Compli-Serve has a dedicated Administration department that manages the entire process of registering FAIS licenses in South Africa through the Financial Sector Conduct Authority “FSCA”.   For almost two decades we have been assisting applicants to enter the marketplace through obtaining this particular license.

After an assessment is done on the clients licensing requirements they may discover that they do not have a suitable person who can meet the regulatory requirements (in terms of qualification or relevant work experiencing) permitting a Key Individual to be  linked to the license. This is typically a scenario which would lead us to refer the client to a specialist Recruitment Agency to assist with the sourcing of a candidate.

Key Individual (KI) is responsible for managing and overseeing the activities relating to the rendering of any “financial service” as defined in terms of the FAIS Act. KI’s have a responsibility to ensure that they carry out their duties with the necessary due care, skill and diligence. This individual is required to understand the management and oversight of statutory obligations of an FSP and the persons authorised to act on its behalf.

The activity of “managing” means to have executive control or authority and “overseeing” is the function of supervising a person/s (Representatives) and their work in an official capacity.

If you need assistance in sourcing a candidate please email tanya@compliserve.co.za  for information on our recommended recruitment agencies.