Mr. A had served as a representative at Mantra Brokers from April 2014 to February 2015, before leaving the industry. Subsequently in August 2018, he applied at Life Brokers to be appointed for a similar position. He had however not completed RE5 when he left his previous role. Life Brokers were not able to hire the candidate due to him not having achieved RE5 qualifications by June 30th, 2016; consequently, the timeline in which he needed to meet the necessary prerequisites had expired.
For applicants who are not aware of their prior appointment as a representative, it is important to ask them for their DOFAs in order to verify the information. If you need to confirm if someone has a DOFA, you can reach out to the FSCA at firstname.lastname@example.org or provide the FSP with permission to obtain this information on your behalf. The FSCA will handle all details confidentially and only authorize third parties that meet specific criteria to view it.
When confirmation of a DOFA is requested, the report will reflect the following information:
Under no circumstances can the FSCA modify a DOFA report unless it is proven to contain inaccurate information. To dispute incorrect information on a DOFA report, an affidavit needs to be signed confirming it is false, as well as confirmation from the Key Individual of the FSP that the information associated with the person is incorrect. The Financial Sector Conduct Authority is able to ask for any additional information as necessary and will weigh all the facts before making a decision on changing the Date of Final Acceptance.