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Compliance

The Portfolio Bureau fincial compliance

The Portfolio Bureau (Pty) Ltd is an authorised Financial Services Provider in terms of Section 8 of FAIS (Act No. 37 of 2002), license number 15011.

Financial Advisory and Intermediary Services Act (FAIS), 2002

The purpose of the Act and its subordinate measures is to protect consumers and to enhance the integrity of the financial services industry.

For clients, it means that you are entitled to full transparency and disclosure of information on any financial product sold. For Portfolio Bureau, it means that we are obliged to keep proper records of all transactions and client contacts, as well as complying with legislation aimed at addressing the quality of advice that is given.

Please note that in accordance with legislation we have a Conflict of Interest policy. This policy informs our clients of all financial and ownership interest that we may become entitled to and list the business relationships that we have with the product suppliers. This document ensures transparency in our dealings with our customers and is available for inspection.

Financial Services authorised categories

Guy Golan and Norman Van Rooyen
Categories: 1.3, 1.4, 1.5, 1.7, 1.8, 1.14, 1.16, 1.20
Tanya Golan
Categories: 1.3, 1.4, 1.5, 1.7, 1.14, 1.16, 1.20
The Portfolio Bureau (Pty) Ltd is a category 1 Financial Services Provider

Financial Intelligence Centre Act (FICA), 2001

The purpose of FICA is to combat money-laundering activities and the financing of terrorism and related activities. Money laundering is an activity that has the effect of concealing the nature, source, location, disposition or movement of the proceeds of unlawful activities or any interest that anyone has in such proceeds. This includes contravening the Exchange Control Act, or any other law or regulation.

This act imposes an obligation on Portfolio Bureau to conduct our business in line with FICA, with severe penalties for non-compliance. This includes an obligation to know and verify the identity of our clients, as well as maintaining records of all dealings with our clients.

Our Compliance Officer

Our compliance with the FAIS Act is monitored by Masthead Financial Advisors Association, an independently outsourced compliance service provider approved by the Financial Services Board. Their aim and objective is to frequently monitor our advice and intermediary activities to ensure that it is in alignment and fully compliant with the requirements of the FAIS and FICA legislative requirements, thereby ensuring that our clients consistently receive personalised and appropriate financial advice from our advice-giving representatives.

Masthead Distribution Services (PTY) LTD
Compliance practice number: 67
Postal address: PO Box 50099, Waterfront, Cape Town, 8000
Telephone: + 27 21 555 4121

Confidentiality

All client information will be treated confidentially, unless Portfolio Bureau is legally obliged to disclose such information, or in order to give effect to the client's instructions to companies that process requests for products or services.

Conflict of Interest Management Policy

Background

Section 3A(2)(a) of the General Code of Conduct stipulates that every provider, other than a representative, must adopt, maintain and implement a conflict of interest management policy that complies with the provisions of the Act. The policy is to provide for mechanisms in place at the Portfolio Bureau to identify, mitigate and manage the conflicts of interest to which the Portfolio Bureau is a party. This Conflict of Interest Management Policy is designed as prescribed in Board Notice 58 of 2010 which amends the General Code of Conduct for Financial Services Providers and Representatives published in Board Notice 80 of 2003, as amended by Board Notice 43 of 2008.

Object of the Policy

This Conflict of Interest Management Policy does not change our existing conflict of management procedures but intends to document them in simple form as required by the Financial Services Board.

In terms of the Financial Advisory and Intermediary Services Act, 2002, Portfolio Bureau is required to maintain and operate effective organisational and administrative arrangements with a view to taking all reasonable steps to identify, monitor and manage conflict of interest. Portfolio Bureau has put in place a policy to safeguard its clients' interests and ensure fair treatment of clients.

All providers, key individuals, representatives, associates and administrative personnel will commit to such policy and the processes will be monitored on an ongoing basis.Portfolio Bureau keeps and maintains a register in which all actual or potential conflicts are recorded.

Read more about The COI Management Policy

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