Masthead provides Compliance services to all its Independent Brokers. Each member is automatically allocated a FSB approved Compliance Officer. The Compliance Officer is recorded on the FSB’s records and takes responsibility for meeting all the requirements as prescribed by the legislation.
The Compliance Officers will assist the Independent Broker to meet the regulatory compliance required in terms of the FAIS Act by conducting on-site compliance assessments in the Independent Broker’s practice. They will recommend remedial action in respect of areas that need to be addressed and help Independent Brokers to deal with these actions through access to compliance templates and guidelines. They will also assist Independent Brokers with the completion of their FAIS regulatory reports.
How is it delivered?
Each member will automatically be allocated with an FSB approved Compliance Officer and will receive the following:
3 x Quarterly on site assessments,
3 x Reports with recommended remedial action,
1 x Annual formal FAIS compliance audit and report to the FSB
10 x “Mastering Compliance” newsletters per annum.