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Unit Standard No.12164Page 52

AUDITOR

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

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