Section 43(1) of FICA stipulates that financial services providers should provide training to employees involved in transactions to which FICA applies to enable them to comply with the provisions of FICA and the internal rules applicable to them.
"The format of training is not prescribed and formal training and FICA awareness training are both recognised," says Richard Rattue, managing director of Compli-Serve. "Both methods are designed to raise the level of awareness of employees regarding their obligations under FICA."
The online tests are divided into two categories: