SELF-ASSESSMENT OF COMPLIANCE WITH EAAA AND FICA 2018/2019

NOTICE TO ALL PRINCIPALS

SELF-ASSESSMENT OF COMPLIANCE WITH EAAA AND FICA 2018/2019

The Estate Agency Affairs Board (the EAAB) has a mandate to regulate and control certain activities of estate agents in the public interest. In addition, the EAAB is a Supervisory Body of the estate agency profession in terms of the Financial Intelligence Centre Act and is obliged to take all steps required to prevent, identify and report on money laundering and terrorist financing activities in the estate agency sector.  

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Full status estate agents are reminded that they must register for CPD purposes for 2019

The EAAB reminds professional estate agents, excluding only current intern estate agents, that they must register for participation in the 2019 CPD programme by no later than 31 March 2019. This is particularly relevant for those former intern estate agents who obtained full status as estate agents during the course of 2018.

For this purpose estate agents should access the “MyCPD” portal on the EAAB website (at www.eaab.org.za). The first step in the CPD registration process is to complete a Personal Development Plan (“PDP”) for the 2019 year.  Once the PDP is completed to the satisfaction of the participant it must be sent to the EAAB by pressing the “submit” button.  

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Professional Designation Examination November 2018 – Results are available

This serves to advise all estate agents who wrote the Professional Designation Examination (PDE) in November that results are now available on the My EAAB online portal available on www.eaab.org.za

Certificates for those who have passed are being printed and will be sent by no later than the end of February 2019.  

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Press release on the implementation of the Financial Intelligence Centre Act, 38 of 2001 (the FIC Act), by the estate agency sector

The Estate Agency Affairs Board (EAAB), as the Supervisory Body of the estate agency sector, plays a key role in overseeing the implementation of the FIC Act within the sector. It is self-evident that the implementation, compliance and enforcement of the FIC Act, including customer due diligence and the application of the risk-based approach, requires continuous engagement between the EAAB and estate agency enterprises.  

Read morePress release on the implementation of the Financial Intelligence Centre Act, 38 of 2001 (the FIC Act), by the estate agency sector

ENROLMENT FOR THE PROFESSIONAL DESIGNATION EXAMINATION (PDE) TO BE HELD ON 08 November 2018 IS OPEN

This serves to notify all eligible PDE candidates (including intern estate agents who have met the necessary internship, logbook and qualification requirements) that they may now register for the PDE scheduled to take place on 08 November 2018 by accessing the ”MyEAAB” portal.

The closing date for examination registration is 28 October 2018 and no late enrolments and/or payments will be accepted.  

Read moreENROLMENT FOR THE PROFESSIONAL DESIGNATION EXAMINATION (PDE) TO BE HELD ON 08 November 2018 IS OPEN

AGENTS WHO HAVE BECOME DISQUALIFIED DUE TO FAILURE TO COMPLY WITH THE PRESECRIBED STANDARDS OF TRAINING – CPD

Should you have become disqualified as an estate agent due to your failure to comply with the prescribed standard of training, the EAAB is presently not able to issue a fidelity fund certificate to you for the 2019 calendar year. You can, though, remediate the CPD non-compliance by making an application to the EAAB in terms of the proviso to section 27 of the Estate Agency Affairs Act.

If you wish to make such an application you should immediately access the Online Query Management System on the EAAB estate agent’s portal (www.eaab.org.za). Once you have accessed the portal please select “Section 27/CPD disqualification” from the dropdown menu that will appear on the OQMS. Doing so allows you to submit an application to the EAAB to remediate the CPD non-compliance.   

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CPD DISQUALIFICATION APPLICATION PROCESS FLOW

  1. Section 27 of the Estate Agents Affairs Act 112/1976 (The Act) provides that agents are disqualified from being issued with an FFC if…

(vi) (The agent)… does not comply with the prescribed standard of          training;

The Regulation, Standard of Training of Estate Agents, 2008, requires that agents comply with CPD programs instituted by the board.

  1. In terms of the CPD program implemented by the EAAB, all principal and full status agents who are enrolled as such with the EAAB and who have not become deregistered in terms of section 4(1) of the Regulation on Fidelity Fund and Registration Certificates, 2006, read with section 3.1 of Regulation on Trust Accounts, 1977.

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ENROLMENT FOR THE PROFESSIONAL DESIGNATION EXAMINATION (PDE) 16 AUGUST 2018 (Excluding Intern Estate Agents)

Dear Stakeholders

It has come to our attention that the MyEAAB portal notification for the next Professional Designation Examination (PDE) enrolment date is confirming the examination date as 17 August 2018, which is incorrect.

Please note that the correct examination date is Thursday, 16 August 2018. All examination candidates with examination numbers will be allowed entry into the examination venue. In order to receive an examination seat number on time, please enrol on time via the MyEAAB portal (this includes those who have postponed the examination) and make the correct payment using the correct Reference Number.  This must be done before the closing date of 27 July 2018. Examination venues are listed below for your convenience.  

Read moreENROLMENT FOR THE PROFESSIONAL DESIGNATION EXAMINATION (PDE) 16 AUGUST 2018 (Excluding Intern Estate Agents)

2018 AUDIT REPORTS SUBMISSION REMINDER

1 June 2018

The submission deadline of 30 June 2018 for estate agency firms with a financial year-end of 28 February 2018 is imminent and this notification serves as a reminder to principals of these estate agency firms.

In order to ensure compliance with section 29(b), 32(3)(b) and 32(4) of the Estate Agency Affairs Act (the Act), principals are reminded to take note of the following information and also bring it to the attention of the auditors of their estate agency clients:  

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IMPORTANT ANNOUNCEMENT: PROFESSIONAL DESIGNATION EXAMINATION (PDE) ENROLMENT IS NOW OPEN FOR 17 May 2018

This serves to inform eligible PDE candidates (those who have met internship (intern estate agents) and qualification requirements (NQF 4/5 Certification or equivalency exemption) that the enrolment and registration of 17 May 2018 examination is now open on MyEAAB portal, and closing on 26 April 2018no late enrolments and payments will be accepted.  

Read moreIMPORTANT ANNOUNCEMENT: PROFESSIONAL DESIGNATION EXAMINATION (PDE) ENROLMENT IS NOW OPEN FOR 17 May 2018