Comprehensive FAIS Structure
A full compliance roadmap to guide Financial Services Providers under FSCA and FAIS requirements.
A Structured Approach to Compliance
The Comprehensive FAIS Structure sets out the policies, procedures, and controls needed to achieve full compliance with the Financial Advisory and Intermediary Services (FAIS) Act, the Financial Sector Conduct Authority (FSCA) requirements, and other South African financial legislation.
This framework ensures your business is built on a strong foundation of governance, integrity, and client trust
The Framework
1. Company Overview
Key Individuals, FSP license number, compliance officer, services, and contact details
2. Purpose of the Plan
Ensuring compliance with FAIS, FSCA, FICA, POPIA, and TCF
3. Legislative & Regulatory Framework
List of governing acts, codes, and directives (FAIS Act, General Code of Conduct, Fit & Proper, FICA, POPIA, TCF, FSCA Notices)
4. Governance & Oversight
Roles of Key Individuals and Compliance Officer
5. Fit & Proper Requirements
Honesty & Integrity, Competency (qualifications, RE exams, CPD), Operational Ability, Financial Soundness
6. Representative Management
Onboarding, FSCA registration, training, supervision, ongoing reviews
7. Risk Management
Risk Register, Internal Audit, reporting findings to management
8. Compliance Monitoring Plan
Internal audits, Fit & Proper checks, complaint register reviews, FSCA reporting
9. Policies & Procedures
Conflict of Interest, Complaints Handling, Data Protection, FICA/AML, Business Continuity, Marketing
10. Complaints Handling
Complaints officer role, turnaround time, recordkeeping requirements
11. Treating Customers Fairly (TCF)
The 6 TCF outcomes and implementation methods
12. FICA & AML Compliance
Risk-based approach, KYC, suspicious transaction reporting, staff training
13. POPIA & Data Protection
Appointing an Information Officer, consent forms, access controls
14. Recordkeeping
Five-year retention for advice records, communication logs, CPD, complaints
15. Business Continuity Plan (BCP)
Backup processes, emergency procedures, BCP testing
16. Reporting to FSCA
Compliance reports, financial statements, KI/Rep changes, CPD reporting
17. Training & Development Plan
Mandatory training (FAIS, FICA, POPIA, TCF, CPD) tracked via LMS or CPD log
18. Annual Review & Sign-Off
Annual review of the plan, policy updates, audit findings
The TTCS Advantage
Trusted
FSCA-approved and backed by proven industry expertise.
Comprehensive
End-to-end solutions across compliance, risk, licensing, and training.
Efficient
Streamlined processes that save you time and reduce stress.
Proactive
Anticipating regulatory changes and preparing your business for the future.