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: 

Operate within the ethical, professional and legal limits of the South African and international legislation and codes of practice regulating the financial markets 
SAQA US ID UNIT STANDARD TITLE
12886  Operate within the ethical, professional and legal limits of the South African and international legislation and codes of practice regulating the financial markets 
ORIGINATOR
SGB HET Accountancy and Financial Management 
PRIMARY OR DELEGATED QUALITY ASSURANCE FUNCTIONARY
FASSET - Financial and Accounting Services SETA 
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 6  Level TBA: Pre-2009 was L6  20 
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 
Persons credited with this Unit Standard can identify the Acts that pertain to the Financial Markets, can locate information in them on request and comply with the legislative requirements contained therein. 

LEARNING ASSUMED TO BE IN PLACE AND RECOGNITION OF PRIOR LEARNING 
It is assumed that a learner attempting this Unit Standard has achieved English and Mathematics at Grade 12 level or equivalent. 

UNIT STANDARD RANGE 
"The legislation regulating the financial markets institutions" includes:
  • The Financial Markets control Act No. 55 of 1989
  • The Stock Exchanges Control Act No.1 of 1985
  • The Inspection of Financial Institutions Act No. 38 of 1984
  • The Financial Institutions (Investment of funds) Act No. 39 of 1984
  • The Custody and Administration of Securities Act No.85 of 1992
  • The Insider Trading Act No. 135 of 1998
  • The Marketable Securities Tax Act No. 32 of 1948
  • The Stamp Duties Act No.77 of 1968
  • The Uncertified Securities Tax Act No. 31 of 1988
  • The Schedule issued in terms of the Banks Act No. 94 of 1990
  • The Exchequer and Audit Act
  • The South African Reserve Bank Act
  • The Land Bank Act
  • The Banks Act
  • The Companies Act
  • The Bills of Exchange Act
  • The BIS Capital Accord of 1988
  • The New Basel capital Accord of 2001
  • The BIS Market Risk Amendment of 1996
  • The EU Capital Adequacy Directive

    "Statutory prescriptions" are those affecting:
  • the exchanges and their business
  • the instruments
  • market participants
  • controlling parties

    "Major International Financial Centres and Regulatory Institutions" include:
  • The London Stock Exchange
  • The New York Stock Exchange
  • The Tokyo Stock Exchange
  • The Singapore Stock Exchange
  • The International Organisation of Securities Commission
  • The United States Securities and Exchange Commission
  • The Financial Services Authority (UK)
  • The NASDAQ (National Association of Securities Dealers Automated Quotation System) 

  • Specific Outcomes and Assessment Criteria: 

    SPECIFIC OUTCOME 1 
    Demonstrate an understanding of the regulations and legalities of the South African financial system 

    ASSESSMENT CRITERIA
     

    ASSESSMENT CRITERION 1 
    1. Regulatory objectives, structures, principles, philosophy and historical perspectives are explained. 

    ASSESSMENT CRITERION 2 
    2. Statutory prescriptions affecting the Financial Markets are identified. 

    SPECIFIC OUTCOME 2 
    Locate information within the legislation regulating the financial markets 

    ASSESSMENT CRITERIA
     

    ASSESSMENT CRITERION 1 
    1. The relevant Act is identified. 

    ASSESSMENT CRITERION 2 
    2. The relevant information is located. 

    ASSESSMENT CRITERION 3 
    3. The information is interpreted as intended by the legislation. 

    SPECIFIC OUTCOME 3 
    Comply with the legislation regulating the financial markets 

    ASSESSMENT CRITERIA
     

    ASSESSMENT CRITERION 1 
    1. Custody arrangements are adhered to. 

    ASSESSMENT CRITERION 2 
    2. Prohibitions are complied with. 

    ASSESSMENT CRITERION 3 
    3. Conflicts of Interest are avoided. 

    ASSESSMENT CRITERION 4 
    4. All regulations are adhered to. 

    ASSESSMENT CRITERION 5 
    5. Enforcement measures are understood. 

    SPECIFIC OUTCOME 4 
    Demonstrate ethical and professional behaviour 

    ASSESSMENT CRITERIA
     

    ASSESSMENT CRITERION 1 
    1. An understanding of the principles and essential features of ethics and morality is demonstrated. 

    ASSESSMENT CRITERION 2 
    2. The ethical and professional standards identified in the Financial Markets Control Act and the Stock Exchanges Control Act are demonstrated. 

    ASSESSMENT CRITERION 3 
    3. The Code of Conduct of the South African Institute for Financial Markets is adhered to Professional obligations are met. 

    ASSESSMENT CRITERION 4 
    4. The Codes of Conduct of major International Financial Centres and Regulatory Institutions are consulted when necessary. 


    UNIT STANDARD ACCREDITATION AND MODERATION OPTIONS 
    Accreditation and moderation:

    Accreditation for this Unit Standard shall be from the relevant Education and Training Quality Assurer through formative and summative assessment by a registered Assessor. Assessment should be contextual and be conducted in the workplace as far as possible.

    The relevant NSB and SGB should be notified of any feedback related to this qualification.
  • Assessors must be registered as an Assessor with the relevant ETQA
  • Moderators must be registered as assessors with the relevant ETQA
  • Training providers must be accredited by the relevant ETQA
  • Moderation should include both internal and external moderation where applicable
  • The relevant ETQA will co-ordinate all moderation activities in accordance with their policies and procedures 

  • UNIT STANDARD ESSENTIAL EMBEDDED KNOWLEDGE 
    A demonstrated understanding of:
  • The location of the Acts, Codes and Guidelines relating to the Financial Markets
  • The terminology relating to the Financial Markets and instruments 


  • Critical Cross-field Outcomes (CCFO): 

    UNIT STANDARD CCFO ORGANISING 
    Organize and manage oneself and one's activities responsibly and effectively. For example, complying with the rules and directives requires one to behave ethically and responsibly. 

    UNIT STANDARD CCFO COLLECTING 
    Collect, analyse, organise and critically evaluate information. For example, one needs to constantly evaluate information and activities in the workplace and assess whether the rules and directives are being adhered to. 

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

    UNIT STANDARD NOTES 
    Terminology:

    Terminology relating to the Financial Markets can be found in "Who owns Whom's Dictionary of Stock Market Terms" published by Who owns Whom / PSG Online in 2001. ISBN 1-919850-04-X

    Values:

    The use of tasks and materials in the learning event plan should not discriminate against learners on any grounds proscribed in the Bill of Rights and should promote the orientations outlined in the critical cross-field outcomes.

    Supplementary information:

    Not all the legislation may be relevant to a particular learner, and not all need to be taught or assessed. The five most relevant Acts to the Learner's situation should be selected for these purposes.

    Domain:

    Financial Markets 

    QUALIFICATIONS UTILISING THIS UNIT STANDARD: 
      ID QUALIFICATION TITLE PRE-2009 NQF LEVEL NQF LEVEL STATUS END DATE PRIMARY OR DELEGATED QA FUNCTIONARY
    Core  23653   National Diploma: Financial Markets  Level 6  NQF Level 06  Reregistered  2023-06-30  FASSET 
    Elective  50481   National Certificate: Financial Markets and Instruments  Level 6  Level TBA: Pre-2009 was L6  Reregistered  2023-06-30  BANKSETA 


    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. Absa Learning & Development 
    2. Felix Risk Training Consultants 
    3. Full Value Financial Services (Pty) Ltd 
    4. Milpark Education (Pty) Ltd (previously known as Milpark Business School) 
    5. Nedbank Ltd 
    6. The Academy of Financial Markets 
    7. The Facilitation Workshop 
    8. 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.