Introduction to the SAIS Professional Examinations

Welcome to the future of financial market professionalism! The South African Institute of Stockbrokers (SAIS) is proud to introduce a comprehensive suite of professional examinations designed to equip you with the essential skills, knowledge and ethical standards required to excel in the dynamic and evolving financial markets industry.

The Conduct of Financial Institutions (COFI) Bill in South Africa is designed to regulate the conduct of financial institutions to protect consumers and ensure a fair, efficient and transparent financial sector.

The fundamental principles of the COFI Bill are:

1. Fair Treatment of Customers: Financial institutions must treat customers fairly and act in their best interests, ensuring that products and services are appropriate for their needs and circumstances.

2. Transparency and Disclosure: Institutions must provide clear, accurate and timely information to customers about products, services and associated risks, fees and charges.

3. Professionalism and Competence: Employees of financial institutions must be adequately trained and qualified, maintaining a high standard of professionalism and ethical conduct.

4. Risk Management and Governance: Institutions must have robust risk management frameworks and governance structures to identify, manage and mitigate risks effectively.

5. Market Integrity and Stability: Financial institutions should operate in a manner that promotes market integrity and stability, avoiding practices that could lead to systemic risks.

6. Consumer Protection: Strong mechanisms must be in place to protect consumers from unfair practices, ensuring access to redress and compensation in case of misconduct or service failure.

7. Regulatory Compliance: Institutions are required to comply with all relevant laws and regulations, cooperating with regulatory authorities and adhering to supervisory requirements.

8. Financial Inclusion: Institutions should promote financial inclusion by providing access to financial services for all segments of society, particularly underserved and vulnerable groups.

9. Conflict of Interest Management: Institutions must identify and manage conflicts of interest to ensure that they do not compromise the interests of their customers.

10. Culture and Conduct: Financial institutions should foster a culture of good conduct, integrity and accountability, embedding these values in their operational practices and decision-making processes.

These principles aim to enhance consumer confidence in the financial sector, promote financial stability and support sustainable economic growth in South Africa.

Why SAIS Developed Examinations in Line with COFI

The SAIS has developed a suite of professional examinations designed to align with the principles and objectives of the COFI Bill. This initiative underscores our commitment to fostering a financial sector that prioritises consumer protection, ethical conduct and market integrity.

SAIS Examinations: Ensuring Excellence and Integrity

Our examinations are meticulously designed to ensure that financial professionals possess the knowledge, skills and ethical grounding necessary to serve the public effectively. By aligning our educational standards with COFI principles, we are committed to upholding the highest standards of professionalism and integrity in the financial sector. This not only protects savers and investors but also enhances the overall trust in financial markets.

The SAIS is dedicated to fostering a financial ecosystem that promotes a culture of savings and investment, safeguarded by transparent and ethical practices. Our professional examinations are a testament to this commitment, ensuring that the financial services industry operates with the highest standards, ultimately benefiting individuals and contributing to the broader economic prosperity of South Africa.

In order to become a Certified Stockbroker and hold the designation CSb(SA) a series of exams and practical experience in the financial markets is required.  The following Professional Stockbroker Examinations must be completed:

• Legislation;
• Rules Part 1;
• Rules Part 2;
• Taxation in Financial Markets;
• Investment and Portfolio Management; and 
• Finance.

There are a number of entry routes to the Professional Stockbroker Examinations. Exemptions are also available for some of the examinations. These are detailed in the SAIS’ Education Policy.

The Professional Stockbroker Exams for 2024 will be held as follows:

Please note:

• Rules Part 1 is only available in the 1st semester and Rules Part 2 is only available in the 2nd semester.
• The examinations are held in Johannesburg and Cape Town (dependant on demand and number of registrations).
• The times and venues will be confirmed to registered candidates.
• If candidates have not received their registration confirmation, at least 4 days before the exam, they must contact SAIS.
• Access to course materials is granted only once full payment has been made.
• Dates are subject to change.

Candidates who have registered and are absent for an exam will forfeit their exam fee and will have to register for the next exam session.

No exceptions will be considered.