The definition of ‘public-facing staff’ – known as a PCP – is being extended for credit intermediation. This is the consequence of a legislative amendment that enters into force on 1 August 2022.
The main impact of this legislative amendment is at the level of professional knowledge. Persons who are considered equivalent to a PCP and those who carry out such functions with a credit provider or credit intermediary as at 1 August 2022 have a period of 12 months to meet the requirements in terms of professional knowledge.