Financial Advisory and Intermediary Services (FAIS Act 21 of 2012)
Do you need help managing compliance within your financial advisory or intermediary services business?
We are authorised by the Financial Sector Conduct Authority (FSCA) to provide the services of an external compliance practice for all categories of license holders across all products defined under the FAIS Act. Our compliance officers have the tools and experience to dentify and assist you to mitigate the risk associated with non-compliance. Our experienced team of legal administrators can also prepare and submit all of our statutory requirements as and when required.
Why do you need a compliance officer?
Whether you are required to appoint or prefer to outsource your compliance function, our authorized compliance officers can guide you on the implementation of policies and procedures that will ensure you meet the regulatory objectives under FAIS and monitor your business on an ongoing basis. Once appointed, our compliance officers implement a risk management plan to identify high risk aspects within your business followed by a compliance monitoring schedule which allows them to systematically address and mitigate those risks.
What makes us different from other compliance practices?
You may have come across the term "risk based regulatory compliance" over the past couple of years. If you don't know what this means please read our article on this topic. We firmly believe in the concept of a principles based approach to compliance where controls, measures and procedures on how to achieve a desired outcome is left for each organisation to determine and should not be dictated to by industry standards.
Here are some of the services that we offer to financial advisors
By conducting a risk assessment on your business we can monitor and assess areas of non-compliance using a risk-based approach.
This process allows us to inspect critical aspects of your business to help identify areas of concern and improve on the overall quality.
We are not an accredited training provider but we do offer on-going awareness training as a free value-added benefit to all our clients.
We have developed our own online system that automatically reminds you of annual returns that the FSCA requires from each FSP.
This is often a big frustration for FSP's, so we have full-time staff to prepare, submit and assist you in finalizing any type of profile change.
As a client you have access to our team of qualified legal experts to discuss and assist you in dealing with matters that may require further investigation.
Frequently Asked Questions
Do you have a minimum contract term to use your services?
No, we do not tie our clients into unnecessary contracts but we do require that you sign our service level agreement which contains valuable protection to both parties.
Do you have offices across all of South Africa?
No, our business processes allows us to conduct all of our monitoring and sampling remotely which reduces overall costs and is far more efficient.
Are you able to provide CPD, COB or Regulatory Exams?
No, we are not an accredited training provider or examination center but we do have a network of reliable and affordable academic institutions that we work very closely with.
Do you only offer FAIS compliance monitoring services?
No, we have a wide variety of regulatory environments that we offer our services in which include Money Laundering, Credit Risk, Information Security, Mining and Agriculture.