Compliance Services for Financial Service Providers.
At Moonstone Compliance and Risk Management, we deliver industry-leading compliance services designed to meet the unique needs of financial service providers (FSPs).
Our experienced Compliance Officers provide hands-on support, acting as your external compliance partner to manage risks and ensure adherence to the Financial Advisory and Intermediary Services Act (FAIS), the Financial Intelligence Centre Act (FICA), and other regulatory requirements.
Comprehensive Compliance Service
The process starts with a thorough gap analysis and risk assessment, followed by a structured approach to implement compliance frameworks and manage risks, resulting in a tailored compliance solution. With a proven track record and longstanding client partnerships, we offer peace of mind through expert guidance and reliable service delivery.
FAIS Compliance Manuals
Develop and implement FAIS Compliance Manuals and FICA Risk Management and Compliance Programmes (RMCPs).
Tailored Compliance Documents
Create tailored compliance documents, including policies, procedures, and templates.
Regular Reviews
Conduct regular reviews of financial services provided by FSPs and their representatives.
Reporting
Monitor branches and representatives nationwide, with detailed reporting at individual, business unit, or national levels.
Objective Compliance
Provide independent and objective compliance services.
Detailed Records
Maintain detailed records of compliance reviews, visits, and audits.
Registrar
Liaise with the Registrar on regulatory matters affecting clients.
Industry Updates
Deliver regular industry updates through Moonstone’s monthly and weekly compliance newsletters and technical emails.
Bespoke Consultancy Services
Beyond our core offerings, we provide flexible consultancy services on an ad-hoc, project, or retainer basis. These services are available to both contracted and once-off clients, ensuring comprehensive support for all compliance needs.
Additional compliance support:
- Additional compliance support and advice for internal compliance teams.
- Independent compliance reviews and audits.
- Establishing compliance frameworks for new ventures.
- Guidance on business structures and relationships.
- Development and maintenance of bespoke policies and risk management plans.
- Workshops on compliance-related topics.
Exclusive Benefits for Our Clients
Partnering with Moonstone Compliance offers more than just regulatory compliance. Our clients enjoy:
Workshops
Reduced rates for workshops hosted by Moonstone Compliance and Risk Management.
FICA Training
Access to online FICA awareness training and assessments for advisors and staff.
Discounted Rates
Discounted rates for qualifications and training programs at Moonstone Business School of Excellence.
Why Choose Moonstone Compliance?
- Expertise Since 2004: With over two decades of experience, we navigate the intricacies of FSCA applications with unmatched proficiency.
- Tailored Support: We provide personalised guidance, ensuring your application or amendment is handled with precision and care.
- Efficiency and Accuracy: Our meticulous review process reduces errors and enhances approval prospects.
- Confidentiality: Your sensitive information is protected with strict adherence to data protection regulations.
- Dedicated Team: Our regulatory professionals offer comprehensive support, allowing you to focus on your business growth.
Who We Serve
We proudly support a diverse range of FSPs, including:
Investment Space
- Asset Managers
- Derivative Issuers
- Forex Providers
- Hedge Funds
- Linked Investment Service Providers
- Private Equity Funds
- Investment Intermediaries
Insurance Space
- Long-term Insurers
- Short-term Insurers
- Cell Captives
- Underwriting Managers
- Insurance Intermediaries
Administrator Space
- Funeral Administrators
- Health Care Administrators
- Pension Fund Administrators
- Short-term Insurance Administrators
Other Clients
- Banks
- Stockbrokers
- Call Centre Operations
- Motor Dealerships
- Independent Financial Services Providers
Frequently Asked Questions
What is compliance?
Compliance refers to the practice of adhering to laws, regulations, and standards that govern how a business operates. In the financial services industry, this focuses on ensuring that your business meets and complies with FAIS, FICA, and other applicable laws or subordinate legislation. It includes the creation and implementation of policies and procedures, the ongoing monitoring of compliance requirements, and various regulatory submissions, among others.
Which entities are required to appoint a Compliance Officer and what are the functions that a Compliance Officer must perform under the FAIS Act?
Section 17 of the FAIS Act requires that an FSP must appoint a Compliance Officer when it has “more than one key individual or one or more representatives”. The Compliance Officer, who must meet specific requirements and be approved by the FSCA, can either be an internal appointment or an external appointment, such as Moonstone Compliance. The Compliance Officer’s role is to oversee the provider's compliance function and to monitor compliance with the FAIS Act by the FSP and its representatives, and includes the establishment and maintenance of procedures to ensure compliance with the FAIS Act, and to take responsibility for liaison with the Registrar.
What is Moonstone’s background in providing compliance services to the financial services industry?
Moonstone Compliance is an FSCA-approved Compliance Practice and has been providing FAIS- and FICA-related compliance services to financial service providers for over two decades. Our experienced team includes regulatory specialists and FSCA-approved Compliance Officers who possess diverse backgrounds in financial services, law, and business management, and are located throughout the country. This geographic distribution, combined with our innovative application of technology, enables us to perform onsite monitoring for clients across South Africa, as well as to conduct remote visits when such an approach is more appropriate for a client’s business.
How does Moonstone support FSPs with compliance?
We act as a dedicated external Compliance Officer, collaborating with our clients to create and implement a compliance framework tailored to their business, as well as providing ongoing compliance management. We have developed a comprehensive regulatory library, including template documents that can be customised for your business. Our comprehensive Risk Management and Compliance Programmes (RMCPs) and Regulatory Risk Registers offer frameworks that not only safeguard your operations but also enhance your overall risk management. With our practice assessments and vigilant monitoring services, we keep a watchful eye on your compliance landscape and the implementation of requirements in your business, ensuring that you are always ahead of regulatory changes. Our regulatory updates keep you informed of the latest developments, while our expert guidance provides the support you need to navigate the complexities of compliance, helping you minimise compliance risk at every turn. In combination with our expert FAIS Licensing Services and targeted training programmes through Moonstone Business School of Excellence, we offer a complete compliance solution that takes the burden off FSPs. Our solution is not just about meeting compliance requirements; it’s about empowering our clients to thrive in a complex landscape. Let us handle your compliance needs so you can concentrate on driving your success with peace of mind.
Do you cater for all business types and sizes?
Our services are fully adaptable to accommodate the unique size and requirements of your business. We proudly serve a diverse clientele, spanning from independent advisers to major institutions, and covering a variety of sectors, including insurance, investment, and administration, ensuring that we meet the distinct needs of every client with precision and care.
Can Moonstone assist with once-off projects or compliance advice?
Yes, we offer flexible consultancy services for ad-hoc projects or once-off support in addition to our retainer-based options.
What training and additional benefits do Moonstone Compliance clients qualify for?
Our Comprehensive Service includes online FICA awareness training, and clients are eligible for discounts on qualifications and CPD/COB packages through Moonstone Business School of Excellence. They also receive reduced rates for compliance workshops hosted by Moonstone.
Partner with Moonstone Compliance Today
Ensure your business meets the regulatory requirements with Moonstone Compliance’s expert services. Contact us to schedule a consultation or learn more about our tailored compliance solutions.