South Africa has faced many changes in the last 20 years. There are some glaringly obvious ones such as democracy while others, such as the considerable increase of the legislative and regulatory requirements in the financial-services industry, are more subtle. Both however, have far-reaching consequences for both individuals and businesses. In Schaeffer's keynote address at the 2011 Financial Planning Convention, the global trends currently influencing the financial-planning profession were pointed out. These included the move towards a more relationship-based approach between financial planners and their clients, with holistic service offerings and regulatory change. Currently close to 100 000 Financial Services Board (FSB)-registered brokers/ advisors/ planners/ consultants claim to offer financial advice. Of these representatives only 4 600 (approximately) are Certified Financial Planner® professionals. The Financial Planning Institute of Southern Africa (FPI) maintains that the regulatory environment governing the financial industry is dynamic. Coupled with a tumultuous economic environment, this enforces the importance of an expert to assist individuals and businesses in planning for the future. The primary purpose of the Financial Advisory and Intermediaries Services Act (FAIS Act) is to: 1. protect the client against indecorous conduct by the financial service provider (FSP) and its representatives when providing financial advice and/or rendering intermediary services to clients; 2. ensure economic efficiency of the industry; 3. ensure that clients of FSPs are provided with sufficient information regarding their financial products, the representatives selling the products, the represented FSP and the product provider offering the products. The effect of the FAIS Act is that key individuals and representatives are now being held responsible for their actions, which may include providing incorrect information or not having sufficient qualifications or experience. According to the FSB the FAIS Fit and Proper requirements determine a set of requirements that all FSPs, key individuals and representatives need to comply with. The Determination of Fit and Proper Requirements of 2008 outlines the categories of fit and proper requirements for FSPs, their key individuals and representatives. The categories of the FAIS Fit and Proper requirements are: - honesty and integrity requirements for FSPs, key individuals and representatives; - competency requirements of FSPs, key individuals and representatives; - experience requirements of FSPs, key individuals and representatives; - qualifications requirements of key individuals and representatives; - regulatory examinations requirements of key individuals and representatives; - continuous professional development requirements of FSPs, key individuals and representatives; - operational ability of FSPs, key individuals and representatives; and - solvency of FSPs. The empirical study of the research was conducted nationally, within South Africa. The focus of the study was to investigate the perception of financial planners with regard to the regulatory and legislative prescriptions of the financial-services industry. The general objective of the study is to provide a quantitative measure of the perception of financial planners of the effect that the legislative and regulatory requirements in South Africa have on the ethicality of the financial-planning industry. To achieve this objective, the empirical study focussed on the responsibilities of financial-services providers and the FAIS fit and proper requirements as set out by the FAIS Act. The population identified for the empirical study consisted of financial planners that provide advisory and/or intermediary services in South Africa. The population of the study consisted of the full advisory complement, 826, which form part of the advisory division of a major South African financial-services provider. These financial planners are located across South Africa, in all nine provinces and in rural and metropolitan areas. Based on the result of the adjusted sample size equation, the required sample size for the study is reduced from 266 to 201. A total of 260 responses were received for the study which ensures a high level of accuracy is achieved from the findings of the research. The results of the empirical study provide ample proof that financial planners support the necessity and specificity of the FAIS fit and proper requirements as defined by the FAIS Act. Additionally, the financial planners agree that the determinants of the FAIS Act are not only beneficial to the sustainability and ethicality of the industry, but also support the success of the planner and ultimately ensure that clients receive the best possible financial advisory and/or intermediary services. / MBA, North-West University, Potchefstroom Campus, 2015

South Africa has faced many changes in the last 20 years. There are some glaringly obvious ones such as democracy while others, such as the considerable increase of the legislative and regulatory requirements in the financial-services industry, are more subtle. Both however, have far-reaching consequences for both individuals and businesses. In Schaeffer's keynote address at the 2011 Financial Planning Convention, the global trends currently influencing the financial-planning profession were pointed out. These included the move towards a more relationship-based approach between financial planners and their clients, with holistic service offerings and regulatory change. Currently close to 100 000 Financial Services Board (FSB)-registered brokers/ advisors/ planners/ consultants claim to offer financial advice. Of these representatives only 4 600 (approximately) are Certified Financial Planner® professionals. The Financial Planning Institute of Southern Africa (FPI) maintains that the regulatory environment governing the financial industry is dynamic. Coupled with a tumultuous economic environment, this enforces the importance of an expert to assist individuals and businesses in planning for the future. The primary purpose of the Financial Advisory and Intermediaries Services Act (FAIS Act) is to: 1. protect the client against indecorous conduct by the financial service provider (FSP) and its representatives when providing financial advice and/or rendering intermediary services to clients; 2. ensure economic efficiency of the industry; 3. ensure that clients of FSPs are provided with sufficient information regarding their financial products, the representatives selling the products, the represented FSP and the product provider offering the products. The effect of the FAIS Act is that key individuals and representatives are now being held responsible for their actions, which may include providing incorrect information or not having sufficient qualifications or experience. According to the FSB the FAIS Fit and Proper requirements determine a set of requirements that all FSPs, key individuals and representatives need to comply with. The Determination of Fit and Proper Requirements of 2008 outlines the categories of fit and proper requirements for FSPs, their key individuals and representatives. The categories of the FAIS Fit and Proper requirements are: - honesty and integrity requirements for FSPs, key individuals and representatives; - competency requirements of FSPs, key individuals and representatives; - experience requirements of FSPs, key individuals and representatives; - qualifications requirements of key individuals and representatives; - regulatory examinations requirements of key individuals and representatives; - continuous professional development requirements of FSPs, key individuals and representatives; - operational ability of FSPs, key individuals and representatives; and - solvency of FSPs. The empirical study of the research was conducted nationally, within South Africa. The focus of the study was to investigate the perception of financial planners with regard to the regulatory and legislative prescriptions of the financial-services industry. The general objective of the study is to provide a quantitative measure of the perception of financial planners of the effect that the legislative and regulatory requirements in South Africa have on the ethicality of the financial-planning industry. To achieve this objective, the empirical study focussed on the responsibilities of financial-services providers and the FAIS fit and proper requirements as set out by the FAIS Act. The population identified for the empirical study consisted of financial planners that provide advisory and/or intermediary services in South Africa. The population of the study consisted of the full advisory complement, 826, which form part of the advisory division of a major South African financial-services provider. These financial planners are located across South Africa, in all nine provinces and in rural and metropolitan areas. Based on the result of the adjusted sample size equation, the required sample size for the study is reduced from 266 to 201. A total of 260 responses were received for the study which ensures a high level of accuracy is achieved from the findings of the research. The results of the empirical study provide ample proof that financial planners support the necessity and specificity of the FAIS fit and proper requirements as defined by the FAIS Act. Additionally, the financial planners agree that the determinants of the FAIS Act are not only beneficial to the sustainability and ethicality of the industry, but also support the success of the planner and ultimately ensure that clients receive the best possible financial advisory and/or intermediary services. / MBA, North-West University, Potchefstroom Campus, 2015

金融機構健全經營、信用分配決策之公平性，經營階層能否以誠實、正當的方式，信守並履行對客戶之承諾，對人民財產保障、金融秩序穩定、國家經濟發展之影響甚鉅。職是之故，各國金融監理主管機關乃對金融機構的各項營業活動與以監理並採行必要之行政處分或導正措施，甚且於相關法規中，課予其善良管理人之法定義務，以確保民眾之財產權。然而，一家金融機構能否有效健全經營，主要關鍵仍在於經營者之良窳，即其負責人是否具備充足的專業知識與良好的道德品性，因此主管機關對金融機構負責人所訂的「適格性」條件，必然較一般企業的負責人更為嚴格。 本文從金融監理機關之行政處分與爭訟出發，先了解主管機關的組織架構、運作機制及行政權限，進而探討其行政處分範圍。考量行政機關之行政行為必須符合一般法律原則與行政程序法之規定，因此進一步檢視金融處分應如何適用一般法律原則，及如何確保能踐正當法律程序；本文亦從日、德、英、美等四個金融市場發展歷程較久、且法制較為完備的國家，窺探其相關法令中，對於金融機構負責人資格審查之規範重點與實務操作，並與我國相關法規中之規定與監理實務進行比較，冀從中獲得啟發。 為了解相關行政處分之司法實務觀點，進而將透過臺北高等行政法院與最高行政法院，就金融監督管理委員會對金控公司、銀行、保險公司、證券公司之負責人，所作成不適格的若干行政處分案件之司法判決，加以整理。冀能從司法實務中釐清相關爭點。最後擬從主管機關對金融機構負責人適格性審查之前、中、後三個階段，透過相關制度的設計即審查前能建立相關審查原則，且對於若干不確定法律概念之法規要件，力求客觀與明確；於審查時，能就個案事實與法規要件加以調和，作成妥適的行政決定；而對於通過適格性審查後之負責人，其後如有不符合適格性條件，應如何為適當之處置，冀就此一類型之行政事件，建立最佳行政處理程序。