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WHAT
DOES AN FSP NOT REQUIRE?
¨
An audit by the FSB
¨
A negative FAIS Ombud determination based on poor record
keeping
¨
Leading to loss of FSP license!!
WHAT
DOES AN FSP REQUIRE?
1.
Compliance
Documentation
Change your current record keeping system to that
of Red Flag’s
Compliance Templates and you are half-way to being
compliant!!
2.
Back Office
Management System (Internal Management System)
Change your current internal management system to
that of Red Flag’s
Back
Office management Grid and your internal personnel begin
to
administer your compliance
process leaving you free to market and sell.
3.
FAIS, FICA &
Tax Updates
Stay up to date and compliant via relevant REGULAR
RED FLAG UPDATES
iro
changes to legislation, tax regimes and FAIS Ombud
determinations.
4.
Annual Report
An annual FAIS requirement that demonstrates that
the FSP has
conducted
a compliant practice – this has to be completed
either
by the
compliance officer of the FSP or
by the FSP him/herself.
5.
Compliance
Options (Either a Compliance Officer or a
Compliance Process)
Whether a FSP requires an external Compliance
Officer or a Compliance
Process, RED FLAG COMPLIANCE is the key to your compliance
solution!”
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COMPLIANCE