Financial Service Provider Enquiry

Assists Financial Product Providers and Financial Service Providers to comply with regulations

Astute Compliance Service offers an integrated and automated solution to enable compliance throughout the sales value chain.

FAIS Section 7 (3), requires that a Financial Product Provider (FPP) verify that an FSP and its Representatives (Rep) are licensed and authorised for the required Class of Business (COB) before accepting new business and when onboarding an FSP and its representatives as a contracted party.

FSCA access

‍Representative amendments or removal, directly with the FSCA.

Keep up to date

‍Daily notification of changes to FSP or Representative information.

Representative status

‍List of debarred representatives in the industry.

Credentials check up

‍Date of first appointment (DOFA) & regulatory examination (RE) details.

Status history

Financial products and financial services at current and previous FSPs.

Consent processes in place

‍Digital Consent to obtain consent from the data subject where required.

Services included

On Astute Front End

Through Integration

1. Subscription List (Setup of Rep Register)

✓

2. Rep/KI/SP Debarred Status

✓

3. Rep/KI/SP Supervision Status

✓

4. Rep/KI/SP Date of First Appointment (DOFA)

✓

5. Rep/KI/SP Qualifications

✓

6. Rep/KI/SP Regulatory Examinations (RE)

✓

7. Rep/KI/SP Tier, Products, COB, Categories etc.

✓

8. Rep/KI/SP Employment History (FSPs previously linked to)

✓

9. Register/Edit/Delete Representatives

✓

10. Submit Subscription List (Rep Register)

✓

11. Get Deltas (changes on reps published by FSCA)

✓

12. Get FSP Products, Categories, Status

✓

13. Get All from Subscription List

✓

14. FSCA Debarred File Publication

✓

15. Personal Services Provider Census (SARS compliance)

✓

Get All Data Description

Key Individual

FSP No

ID Number

Name

Surname

Date Appointed at FSP

Product Categories

Product Subcategories

Intermediary Status

Intermediary First Date

Advice Status

Advice First Date

Supervision Status

Supervision First Date

Scripted Status

Scripted First Date

Class of Business

‍

Representatives

FSP No

ID Number

Name

Surname

Date Appointed at FSP

Tier 1 Date

Tier 2 Date

Class of Business

Product Categories

Product Subcategories

Intermediary Status

Intermediary First Date

Advice Status

Advice First Date

Supervision Status

Supervision First Date

Scripted Status

Scripted First Date

‍

Debarments

ID number

Name

Surname

Debarred Status

Debarred Date

Debarred Reason

‍

Pricing

FSPE Subscription

A monthly subscription applies based on a rate per representative on the subscription list, subject to a minimum amount and capped at a monthly maximum amount.

Per Rep Rate: R1.33

R21 209.00 (Min)
R46 550.00 (Max)

Annual Support

15 hours of support per annum is included in the FSPE Subscription Fee to support integrated systems.

‍

Prices Exclude VAT

Streamlined verification and onboarding of Financial Service Providers and Representatives

Assists Financial Product Providers and Financial Service Providers to comply with regulations

FSCA access

Keep up to date

Representative status

Credentials check up

Status history

Consent processes in place

Key Individual

Representatives

Debarments

FSPE Subscription

Annual Support

Create a custom package for your needs or business