What is DOFA and how do i check it?

Do you ever feel as though the financial industry is a sea of acronyms? Just to name a few, there is the FSP, FSCA, and DOFA. This article aims to provide some clarification on at least one of these abbreviations: DOFA, and assist in providing the answers to the queries What is DOFA and how do I check mine?

What is DOFA?

DOFA is an acronym for Date of First Appointment. This is the date that a person was first appointment as a Representative. This date remains the same even if the Representatives switches Financial Services Provider. It's similar to a date of birth in that, as I'd say in class, it doesn't matter what country you're in. Your Date of First Appointment remains the same regardless of the Financial Services Provider you are employed with.

Why is DOFA important?

Representatives must comply with the various Fit and Proper requirements by the deadlines based on DOFA. For instance, Representatives must pass the RE05 Exam within 2 years of DOFA, and Representatives in Category I and IV FSPs have 6 years from the DOFA to get a recognized qualificationTherefore, employers will want to ensure that they only appoint candidates who have already met their fit and appropriate requirements within the applicable time period or who still have time to do so.

How can I check DOFA?

To request their DOFA record, a representative needs to email dofa@fsca.co.za with their full names and ID numbers.

Employers can sign up for FAIS E-Services on the FAIS website (located in the Regulated Entities --> E-Services section). 

After registering, the employer must input the applicant's ID number to examine the DOFA, Category, and sub-categories the applicant has worked with and the dates that the application was registered for each sub-category.

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