FAIS Info Circular 4 of 2015 is clear that representatives cannot contract or render services in their own name
Posted on 15 Sep 2015
On 7 September 2015 the Registrar of Financial Services Providers published FAIS Information Circular 4 of 2015.
The purpose of this information circular is to;
(a) reflect the way in which the FSB will apply section 13(1)(c) of the FAIS Act, on agreements in which representatives are cited; and
(b) clarify that section 13(1)(c) does not impact on the requirement in section 7(3) of the Act that provides that a financial services provider (FSP) may only conduct financial services related business with a person rendering financial services if that person is authorised to render those services or is a representative.
