JSE Equity Settlement Officer's Examination Study Manual

JSE Equity Settlement Officer's Examination

• The competency mark required to pass the JSE Equity Settlement Officer's Examination is not specified.
• The examination consists of multiple-choice questions, with a total of an unspecified number of questions.
• The purpose of including distractors in multiple-choice questions is to test the candidate's knowledge and understanding.

Registration of Settlement Officers

• Each member must ensure the registration of a settlement officer and an alternate settlement officer according to the rules.
• This is to ensure that members have a qualified and authorized person to handle settlement transactions.

Examination Format

• The JSE Equity Settlement Officer's Examination is in a multiple-choice format.
• There is no negative marking in the examination.

Money Broking Transactions

• Only authorized members are allowed to conduct money broking transactions.
• The arrangements for money broking transactions must be properly documented.
• The written mandate for money broking transactions should include the terms and conditions of the transaction.
• The client must communicate acceptance of the terms of the mandate in writing.
• If money broking transactions are conducted in terms of rule 8.150.4.2, the requirements for the written mandate are prescribed by the relevant authority.
• The minimum requirement for a written arrangement is that it must be in compliance with the rules and regulations.
• An essential issue pertaining to corporate actions that must be addressed in the written arrangement is the handling of client elections.

Client Elections

• The client is required to make an election according to the rules and regulations.
• If the client fails to advise the member of their election before the deadline specified, they may forfeit their rights.
• The member cannot exercise voting rights on behalf of the client without discretion, unless explicitly granted.
• If the member is not granted discretion, the communication aspect addressed is the requirement for the member to obtain explicit instructions from the client.