The financial advisory and intermediary services fais act requires that fsps be licensed and crates a professional code. Financial advisory and intermediary services act, 2002 english text signed by the president. 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. 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 intermediaries services act fais act act 37 of 2002 financial institutions protection of funds act act 28 of 2001 financial intelligence centre act act 38 of 2001 financial markets act act 19 of 2012 financial sector regulation act act 9 of 2017 financial services board act act 97 of 1990 financial services. 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. Representatives of authorised financial services providers. Financial advisory and intermediary services disclosure. Accordingly, terebinth capital is authorised to provide. Financial advisory and intermediary services act centre for. Introduction there is a growing number of financial services providers fsps. All information herein is deemed correct at the publication date. 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. To regulate the rendering of certain financial advisory and intermediary services to clients.
Louis steyn is the key individual of the fsp, and as such participates in the decision making and management of the organization. Financial advisory and intermediary services act 37 of 2002 referred to in the text as the act. Financial advisory and intermediary services act 37 of 2002 south. Fais act 37 of 2002 fit and proper requirements rule of. 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 Fais act, that the licences of the following licensees have been withdrawn with effect from.
The act makes provisions for the fsp to be licensed and authorised through the. Outvest pty ltd outvest is an approved financial services provider fsp. The financial advisory and intermediary services act 37 of 2002 intends. Financial advisory and intermediary services act 37 of 2002. 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.
Be it enacted by the parliament of the republic of south africa, as follows. 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. Fais act 37 of 2002 fit and proper requirements rule. 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, 2002 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. Fais act 37 of 2002 debarring representatives rule of. Act to regulate the rendering of certain financial advisory and intermediary services to clients. The financial advisory and intermediary services act, 2002 act no. 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. Sections 20 to 31 became operational on 8 march 2003 1. With acts you are guaranteed the latest and most up to date resource for your legislative needs. 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.
Financial advisory and intermediary services act fais, the financial advisory and intermediary services act, is legislation that impacts on the financial services industry and aims to regulate the giving of advice and rendering of intermediary services to clients, as well as certain other issues. 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. Financial advisory and intermediary services act, no 37 of 2002 fais 2,2mb pdf to regulate the rendering of certain financial advisory and. Please note that this is an important document and is to be read carefully. Acts online provides legislation, including amendments and regulations, in an intuitive, online format. 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. Cpd is one of the requirements that form part of the fais fit and proper dispensation. Financial advisory and intermediary services act fais act 37 of 2002. Fais act 37 of 2002 debarring representatives rule. Statutory disclosure in terms of the financial advisory and intermediary services act no. The act makes provisions for the fsp to be licensed and authorised through the financial services board fsb.
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. 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. The financial advisory and intermediary services act. Trading in listed securities will incur the normal costs associated with listed. Financial advisory and intermediary services act, 2002 act. B e it enacted by the parliament of the republic of south africa. 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. Financial advisory and intermediary services act government. The commencement date of the fais act is 15 november 2002, except for the following sections. Deposit in the fais act the financial advisory and intermediary services act, 2002 act no.
Advisory and intermediary services act, 2002 act no. 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 fais act. Financial advisory and intermediary services act, no37 of 2002. Section 1 became operational on 30 september 2004 2. As a client of outvest you have the right to the following information. The general and discretionary code of conduct has specific duties that. 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.
We are the leading resource for freely available legislation in south africa and are used daily by thousands of professionals and industry leaders. Financial advisory and intermediary services act 2002. Financial advisory and intermediary services act fais. Financial advisory and intermediary services act updated to 28 february 2014 act 37 of 2002 gon 1453, g. Financial advisory and intermediary services act, 2002. Financial advisory and intermediary services audit guide. In this regard, the act prescribes that financial services providers are required to render financial. August 4, 2017 november 21, 2017 martin van staden. The financial advisory and intermediary services fais act 6. The act stipulates2 that the registrar of financialservices providers3 i.
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