What we do

ICS offers specialist outsourced compliance solutions and risk management services to Category I, II and IIA Hedge Fund FSPs.

We specialise in the Financial Advisory and Intermediary Services Act (“FAIS”) and the Financial Intelligence Centre Act (“FICA”).

We assist our clients to comply with the necessary regulatory requirements, manage compliance risks and strive to foster good relationships between our clients and regulators, so our clients can focus on achieving their business goals.

ICS provides legal support and facilitates FAIS license applications, sees to the implementation of all FAIS profile changes and provides support and advice to clients on all FAIS and FICA related compliance matters.

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.

Why outsource to ICS?

ICS is an independent company which provides all its employees with the ability to function independently and objectively from our clients.

The size of a business may not warrant a full-time in-house compliance officer or it may be that some form of support is required, particularly if that role is not being filled by a compliance professional. ICS can provide our services and support in a cost-effective manner to clients.

Services that ICS will provide:

ICS will monitor the effect of both the FAIS Act and the FIC Act in terms of regulatory requirements and the impact thereof on the products and services of clients.

Other services we provide our clients include:

Conducting compliance audits;
Conducting regular monitoring and sampling;
Assisting with compliance planning;
Reviewing of client policies and procedures;
Risk management;
Providing specimen compliance documentation;
Submission of applications to the FSCA, and
Liaison and interaction with regulators.

GET IN TOUCH

If you would like to find out more about the services that ICS offers please contact us.