Our compliance services are tailor-made for each client.
Our compliance service consists of two components namely a practice assessment in which we perform a compliance gap and risk analysis and an ongoing service which ensures that the compliance requirements are implemented and monitored.
We can assist the following registrants:
- Credit Providers (including Debt Collectors, Micro Lenders, Vehicle Financiers, etc.)
- Reseller Credit Bureaux
Whether you have recently registered with the NCR and are unsure where to start with implementing compliance requirements or you have an established business and would like to get an independent perspective on your NCA compliance – our practice assessment will provide you with a concise pack of information to reach your goal.
The practice assessment consists of the following:
- Comprehensive guidance on specific NCA requirements, written in plain and understandable language.
- Template documents and procedures.
- Compliance assessment of your practices and documents.
- Final Report indicating the scope of the assessment and what has been implemented, as well as our findings and recommendations on issues of non-compliance.
Ongoing Compliance Monitoring
Staying on top of your compliance monitoring practices can often be challenging and time consuming, even when internal resources are allocated to this role. Moonstone can assist by implementing a compliance framework and monitoring your compliance with the NCA requirements on an ongoing basis.
This service can be tailored to follow a risk based approach aimed at your specific industry or business, where we focus on particular compliance areas while still providing you with the needed assurance.
You can select any or all of the following areas for our Compliance Officer to focus on:
- Marketing and advertisements
- Confidentiality of Information (Data access and disclosures)
- Credit application and assessment practices (including affordability assessments)
- Credit agreements, quotations and statements
- Rates and Fees (including Credit Life Insurance)
- Data Submissions (Regulation 19(13))
- Prescribed debt
- Debt enforcement (including listings of adverse information of default listings)
- Record keeping and registers
- Returns and Compliance Reports
Reseller Credit Bureaux
- Disputes and complaints process
- Credit reporting process
- Retention periods
- Confidentiality of consumer credit information (Data security, etc.)
- Prescribed purposes for issuing consumer reports (including employment purposes)
- Data submissions (Regulation 19(13))
- Record keeping and retention
- Returns and Reports