The financial advisory and intermediary services act, 2002 act no. The act makes provisions for the fsp to be licensed and authorised through the. Conflicts of interest as provided for in the general code to the financial advisory and intermediary services act act 37 of 2002 and described in more detail in board notice 58 of 2010 issued by the financial services board. Disclosure in terms of the financial advisory and intermediary services fais act 37 of 2002 please read it carefully the fais act was enacted for your benefit. Fais act, that the licences of the following licensees have been withdrawn with effect from. Cpd is one of the requirements that form part of the fais fit and proper dispensation. Outvest pty ltd outvest is an approved financial services provider fsp. Financial advisory and intermediary services act 2002.
Advisory and intermediary services act, 2002 act no. Fais act 37 of 2002 fit and proper requirements rule of. Authorised key individuals and representatives the following individuals have been duly authorisedby the financial services board as key individuals and representatives to render financial services as defined in terms of the fais act. The financial advisory and intermediary services act. The act makes provisions for the fsp to be licensed and authorised through the financial services board fsb. Fais act 37 of 2002 debarring representatives rule of. Fais act 37 of 2002 status of financial services provider in terms of the fais act insure city insurance brokers pty ltd is an authorized financial services provider, fais license number 4629. As a client of outvest you have the right to the following information.
Disclosure notice in terms of financial advisory and intermediary services act no 37 2002 fais of ava capital markets pty ltd relating to the provision of financial services as a prospective client, you have the right to information relating to our professional services as required in terms of the fais act. Be it enacted by the parliament of the republic of south africa, as follows. Legislation list of acts administered by the financial sector conduct authority. Statutory disclosure in terms of the financial advisory and intermediary services act no. Introduction there is a growing number of financial services providers fsps. The general and discretionary code of conduct has specific duties that. Financial advisory and intermediary services act 37 of 2002 referred to in the text as the act. B e it enacted by the parliament of the republic of south africa. The financial advisory and intermediary services fais act is a statement of law that affects the way a financial services provider fsp conducts business, interacts with consumers, and guides the consumer in their daily dealings. Fais act 37 of 2002 debarring representatives rule. Trading in listed securities will incur the normal costs associated with listed. Financial advisory and intermediary services act, 2002 act no. Services act, 37 of 2002 the fais act and investors are encouraged to obtain their own independent advice prior to investing in any product issued by index solutions. The act stipulates2 that the registrar of financialservices providers3 i.
Please note that this is an important document and is to be read carefully. Financial advisory and intermediary services disclosure. To regulate the rendering of certain financial advisory and intermediary services to clients. Financial advisory and intermediary services act government. Section 1 became operational on 30 september 2004 2. Representatives of authorised financial services providers. Fais means the financial advisory and intermediary services act no 37 of 2002. Financial advisory and intermediary services audit guide. Financial advisory and intermediary services act, 2002.
The financial advisory and intermediary services fais act 6. Financial advisory and intermediary services act, no 37 of 2002 fais to regulate the rendering of certain financial advisory and intermediary services to clients. Financial advisory and intermediary services act 37 of 2002 south. With acts you are guaranteed the latest and most up to date resource for your legislative needs. Financial advisory and intermediary services act, no 37 of 2002 fais 2,2mb pdf to regulate the rendering of certain financial advisory and intermediary services to clients. Name of fsp ig markets south africa limited trading as igcfd trader fsp license number 493 registration number 20022910 physical address the place, 1 sandton drive, sandton 2196. The financial advisory and intermediary services fais act. The financial advisory and intermediary services act 37 of 2002 intends. Status of financial services provider in terms of the fais act standard chartered bank johannesburg branch is an authorised financial service provider, company registration number. All information herein is deemed correct at the publication date. Financial advisory and intermediary services act centre for.
If you are dissatisfied with the response, you may contact the ombud for financial services naresh tulsie, at. Published under board notice 80 in government gazette 25299 of 8 august 2003 and as amended. Financial advisory and intermediary services act 37 of 2002. Financial advisory and intermediary services act no.
Status of financial services provider in terms of the fais act standard chartered bank johannesburg branch is an authorised financial service provider, company registration number 200302017710, fais license number 9101. August 4, 2017 november 21, 2017 martin van staden. Complaint means, subject to section 261aiii of fais, a specific complaint relating to a financial service rendered by a financial services provider or representative to the complainant on. Financial advisory and intermediary services act fais. In terms of the financial advisory and intermediary services act 37 of 2002 particulars of financial services provider eledon project management eledon is an authorised financial services provider in terms of the financial advisory and intermediary services act 37 of 2002 fais act. Authorised financial services providers usually incorporate the terms of the financial advisory and intermediary services act 37 of 2002 fais act into the employment contracts of their representatives. Act to regulate the rendering of certain financial advisory and intermediary services to clients. The financial advisory and intermediary services fais act requires that fsps be licensed and crates a professional code. General code of conduct for authorised financial services. Deposit in the fais act the financial advisory and intermediary services act, 2002 act no. Collective investment schemes control act act 45 of 2002 credit rating services act act 24 of 2012 financial advisory and intermediaries services act fais actact 37 of 2002 financial institutions protection of. General amendment act 45 of 20 to date financial advisory and intermediary services act 37 of 2002 government notice 1453 in government gazette 24079 dated 15 november 2002.
Acts online provides legislation, including amendments and regulations, in an intuitive, online format. Financial advisory and intermediary services act updated to 28 february 2014 act 37 of 2002 gon 1453, g. Accordingly, terebinth capital is authorised to provide. Financial advisory and intermediary services act, no 37 of 2002 fais 2,2mb pdf to regulate the rendering of certain financial advisory and. In this regard, the act prescribes that financial services providers are required to render financial. Financial advisory and intermediary services act, 2002 english text signed by the president. Jun 27, 2018 the financial advisory and intermediary services fais act is a statement of law that affects the way a financial services provider fsp conducts business, interacts with consumers, and guides the consumer in their daily dealings. Financial advisory and intermediary services act, no37 of 2002.
Financial advisory and intermediary services act, 2002 act. Fais act 37 of 2002 fit and proper requirements rule. The commencement date of the fais act is 15 november 2002, except for the following sections. Financial advisory and intermediary services act fais act 37 of 2002. Louis steyn is the key individual of the fsp, and as such participates in the decision making and management of the organization. The financial advisory and intermediary services act 37 of 2002 regulates the activities of all fiancail services providers fsp who give advice or provide intermediary services to consumers of certain financial products.
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