Membership – SAIFM

Members

SAIFM strives to promote the financial markets industry and the practitioners who are active in the industry by providing professional training and other activities with a view to promote the objectives specified in the Charter and the ideals of the National Qualifications Framework. Membership therefore should encompass the broad spectrum of activities in the markets and provide the possibility of progression through the various classes of membership.

SAIFM has been recognized by SAQA as a professional body for the South African financial markets in terms of section 13(1) of the National Qualifications Act, 2008. This means that our professional designations are now registered on the National Qualifications Framework:

Member of the Institute of Financial Markets (MIFM)
Fellow of the Institute of Financial Markets (FIFM)

This is a very beneficial development for SAIFM as a professional body and our members and fellows, as it will contribute to skills development and professional service delivery in South Africa whereby ethical conduct and continued professional development will enhance the professionalism and integrity of our industry.

SAIFM will fulfil its role as professional body among others by monitoring that members adhere to SAIFM’s Code of Conduct and fulfil their continued professional development obligations.

Become a full Member of SAIFM.

Click block below to download the Membership application form.

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Affiliate member

Prerequisites

This class of membership is intended to serve as an entry into the financial markets industry and shall be available free of charge to –

any person who enrols for any examination offered by the Institute and applies for affiliate membership by completing his or her details online via the SAIFM Virtual Exam Centre or if not possible, by supplying his or her details to the Institute to enter on his or her behalf and indicate his or her willingness to adhere to the Code of Conduct of the Institute electronically or by signing a document supplied by the Institute; or
any person who is employed in the financial markets industry in any capacity which can be regarded as forming part of the financial markets industry and applies for membership by completing his or her details online or if not possible, by supplying his or her details to the Institute to enter on his or her behalf and indicate his or her willingness to adhere to the Code of Conduct of the Institute electronically or by signing a document supplied by the Institute.

Benefits of affiliate membership

An affiliate member shall be entitled to the following benefits of affiliate membership:

making use of the Institute’s examinations
participating in training workshops for general education or in preparation for examinations with the appropriate discount relevant to this class of membership

attending conferences with the appropriate discount relevant to this class of membership
receiving the Institute’s online magazine, advertisements for positions in the financial markets and any other newsletters that the Institute may issue
participating in any other activities that the Institute may offer to further its main objectives, including continued professional development (CPD) initiatives
attending the annual general meeting to participate in discussions but with no voting rights.

Maintenance of affiliate membership

Annual subscription: none
Continued professional development (CPD): None required
An affiliate member is subject to the Institute’s Charter and Code of Conduct on the same basis as full members and fellows

Full member

Prerequisites

This class of membership is intended to provide recognition to persons who have achieved certain minimum levels of knowledge and understanding of the financial markets by having passed certain examinations required to fulfil particular functions in the financial markets and shall be available, upon payment of an initial and annual membership fee, to any person –

who has relevant work experience (minimum of 6 months)
who applies for full membership by completing his or her details online or if not possible, by supplying his or her details to the Institute to enter on his or her behalf and indicate his or her willingness to adhere to the Code of Conduct of the Institute electronically or by signing a document supplied by the Institute; and
who has passed –
- a minimum of three modules of the Registered Persons Examinations or any other examination or qualification deemed equivalent or superior by the Board of Directors; or
- a minimum of three modules of the Strate Compliance Officers Examinations; or
- any one of the following examinations that qualifies a candidate to be licenced or authorised to exercise certain functions in the financial market industry:
  - JSE Equity Settlement Officer Examination
  - JSE Bonds Settlement Officer Examination
  - JSE Equity Compliance Officer Examination
  - JSE Derivatives Compliance Officer Examination
  - JSE Registered Traders Examination
  - Strate Equities Settlement Officers
  - Strate Bonds Settlement Officers
  - Strate Money Market Settlement Officers examination
Maintenance of membership

Annual subscription: A full member shall maintain his or her membership by paying a subscription fee of R965-00 (VAT inclusive) annually in advance for the year 1 August to 31 July.

Continued professional development (CPD): A member shall comply with the Institute’s CPD requirements in terms of the Institute’s CPD policy to maintain the status of full membership. Please click here to view the CPD policy.

Designation

A full member shall be entitled to using the appellation MIFM after his or her name, on condition that:

the member’s subscription is up to date or arrangements have been made for payment thereof with the Institute. Should payment not be received by the Institute within three months of the commencement of the subscription year, a member’s status shall revert to affiliate membership;
the member complies with the Institute’s CPD requirements; and
the member has not been suspended or expelled in terms of the Charter for contravening the Institute’s Charter or Code of Conduct.

Benefits of full membership

A full member shall be entitled to the following membership benefits:

making use of the Institute’s examinations
participating in training workshops for general financial markets education with the appropriate discount relevant to this class of membership
attending conferences with the appropriate discount relevant to this class of membership
receiving the Institute’s online magazine, advertisements for positions in the financial markets and any other newsletters that the Institute may issue
sending one free vacancy advert per month to the SAIFM mailing list for available positions within their company
participating in any other activities that the Institute may offer to further its main objectives, including continued professional development (CPD) initiatives
attending and voting at the annual general meeting.

To apply for Full membership of SAIFM, please download and complete the application form and send it back accompanied by a comprehensive CV to Susan Jansen van Rensburg and Hayley Pfeifer. SAIFM will then issue you with an invoice which will include the non-refundable application fee of R172-50 (Inclusive of VAT) as well as the fee for the remainder of the membership year according to a sliding scale, depending on the date of application. Upon receipt of proof of payment, the application will be submitted for approval.

Fellows

This class of membership is intended to provide recognition to the most senior and accomplished financial markets practitioners who have applied for fellowship and have been approved by the Board of Directors. The requirements for fellowship are as follows:

The applicant should have been a full member for at least 6 months.
The applicant must have passed the Registered Persons Examination or such equivalent or superior examination as the Board of Directors may approve.
The applicant must have established his or her professional expertise in the financial markets.
This means that –
- The applicant must have been actively involved in the financial markets for at least five years.
- The applicant must have currently a senior or top management position (i.e. a position where decision-making can significantly be influenced).
- The applicant must have acquired such professional expertise and eminence in the field of the financial markets that his/her admission would be in the best interests of SAIFM.
- The applicant must have made a contribution to the financial markets. This means that he or she should comply with two or more of the following:
- He/she should have played a significant role in developing or running one or more markets, instruments, indices, market benchmarks or similar developments or achievements.
- He/she should have an academic qualification superior to and approved by the Board in addition to the minimum examination requirements laid down by the Board.
- He/she should have publications in accredited journals, or textbooks or active participation in conferences (presenting) excluding presentations to clients, excluding presentations made to clients and newsletters for own clients.
- He/she should have played in role in educating financial market participants through formal education, on-the-job training or through contributing the establishment of training institutes.
- He/she should have done pioneering work in relevant fields.

Maintenance of fellowship status

Annual subscription: A fellow shall maintain his or her fellowship status by paying a subscription of R965-00 (VAT inclusive) per annum in advance for the year 1 August to 31 July; and

Continued professional development (CPD): A fellow shall comply with the Institute’s CPD requirements in terms of the Institute’s CPD policy to maintain the status of fellowship.

Designation

A fellow shall be entitled to using the appellation FIFM after his or her name, on condition that:

the fellow’s subscription is paid up to date or arrangements have been made for payment thereof with the Institute. Should payment not be received by the Institute within three months of the commencement of the subscription year, a member’s status shall revert to affiliate membership; and
the fellow complies with the Institute’s CPD requirements
the fellow has not been suspended or expelled in terms of the Charter for contravening the Institute’s Charter or Code of Conduct.

Benefits of fellowship

A fellow shall be entitled to the following benefits of this class of membership:

making use of the Institute’s examinations
participating in training workshops for general financial markets education or in preparation for examinations with the appropriate discount relevant to this class of membership
attending conferences with the appropriate discount relevant to this class of membership
receiving the Institute’s online magazine, advertisements for positions in the financial markets and any other newsletters that the Institute may issue
sending one free vacancy advert per month to the SAIFM mailing list for available positions within their company
participating in any other activities that the Institute may offer to further its main objectives, including continued professional development (CPD) initiatives
voting at the annual general meeting
eligibility to be elected to the Board of Directors

To apply for fellowship, please send a comprehensive CV covering as a minimum the requirements above, accompanied by a letter addressed to the Board of SAIFM providing a motivation of why you would like to become a fellow of SAIFM and why your admission as a fellow would be in the best interests of SAIFM to Christie-anne van Wyngaardt.

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Members

Become a full Member of SAIFM.

Click block below to download the Membership application form.

Affiliate member

Prerequisites

Benefits of affiliate membership

Maintenance of affiliate membership

Full member

Prerequisites

Maintenance of membership

Designation

Benefits of full membership

Fellows

Maintenance of fellowship status

Designation

Benefits of fellowship

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