Compli-Serve SA

COMPLIANCE; “The importance of culture; we see deficiencies in firm culture as a potential root cause of poor outcomes for retail consumers. As a consequence we will be paying close attention to the culture of firms and how the board has oversight over and challenges management on how a good culture is being embedded throughout the firm.”

Source: Clive Adamson FSA director of supervision

Compli-Poll

What do you think of the new requirements to apply for approval as a compliance officer as contained in Board Notice 127 of 2010? Re Qualifications, experience, additional criteria and Phase approval required...

		Fully agree-long overdue
		I am not sure
		I do not agree with the requirements- the entry level is now set too high
	View Results

Compli-Tip

Compliance Officer RE 40 exams- WHAT YOU NEED TO LEARN (based on initial trials)

1. Board Notice 126/127 of 2010, the actual FAIS Act and the General Codes of Conduct

2. The FAIS Act in relation to lapses, suspensions, withdrawals of licences.

3. Section 19 of FAIS, especially client money and the handling thereof.

4. The CISA principles-CISA GACP

5 Replacements

6 Breach reporting- materiality

7. Disclosures, advice, intermediary services and record keeping

8. BN 127 Phase I and II authorisation for compliance officers;when compliance officers can delegate compliance related tasks.

9. Difference between advice and intermediary services, scenarios- distinguish whether advice or an intermediary service was being given/rendered... “in which of the following circumstances must a person be authorised as a representative…”

10. Financial products.

11. Disproportionate questioning (in my opinion) on lapsing, suspension and withdrawal of licenses.

12. BN 58- making the COI policy available and its contents.

13. display of licenses.

Source: Compli-Serve SA 2012

Welcome to Compli-Serve South Africa

Who are Compli-Serve and what do we offer?

Offers professional support and services to financial professionals, thus enabling businesses to meet the increasing challenge of regulatory compliance risk in today's environment.
We focus on the needs and requirements of both large and small retail financial service companies.
Whatever the size of your business we offer efficient, cost effective services and solutions, backed by experienced and professional staff.
Our wide range of services range from the coaching and support of in-house compliance personnel through to a fully outsourced compliance service and many other related value-added services.