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Missed the RE5 deadline? Can you still write it, and what about debarment?

By The PassPath Team · Published · Last updated

Part of: The RE5 exam guide

If it has been more than 2 years since your DOFA (say 4 years) and you have not passed the RE5, you may not render financial services under supervision any more: the exemption ends 2 years after the DOFA (FAIS Notice 86 of 2018, Condition 2(1); FAIS Act s13(2)(a)). You can still write the exam: no rule says so in those words, but it follows from the reappointment rule, because passing is what allows you to be appointed again. A new appointment does not give you a new DOFA, and whether the FSP had to debar you or could simply remove you from its register is not settled.

The FAIS Act says an FSP must debar a representative who does not meet, or no longer complies with, the fit and proper requirements (s14(1)(a)). Compliance providers often advise removing the rep from the register before the deadline instead. The rules do not settle cleanly which is right, so the FSP should take compliance advice before it decides.

To avoid either, plan backwards from the DOFA so the rep passes with time left for a rewrite.

If a rep has a DOFA, by when must they pass the RE5?

Board Notice 194 of 2017 requires representatives to pass the regulatory exam (s26). FAIS Notice 86 of 2018 lets a new rep work before passing, but only under supervision and only for 2 years from the date of first appointment (Condition 2(1)). After that the exemption ends, the requirement applies in full, and the FSP must not let someone who falls short render services (BN 194, s13). How supervision works in the meantime is covered in supervision of representatives under FAIS.

The recognised qualification has a longer deadline: 6 years from first appointment for that product (Notice 86, Condition 2(3)). For both dates worked out from one DOFA, see your RE5 deadline: how to work backwards from your DOFA, and for the wider competence rules, fit and proper requirements for representatives.

How do I check my DOFA date?

Your DOFA is the date you were first appointed as a representative anywhere, not the date you joined your current FSP. The FSP that appointed you records it when it adds you to its register (see how to appoint a representative), so ask your compliance officer or key individual. Once you have it, the DOFA deadline calculator shows your deadline.

It's been 4 years since my DOFA. Can I still do my RE5?

Yes, you can still write the exam. No rule states this directly; it follows from the reappointment rule, under which passing is what lets you be appointed again (BN 194, s26). What you cannot do is keep rendering financial services under supervision, because that exemption only lasts 2 years from your DOFA (Notice 86, Condition 2(1)). Being appointed again by a new FSP does not restart the 2 years (see below), so plan to pass before you take on work that needs the RE5. Booking is explained in how to book the RE5.

Debarment or removal: what does the FSP have to do?

The current wording of the FAIS Act (s14 as substituted by the Financial Sector Regulation Act from 1 April 2018) says an FSP must debar a representative who does not meet, or no longer complies with, the requirements in s13(2)(a), following the fair process in s14(2) and (3) (FAIS Act s14). A debarment is notified to the FSCA within 5 days, with the reasons within 15 days (s14(4)).

Compliance providers advise removing the rep from the register before the deadline, so that they never become a non-compliant representative and no debarment is needed (Masthead, 2025). In 2013, under the earlier wording of s14, Moonstone advised that removal without debarment was enough even after the cut-off date (Moonstone, 2013). Removal ends the mandate, and the change must be reported to the FSCA in writing within 15 days (FSCA FAIS Notice 29 of 2023, Form FSP 5, note 6).

Where this is unclear: we found no current FSCA guidance confirming that removal before the deadline is enough, and the wording of s14 is mandatory. One point in the Act supports removing the rep in time: a debarment requires the reasons to have arisen and become known to the FSP while the person was its representative (s14(1)(b)). Once the deadline passes with the person still on your register, that argument falls away. The FSP should take compliance advice before it decides, from its compliance officer or an external compliance practitioner, and document the decision either way.

Can the person be reappointed later?

Yes. Once they pass the RE5, they meet the exam requirement and can be appointed as a representative again (BN 194, s26), but their original DOFA still governs the other supervision deadlines (Notice 86, Condition 2). If they were debarred, the 12-month wait does not apply where the debarment was because they had not qualified and they have since qualified. The other conditions in Board Notice 82 of 2003 still apply, such as concluded business, resolved complaints and being fit and proper (paragraph 2). The Financial Services Tribunal applied Board Notice 82 of 2003 as the current reappointment rule in July 2024 (Sabeka v First National Bank).

Does the 2-year clock restart?

On the wording, no. The DOFA is "the date on which a person was first appointed as a representative" (Notice 86, paragraph 1), so a new appointment does not create a new DOFA. Masthead says the same (Masthead). We found no FSCA ruling on the point, so treat it as the safe reading rather than settled law.

How do you stop a rep missing the deadline?

Plan the timeline backwards from each rep's DOFA:

  • Record the DOFA correctly. It is the first appointment anywhere, not the date the rep joined you.
  • Allow for results. Results can take up to 20 working days (Moonstone), so the last safe date to write is roughly a month before the deadline. Your RE5 deadline: how to work backwards from your DOFA shows the arithmetic.
  • Allow for registration. Moonstone advises registering at least 11 working days before the exam (Moonstone), so the last safe date to register is earlier still (how to book the RE5).
  • Leave room for a rewrite. Aim for a first attempt early enough that a second sitting still fits inside the 2 years.
  • Check readiness, not just dates. The pass mark is 33 of 50 correct (Moonstone preparation guide, section 8.11). A rep scoring well below it in practice months before the deadline needs a plan now, not in the last quarter.
  • Review the list monthly. Anyone within six months of their deadline without a pass needs a booked sitting.

For a full plan that keeps a whole team clear of the deadline, see how to set up RE5 and RE1 training for your team.

Frequently asked questions

Yes, you can still write it. No rule says so directly, but it follows from the reappointment rule: passing is what allows you to be appointed again. You may not render financial services under supervision past 2 years from your DOFA (Notice 86, Condition 2(1)), and a new appointment does not give you a new DOFA.

Within 2 years of the DOFA, which is how long the supervision exemption lasts (Notice 86, Condition 2(1)). The recognised qualification is due within 6 years of first appointment for that product (Notice 86, Condition 2(3)). The RE5 deadline timeline works out both.

Your DOFA is the date you were first appointed as a representative anywhere, and the FSP that appointed you records it, so ask your compliance officer. Then enter it in the DOFA deadline calculator.

No. The supervision exemption ends 2 years after the DOFA, and the FSP must not let a rep who does not meet the competence requirements render services (Notice 86, Condition 2(1); BN 194, s13).

The FAIS Act says an FSP must debar a rep who no longer meets s13(2)(a) (FAIS Act s14(1)(a)). Compliance providers often advise removing the rep before the deadline instead. The position is not settled, so the FSP should take compliance advice and document its decision.

Yes, once they pass. If the debarment was because they had not qualified, the 12-month wait does not apply once they have, but the other reappointment conditions do (Board Notice 82 of 2003, paragraph 2, which the Financial Services Tribunal applied in 2024).

On the wording of the definition of DOFA, no: it is the date of first appointment. There is no FSCA ruling we could find, so do not rely on a reset.

Sources

To see which reps are close to their deadline, enter their DOFA dates in the free DOFA deadline calculator.

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