Unit Standard No.12164Page 52
reports by the External Auditor
should look like.
11. SPECIFIC CODE OF CONDUCT FOR AUTHORISED FSP’s AND REPRESENTATIVES - SHORT-TERM DEPOSIT-TAKING BUSINESS
Provides detail on Code of Conduct for authorised FSP’s and their representatives involved in Short Term Deposit Taking business
The do’s and don’ts that an FSP and their representatives ought to abide by. This only applies to FSP’s who are involved in the Short Term Deposit Taking Business, for e.g. Money Market accounts.
12.REPRESENTATIVE BODIES APPLICATIONS
Provides details of the application form to be completed by Representative Bodies who wish to become Recognised Bodies
Gives the application form which must be filled out by a party who is interested in becoming a Recognised Body.
13. EXEMPTIONS OF FSP REGARDING REPRESENTATIVES
Contains detail of the exemptions which are available to FSP’s regarding their representatives
The FAIS Act offers the FSP certain exemptions from particular sections of the Act, subject to conditions. This document lays out these exemptions.
14. REQUIREMENT FOR REAPPOINTMENT OF DEBARRED REPRESENTATIVES
Deals with reappointment of representatives who have been debarred
In certain instances, when a representative does not act in an acceptable manner, he/she may be debarred. This document outlines what requirements that representative would have to fulfil to be debarred in order to operate as a Representative again.
15. EXEMPTION OF FSP’s AND REPRESENTATIVES FROM POLICYHOLDER PROTECTION RULES
Provides details on the exemption of FSP’s and representatives from Policyholder Protection Rules
The FAIS act replaces the Long and Short Term Insurance Acts PPR – This document gives the detail of such an exemption to the FSP and their representatives.
16.DETERMINATION FOR THE CRITERIA AND GUIDELINES FOR THE APROVAL AS COMPLIANCE OFFICERS
Provides detail on the criteria for approval of compliance officers
This document tells one what the criteria and guidelines are to be approved as a Compliance Officer.
INSMAT final materials31/10/03