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Regulatory Exams

There has been a lot of discussion relating to the Regulatory Exams that must be written by all financial services providers by June 2012.

Click here for a short summary of the requirements and details of the exams that must be written by each Key Individual and Representative.

New Products

Guide to the 2011 Compliance Report for Category I Providers with a Compliance Officer
Risk Management - Guide to Essential Procedures
Risk Management Procedures Manual

Click here to Read More.

New Board Notices

The 2010 Compliance Reports have been added to our list.
Board Notice 74 of 2009 - Levies on Financial Institutions
Our Comments on Board Notice 74 of 2009
Board Notice 37 of 2009 - Notice on Requirements for Professional Indemnity and Fidelity Insurance Cover for Providers, 2009

Please click the link below to view all Board Notices and to download your copy of the 2009 Category I Compliance Report

Click here to view all Board Notices.

Newsletter Signup

These are delivered infrequently and only when something important needs to be communicated . . .

Click here to signup for the newsletter.

Guide to the 2007 Compliance Report

Take 80% of the hassle out of filing your 2007 Compliance Report!

If you are a compliance officer, you have over 155 detailed questions to answer this year.

If your business does not need a compliance officer, the key individual will have over 100 questions to deal with.

The questions in the Report are not user-friendly. Most questions simply ask whether there has been compliance with this or that section of the FAIS Act or the Code of Conduct or with some or other Board Notice or Exemption.

No detail is given in the question which means that you need a copy of all the relevant legislation open and next to you while answering the various questions. To make matters more difficult, some questions ask if there has been compliance with a section of the Code of Conduct; then when you look up that section of the Code, you will find further references to sections of the Act or the Regulations.

The answer to the question itself is often quite simple and straightforward – but getting to the point of being able to answer is anything but simple and straightforward. Putting the whole picture together can be a very time-consuming and frustrating undertaking.

Our Guide to the 2007 Compliance Report has been written with the sole purpose of taking the uncertainty and hassle out of answering the questions in the Report.

What’s in the Guide?

Everything you need is at your fingertips. Every question is explained and the explanation contains all the details you will need to answer that question. And you don’t have to be a lawyer or accountant to understand the language we use either.

If the question asks about compliance with a particular section of the Act, that section is quoted in full in the explanation to the question. If the question asks about compliance with any particular Board Notice, that Board Notice – or the part of it that is relevant to the question - is given in full. And every question that refers to sections of the Act where non-compliance is an offence carries a warning to this effect.

You will not need to consult any other reference.

Testimonial

As the principle of a small brokerage in East London, and being unable to afford the large sums of money compliance companies charge for their services, I have had myself appointed as the compliance officer.

Previous compliance reports were always a nightmare, with ambiguous questions that are vague and full of jargon, this resulting in a flood of correspondence between the Financial Services Board and myself to correct mistakes and supply outstanding information. This matter taking an average of 3 months to conclude, after our report had been submitted.

Upon receiving the explanatory guide, I was at first very sceptical as to how it could be possible for anyone to shed light on the inner workings of the FSB, however all scepticism aside, congratulations are in order for the author of this guide as my report has now been completed in less than half the time taken previously with almost no hassle. The comments supplied regarding each question help to explain exactly what the Financial Services Board are asking and I am able to honestly say that I answered all the questions accurately.

I feel that heartfelt congratulations are in order to the author of this vital guide, it is worth every cent.

Yours truly,
Steven Kleber
finVest cc
Financial investment advisers

You can view a sample of some of the pages from our 2006 Guide here

There are three separate Guides this year:

A Guide for all Compliance Officers (Schedule A)
A Guide for Compliance Officers of Administrative, Discretionary and Forex Providers (Schedule A)
A Guide for Providers who have no Compliance Officer - including Discretionary and Forex Providers (Schedule B)

Compliance Monitoring Systems is primarily focussed on finding ways to make compliance as uncomplicated but as thorough as possible. This Guide – the third so far - is the distilled result of our experience over the last 3 years.

Each Guide cost only R399 including VAT. The Guide is delivered in Adobe PDF format and will be emailed to you immediately we receive proof of payment.

Download the Guide you need now for only R399 (including VAT) and get your 2007 Compliance Report completed and filed.

Our Guarantee to you:

If you find that the Guide doesn’t do what we say it will do, we will refund the full amount of the purchase price immediately.

That’s our promise.

Do it now!

Click here to order your Compliance Report Guide