ADVISORY: CATEGORY 1.

Introduction
This Standard Compliance Officer Service is for those Financial Service Providers (FSP’s) that wish to outsource the compliance officer appointment specified in the Financial Advisory & Intermediary Services Act 2002 (FAIS) to a professional services provider.

Compli-Serve will supply an independent and qualified compliance officer as required under Section 17 (1) (a) of the FAIS Act.
The Service consists of several components as described below;

Initial Assessment
This is an essential first step of the compliance risk management process where a detailed assessment of the advisors practice is undertaken by Compli-Serve to assess current readiness levels for the FAIS requirements. It is designed to identify areas of prime concern at an early stage. The assessment is conducted on an interview basis with the key persons in the practice and any other persons as deemed necessary. Feedback and recommendations are presented to the client at a follow up consultation.

FSP FAIS License Review
Compli-Serve will review the current FAIS license to assess levels of integrity and ensure that all persons who are required to license are correctly authorised

Process Implementation
Once readiness levels have been assessed and conclusions reached Compli-Serve will advise upon implementation required and where current processes and documentation would require some amendment. Compli-Serve endeavours to amend rather than replace existing processes.

Monitoring
Compli-Serve utilises various monitoring techniques for this on-going process and is undertaken with our clients during the course of the year.

• Initial follow up
This is generally undertaken approximately 30 days after the initial consultation to assess the level of client compliance with mutually agreed recommendations.

• Regular checks
Quarterly on site visits to assess the progress of implementation. A feedback report is prepared for the client to summarise any action that may be required. Areas that remain outstanding from a previous visit are normally given a higher priority.

• Annual audit
At this final check of the compliance calendar Compli-Serve will in conjunction with the client help prepare the annual compliance report for submission to the Financial Services Conduct Authority.

Client Support Services
Ongoing support to clients is an important component of the Service and is delivered to our client via our Standard , Premium Support that are described in more detail below.

Standard Support
This level of support is delivered via our in house support facilities detailed below and is included in the monthly subscription fee;

• Telephonic support
Initial contact should be made with your designated compliance officer however in urgent matters or where your compliance officer is unavailable clients should call our head office on 087 897 6970. Service available during business hours Monday – Thursday 08:30 to 17:00 and Fridays to 16:00.

• Email support
Send a mail to your designated compliance officer who will and attend to your questions and refer internally for further review if required.

• Web Site Services
Clients are allocated a user name and password to gain access to the protected areas of our website and gain access to the online services.

Premium Support
Premium Support is intended to cover services that are not included in the monthly fee and would typically not be required by the client on a regular basis. Mutually agreed onsite interventions that fall outside the normal schedule of visits.

Premium Support will be quoted on a case by case basis and priced at the ruling Compli-Serve consultancy rate which is available upon request.

PLEASE NOTE
The Service is rendered on an annual contract basis and is subject to the Terms and Conditions of Service. Prices will vary depending on the number of authorised individuals operating under the license entity and the levels of client discretion.

Some premium services are dependent on the availability of specialist resources at the time of request.