Compli-Serve is an independent specialist provider of advisory and operational compliance services to the financial services sector.
Compli-Serve was originally established in March 2003 by current Managing Director, Richard Rattue, and licensed by the Financial Sector Conduct Authority to render compliance services on 27th June 2003.
Today we are a leading independent provider of regulatory compliance services to the financial services sector. The company has its head office located in Cape Town and has regional offices in Pretoria, Durban and Bloemfontein and services clients in all major business nodes around the country.
The Compli-Serve Group consists of licensed entities as below:
Compli-Serve SA (Pty) Ltd CO 194
Compli-Serve Cape (Pty) Ltd CO 6795
Compli-Serve Gauteng (Pty) Ltd CO 6797
Compli-Serve KZN (Pty) Ltd CO 6798
We draw on both local and international trends in developing compliance services designed to meet the best practice compliance needs of today’s financial services professionals who operate in an ever more regulated environment.
Compli-Serve provides compliance-related services across a wide spectrum of the financial services sectors, including long-only asset managers, financial advisors, hedge fund managers, private equity funds, insurers, underwriting managers, insurance intermediaries and direct marketers.
We work with both local and international clients and has a wide range of experience in the implementation and ongoing monitoring of financial services regulatory compliance. Through our diversified local and offshore client base, we have developed considerable skills and expertise with the implementation and monitoring of regulatory compliance.
We recognise the need for the business to contain the costs of compliance whilst meeting the increasing challenges of regulatory compliance. We strive to keep our services focused without compromising the delivery our clients have come to expect.
STRATEGY & VISION
To be a major provider of professional regulatory compliance services to the financial services industry of Southern Africa.
To deliver best practice compliance services based on the needs of our clients who operate in an ever more regulated environment. This will be achieved through implementing effective business solutions, combining appropriate services and skills.
• To maintain open and honest communication with clients, business partners, staff and shareholders.
• To honour commitments and promises.
• To have mutual trust and respect.
• To deliver and receive fair value.
Business Goals & Objectives
• To ensure that we engage and communicate with our clients and stakeholders;
• Expand offerings and solutions to meet the needs of our clients;
• Ensure all Compliance Officers are kept abreast with key international and local developments;
• Invest in developing previously disadvantaged individuals through our Compliance Officer Internship Programme;
• Comply as a company with all relevant legislation and seek to ensure our clients are compliant as well;
• Strive to provide service excellence;
• Instil sound project management principles in our day-to-day execution of our work;
• Improve on our internal policies and procedures to ensure an evidence-based approach;
• Maintain a clean audit from the Financial Sector Conduct Authority;
• Remain in good standing with the regulatory authorities;
• Be part of industry work groups to assist with comment and input on relevant legislation within South Africa;
• Be involved through a social responsibility project on an annual basis.
Compli-Serve recognises that the winds of change are blowing and has taken steps to ensure that our services are relevant to our client needs. The rule-based model is giving way to a principle-based model and this will significantly impact the way compliance is undertaken. Significant research has been undertaken over the last twelve months to map our services to both regulatory and industry direction. As a result of this exercise, Compli-Serve has focused on developing principles-based offerings for Financial Services Providers.
Compli-Serve follows a risk-based approach to compliance service rollout using experienced Compliance Officers with relevant industry knowledge. This in turn allows our clients to focus on their core skills and conduct profitable and sustainable businesses.
By conducting a risk assessment and obtaining a compliance risk rating of a client’s business model, we are able to identify the gaps within the business. Thereafter we are able to amend current or develop new policies and procedures and assist and guide in the implementation of such policies and procedures with effective risk-mitigating controls.
The above will provide clients with assurance that all identified regulatory risks have been addressed and provide clients with peace of mind to focus on creating and maintaining a sustainable business.
The company has successfully delivered compliance services to a wide variety of clients covering key financial services legislation. We have rolled out the Compli-Serve TestZone, providing online testing solutions. Clients also receive our industry-leading newsletter, Juta CompliNEWS, which keeps them abreast of legislative updates. We have facilitated onsite training and consulting to our clients and we have a nationwide team providing professional services to over 350 local and offshore firms.
PRODUCTS & SERVICES
Services & Products
• Compliance Consulting Onsite reviews;
• Compliance Risk Management Plans;
• Compliance Risk Reviews;
• Assistance with complaints and interaction with the Ombud’s office;
• Assessment and advice on qualifications and skills;
• Comprehensive insurance regulatory compliance offering;
• Formal written feedback reports;
• Assistance with implementation of compliance processes and documentation.
• External Compliance Officer appointments;
• Telephonic and email support;
• Processing of license profile changes; and
• Regulatory license assistance and submissions.
Services offered by Compli-Serve
|Regulatory Compliance||• Market Conduct;
• Advisory – Category 1;
• Discretionary – Category 2;
• Hedge Fund – Category 2A;
• Administrative – Category 3;
• Direct Marketers;
• Underwriting Managers;
• Insurance Intermediaries;
• Financial Advisors;
• Private Equity;
• Robo Advisors.
|License Application Assistance||• Financial Advisory & Intermediary Services Act (FAIS)|
|Consulting||• Risk analysis of current structure;
• Construction of policy and procedure documents;
• Construction of appropriate monitoring regimes;
• Setting up reporting procedures;
• Advice on the implementation of procurements relating to anti-money laundering.
|Online services||• CompliNEWS Juta Compliance News and Information Portal;
• Test Zone (incl. FAIS/FICA) Testing;
• Template Zone.
• Access to a team of experienced independent compliance professionals;
• Access to the Compli-Serve compliance documentation library;
• Free access to the online FAIS/FICA testing programmes;
• Access to South Africa’s only dedicated compliance news portal, CompliNEWS Juta;
• Free access to online testing via Compli-Serve TestZone;
• Free access to online templates via Compli-Serve Template Zone;
• Discounts on Compli-Serve seminars and workshops;
• A free weekly newsletter, these include summaries of relevant FAIS Ombud case laws.
Primary Focus Legislation
The legislative scope currently covered by Compli-Serve, includes:
1. Market Conduct Treating Customers Fairly (“TCF”).
2. Financial Advisory and Intermediary Services Act (“FAIS”).
3. Protection of Personal Information Act (“POPI”), Act 4 of 2013.
4. Financial Intelligence Centre Act (“FIC”), 2001.
5. Long-term Insurance Act and Regulations (“LTIA”), Act 52 of 1998.
6. Short-term Insurance Act and Regulations (“STIA”), Act 53 of 1998.
MANAGEMENT & OWNERSHIP
Compli-Serve SA (Pty) Ltd
|Jan Hendrik Scholtz
Compli-Serve Gauteng (Pty) Ltd
Compli-Serve Kwa-Zulu Natal (Pty) Ltd
|Compliance Officers Manager:
Tanya van Aswegen
Affirmative Action Initiatives
Compli-Serve is committed to recruiting quality people and developing their potential in order to expand their careers and to become participants in sustaining its competitive edge.
The Company recognises its responsibility to equalise opportunities for those people who are socially, economically and educationally disadvantaged. Accelerating opportunity for the disadvantaged does not mean that the career development of others will be ignored. Our people will continue to be recognised for their competencies on merit.
The equity process will be driven in line with the Company’s vision, mission and values – all of which recognise that it is a service company dependent for its success on the commitment and excellence of its people.
Compli-Serve is deemed to be an Exempted Micro-Enterprise and qualifies for a promotion to a B-BBEE status of “Level Four Contributor” having B-BBEE procurement recognitions 100% in terms of Clause 4 of the Broad-Based Black Economic Empowerment Codes of Good Practice.