQF Level 4
  • Communication at NQF Level 4
  • The Unit Standard entitled, "Explain the structure and mechanics of Financial Markets" 

  • UNIT STANDARD RANGE 
    The following legislations and regulations are applicable to achieving the outcomes of this Unit Standard. Legislative: - Income Tax Act, Insurance Act, Pension Funds Act, Stock Exchange Control Act, Unit Trust Control Act, Financial Markets Control Act; Regulations: - SARB, FSB. 

    Specific Outcomes and Assessment Criteria: 

    SPECIFIC OUTCOME 1 
    Identify the different acts and regulatory bodies applicable to the industry. 

    ASSESSMENT CRITERIA
     

    ASSESSMENT CRITERION 1 
    Acts and regulations affecting asset management are explained within the SA markets. 

    ASSESSMENT CRITERION 2 
    Undesirable practices are identified as well as which bodies will regulate this. 

    ASSESSMENT CRITERION 3 
    Corporate governance is explained as it pertains to the financial institutions. 

    ASSESSMENT CRITERION 4 
    Regulatory bodies and their functions are defined within the financial services sector. 

    SPECIFIC OUTCOME 2 
    Define the objectives and principles relating to acts and regulations governing financial markets. 

    ASSESSMENT CRITERIA
     

    ASSESSMENT CRITERION 1 
    Acts versus regulations are explained as defined by the industry. 

    ASSESSMENT CRITERION 2 
    Internal versus external regulations are defined and explained ad per the industry standard. 

    ASSESSMENT CRITERION 3 
    Objectives of financial regulations are defined as determined by the industry. 

    ASSESSMENT CRITERION 4 
    Principles of financial regulations are defined as determined by the industry. 

    SPECIFIC OUTCOME 3 
    Explain the impacts and consequences of the acts and regulations governing financial markets. 

    ASSESSMENT CRITERIA
     

    ASSESSMENT CRITERION 1 
    Investment actions that are impacted by financial acts and regulations are identified as set out in these documents. 

    ASSESSMENT CRITERION 2 
    The impact of the Investment actions relating to the acts and regulations on financial markets are explained as per defined company guidelines. 

    ASSESSMENT CRITERION 3 
    Consequences of not applying the related acts and regulations on financial markets are identified and explained as per set company policy. 


    UNIT STANDARD ACCREDITATION AND MODERATION OPTIONS 
  • An individual wishing to be assessed (including through RPL) against this Unit Standard may apply to an assessment agency, assessor or provider institution accredited by the relevant ETQA, or an ETQA that has a Memorandum of Understanding with the relevant ETQA.
  • Anyone assessing a learner against this Unit Standard must be registered as an assessor with the relevant ETQA or with an ETQA that has a Memorandum of Understanding with the relevant ETQA
  • Any institution offering learning that will enable achievement of this Unit Standard or assessing this Unit Standard must be accredited as a provider with the relevant ETQA or with an ETQA that has a Memorandum of Understanding with the relevant ETQA
  • Moderation of assessment will be conducted by the relevant ETQA at its discretion. 

  • UNIT STANDARD ESSENTIAL EMBEDDED KNOWLEDGE 
  • Legislation related to the industry
  • The impacts the different pieces of legislation have on the industry
  • The objective of the various pieces of legislation. 

  • UNIT STANDARD DEVELOPMENTAL OUTCOME 
    N/A 

    UNIT STANDARD LINKAGES 
    N/A 


    Critical Cross-field Outcomes (CCFO): 

    UNIT STANDARD CCFO IDENTIFYING 
    Identify and solve problems using critical and creative thinking by identifying which pieces of legislation will impact financial institutions. 

    UNIT STANDARD CCFO COLLECTING 
    Collect, analyse, organise and critically evaluate information of various acts and regulations so as to determine what impact and consequences they may have on financial markets. 

    UNIT STANDARD CCFO DEMONSTRATING 
    Demonstrate the world as a set of interrelated systems by recognizing how the impact that the related legislation has on the financial sector. 

    UNIT STANDARD ASSESSOR CRITERIA 
    N/A 

    REREGISTRATION HISTORY 
    As per the SAQA Board decision/s at that time, this unit standard was Reregistered in 2012; 2015. 

    UNIT STANDARD NOTES 
    Supplementary information:

    The following legislation is central to the Unit Standard:
  • Stock Exchanges Control Act
  • Financial Market Control Act
  • Pension Funds Act (Regulation 28 thereto)
  • Long-term Insurance Act and Schedules thereto dealing with "asset spread" requirements
  • Income Tax Act (Section 24J, 9B, 29, CGT)
  • Uncertificated Securities Tax Act.

    Terminology:

    Terminology relating to the Financial Markets can be found in "Who owns Whom's Dictionary of Stock Market Terms". ISBN 1-919850-04-X

    Legislative:
  • Income Tax Act
  • Insurance Act
  • Pension Funds Act
  • Stock Exchange Control Act
  • Unit Trust Control Act
  • Financial Markets Control Act

    Regulatory:
  • SARB - South African Reserve Bank
  • FSB - Financial Services Board 

  • QUALIFICATIONS UTILISING THIS UNIT STANDARD: 
      ID QUALIFICATION TITLE PRE-2009 NQF LEVEL NQF LEVEL STATUS END DATE PRIMARY OR DELEGATED QA FUNCTIONARY
    Elective  61589   National Certificate: Banking  Level 5  Level TBA: Pre-2009 was L5  Reregistered  2021-06-30  As per Learning Programmes recorded against this Qual 


    PROVIDERS CURRENTLY ACCREDITED TO OFFER THIS UNIT STANDARD: 
    This information shows the current accreditations (i.e. those not past their accreditation end dates), and is the most complete record available to SAQA as of today. Some Primary or Delegated Quality Assurance Functionaries have a lag in their recording systems for provider accreditation, in turn leading to a lag in notifying SAQA of all the providers that they have accredited to offer qualifications and unit standards, as well as any extensions to accreditation end dates. The relevant Primary or Delegated Quality Assurance Functionary should be notified if a record appears to be missing from here.
     
    1. African Bank Ltd 
    2. Bidvest Bank 
    3. Compuscan Academy 
    4. Cornerstone Performance Solutions (Pty) Ltd 
    5. Full Value Financial Services (Pty) Ltd 
    6. The Facilitation Workshop 
    7. The Institute of Literacy Advancement 



    All qualifications and part qualifications registered on the National Qualifications Framework are public property. Thus the only payment that can be made for them is for service and reproduction. It is illegal to sell this material for profit. If the material is reproduced or quoted, the South African Qualifications Authority (SAQA) should be acknowledged as the source.