CK 2008/157756/23 | Practice Number 1307
Every financial services provider (FSP) must comply with the provisions of FAIS as stipulated by the Financial Services Board(FSB). National Compliance assists Financial Services Providers in keeping FAIS compliance, not as a once off but rather on an ongoing basis.
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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.
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 [...]
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 [...]
Tags: FAIS, Fit and Proper Requirements, FSP
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