Posted June 16th, 2009 by Webmaster
Here is quick explanation of terms used in the financial services arena:
FAIS - Financial Advisory and Intermediary Services Act, 2002
This Act pertains to services rendered in certain financial advisory and intermediary services to clients. In effect defining roles, responsibilities and requirements needed to operate in the financial services sector.
How do I become FAIS Compliant? Contact us, we can help you on your way.
FSP -Financial Server Provider
A FSP is a company, organisation or individual that provides any services or financial product to clients.
How do I register as a FSP: Contact us, we can help you on your way.
FSB -Financial Services Board
The Financial Services Board is a unique independent institution established by statute to oversee the South African Non-Banking Financial Services Industry in the public interest.
Need to register with the FSB? Contact us, we can assist you with your FSB application.
How do I contact the FSB?
You can find their details by visit their website at http://www.fsb.co.za
Tags: FAIS, FSB, FSP
Posted June 3rd, 2009 by miranda
Just a quick reminder that the 2009 Annual Compliance Report is now due for submission!
The reporting period is as follows:
1st June 2008 - 31st May 2009
The submission date is no later than the 15th August 2009.
It is imperative that you make time available to allow our compliance officers to complete this important report with you in a timely manner. Our office will be calling to schedule an appointment with the key individual(s) shortly.
If you have any questions please contact the office on 032 946 2921.
Tags: compliance report
Posted May 27th, 2009 by Webmaster
and the risk of FAIS noncompliance…
Here is a recent article from Fin24.com:
Gerry Anderson, deputy registrar for financial services providers at the FSB, said at least 90% of the more than 1 000 financial services providers who were sent letters a month ago had not supplied the information required by the FSB in terms of their licensing conditions.
Don’t risk your business with FAIS noncompliance, we will show you how to comply, train key individuals about the FAIS compliance procedures and keep you up to date with the latest legislation, procedures and required documentation.
Not registered with the FSB? National Compliance will assist you with the FSP application process. Find out more from our experienced & qualified staff.
Tags: FAIS, FSP
Posted March 25th, 2009 by Webmaster
FAIS Compliance
The Determination of Fit and Proper Requirements for Financial Services Providers form an integral part of the FAIS Act and also the basis upon which a person can become licensed or act as a key individual or representative.
In order to become licensed or authorized as a key individual or registered as a representative and to retain such status, the following requirements must be met and sustained:
- Personal character qualities of honesty and integrity
- Competency and operational ability which include -
- Practical experience
- Educational qualifications
- Financial soundness
Download the complete Fit and Proper Requirements on our download page on our website. If you would like further information or have someone contact regarding this please email us on miranda@nationalcompliance.co.za or 032 946 2921 / 49.
Tags: FAIS, Fit and Proper Requirements, FSP
Posted September 22nd, 2008 by Webmaster
National Compliance has recently launched their new website with added features and benefits for compliance service clients.
New Benefits:
Regular Newsletters and the latest industry information
Easy to use website
Updated and revised forms
New features:
Updated look and feel
Online Chat service
List of Contacts
Online application for services
National Compliance is focus on providing on-going compliance services and assist key individuals in financial services (FSP) organisation to comply with the FAIS Act.
Tags: FAIS
