With our established national footprint, we are able to deliver consistent FAIS and FICA compliance monitoring of Category I, Category II, Category IIA, Category III and Category IV to financial service providers (FSPs) throughout South Africa.
We currently monitor compliance across different types of distribution structures, including tied agents, franchises, branches and representatives.
While corporate clients retain responsibility for compliance, we aim to reduce their compliance risk.
- By making use of Masthead, compliance is conducted in an objective and unbiased way. This reduces risk. Corporates no longer need to use their internal sales people to check that the compliance process is followed (salespeople are driven to make the sales and may be less inclined to report a compliance issue).
- Compliance reports are conducted at an individual level and can be rolled up to branch level, regional level and national level, depending on the requirements of the corporate. While individuals can monitor their level of compliance, this information becomes a powerful tool for management. Whether they drill down to individual level or take a national consolidated view, it allows them to spot compliance risks more easily and react quickly by putting corrective measures in place.
In all instances, we have successfully improved the level of compliance among our corporate clients. For peace of mind in your business, please contact us.