Masthead > For Advisors > Compliance

 Compliance  

Masthead's Code of Conduct

Click here to find out more about our FAIS-compliant seal and how you can benefit from it.

 



Masthead provides Compliance services to all its Independent Financial Advisors. Each Advisor 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 Advisor to meet the regulatory compliance required in terms of the FAIS Act by conducting on-site compliance assessments in the Advisor’s practice. They will recommend remedial action in respect of areas that need to be addressed and help Advisors to deal with these actions through access to compliance templates and guidelines. They will also assist Advisors with the completion of their FAIS regulatory reports.

How is it delivered?

Each Advisor will automatically be allocated with an FSB approved Compliance Officer and will receive the following:

  • quarterly onsite assessments 
  • quarterly reports with recommended remedial action, if necessary
  • regular review of Advisor's Risk Management Plans
  • an annual FAIS compliance report to the FSB
  • regular compliance newsflashes

Applying for a FSP licence

Do you want to apply for an FSP licence?  Masthead can assist you.

The process of applying for an FSP licence, to get the application granted by the FSB, can become quite drawn out if you are unfamiliar with the forms and procedures.  Most delays are due to the applicant not completing the forms correctly. 

Masthead has been providing this service for many years now, and through our hands-on experience we are able to make your FSP application process a hassle-free one. 

Our experienced team of compliance experts will:

  • consult with you to identify your requirements i.e. categories and sub-categories,
  • gather the necessary information
  • assist you in compiling supporting documents (e.g. business plans etc)
  • and submit your application to the FSB

While assessing the application, it is common practice for the FSB to ask for additional information which they will use to decide whether or not to grant the licence.  To speed up this process and to give you the best chance of getting your licence approved, Masthead will provide you with hands-on assistance in dealing with all FSB queries.

Profile changes to an existing FSP licence

Profile changes such as changes to the FSP name and adding or removing of Key Individuals must also be submitted to the FSB for approval.  There is a formal process that needs to be followed and Masthead can assist you by completing the required documentation and handling any queries.

For more information about these services, email compliance@masthead.co.za