National Compliance - Assisting FSP's with FAIS compliance including other FAIS issues

By: National Compliance  11-11-2011
Keywords: Financial Services, Financial Advisory, Financial Services Board

Posted July 30th, 2010 by Webmaster


Posted July 30th, 2010 by Webmaster


Posted July 30th, 2010 by Webmaster


Posted May 21st, 2010 by Webmaster

Please note that the due date for the level 1 exams is indicated below as 30 November 2011 whereas the Board Notice stipulates 31 December. Inseta explained this as follows:

“”You are right, but the FSB is saying that people will have to complete the exams by November 2011 in order for them to be marked and recorded before 31st December. Hence the date I put in the notice.”

Posted June 16th, 2009 by Webmaster

Here is quick explanation of terms used in the financial services arena:

FAIS - Financial Advisory and Intermediary Services Act, 2002

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.

FSP -Financial Server Provider

A FSP is a company, organisation or individual that provides any services or financial product to clients.

FSB -Financial Services Board

The Financial Services Board is a unique independent institution established by statute to oversee the South African Non-Banking Financial Services Industry in the public interest.

How do I contact the FSB?

Posted June 3rd, 2009 by miranda

Just a quick reminder that the 2009 Annual Compliance Report is now due for submission!

The reporting period is as follows:

1st June 2008 - 31st May 2009

The submission date is no later than the 15th August 2009.

It is imperative that you make time available to allow our compliance officers to complete this important report with you in a timely manner.  Our office will be calling to schedule an appointment with the key individual(s) shortly.

If you have any questions please contact the office on 032 946 2921.

Posted May 27th, 2009 by Webmaster

and the risk of FAIS noncompliance…

Here is a recent article from

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 licensing conditions.

Don’t risk your business with FAIS noncompliance, we will show you how to comply, train key individuals about the FAIS compliance procedures and keep you up to date with the latest legislation, procedures and required documentation.

Posted March 25th, 2009 by Webmaster

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 retain such status, the following requirements must be met and sustained:

  • Personal character qualities of honesty and integrity
  • Competency and operational ability which include -
    • Practical experience
    • Educational qualifications
  • Financial soundness
Posted September 22nd, 2008 by Webmaster

National Compliance has recently launched their new website with added features and benefits for compliance service clients.

New Benefits:

Regular Newsletters and the latest industry information
Easy to use website
Updated and revised forms

New features:

Updated look and feel
Online Chat service
List of Contacts
Online application for services

National Compliance is focus on providing on-going compliance services and assist key individuals in financial services (FSP) organisation to comply with the FAIS Act.

Keywords: Financial Advisory, Financial Services, Financial Services Board, Financial Services Providers

Other products and services from National Compliance


National Compliance - Compliance Services for Financial Services Providers

We undertake to perform a risk management due diligence of our client’s practice and thereafter implement a compliance monitoring system that will not only exceed the requirements of the legislation but will also help to maintain the profitability of the practice.