ICS offers specialist outsourced compliance solutions and risk management services to our clients who are authorised Category I, II and IIA Hedge Fund FSPs to comply with regulatory requirements and to manage compliance risks. This allows our clients to focus on achieving their business goals within the regulatory framework.
We specialise in the Financial Advisory and Intermediary Services Act (“FAIS”) and the Financial Intelligence Centre Act (“FICA”) and also provide advice on other financial services related legislation and regulations to our clients.
What is Compliance?
In this context “compliance” is the legal term used to describe a person or entity acting in accordance with the provisions of FAIS and FICA.
Every business in the financial advisory and intermediary services industry must ensure that they operate their business in terms of the provisions and limitations set out in these Acts.
Who needs a Compliance Officer?
Any authorised FSP with one or more representatives or more than one key individual must appoint one or more compliance officers approved by the FSCA for the particular category of licence.