Compliance

Our company

Ambiton Financial Services has been authorised by the Financial Services Conduct Authority (FSCA) to act as an Authorised Financial Services Provider under licence numbers 8777 (Ambiton Financial Services) and 8776 (Ambiton Medical Services).

A copy of our license certificate is available on request.

Our Compliance Officers

Ambiton Financial Services has appointed Masthead (Pty) Ltd as our external Compliance Officers, who is an FSA-approved compliance practice.

COMPLIANCE OFFICER

Our advice 

A brokerage – as a professional financial services provider - must comply with the regulations of the Financial Intelligence Centre Act (“FICA”), the Financial Advisory and Intermediary Services Act (“FAIS”), the Short-Term Insurance Act, (or Long-Term Insurance Act), the Promotion of Access to Information Act (“PAIA”), and the insurance sector’s various education - and training requirements as regulated by the Financial Services Board (“FSB”).

The legislation that regulates our industry with regards to the giving of advice and the rendering of financial services also require brokers to be licensed with the FSB and the SA Council of Medical schemes. Our representatives adhere to all these requirements to ensure that our clients are provided with professional advice and peace of mind.

FICA

FICA requires accountable institutions (such as investment managers, brokers and attorneys) to establish and verify the identity of their clients prior to transacting with them, in order to combat or eliminate money laundering activities.

FAIS

Whereas FICA tries to establish who we are dealing with, FAIS tries to ensure that we deal with them properly, responsibly and professionally.
FAIS aims to regulate the giving of advice and rendering of intermediary services to clients, and imposes responsibility by requiring that 

• the financial needs of the client be evaluated, 
• appropriate advice - having established the relevant facts – be given, and 
• clients be assisted to make informed decisions.

FAIS also established complaints resolution mechanisms which aim at providing clients with a speedy and cost-effective measure of resolving complaints relating to a financial service rendered by a financial services provider.

TCF POLICY

Our Treating Customers Fairly policy is centered around the guidelines provided by the Financial Services Board to ensure we consistently deliver fair outcomes to our clients and take responsibility for the business and staff providing an enhanced service quality to clients, based on a culture of openness and transparency. As a business, we take the requirements of the FSCA seriously, in particular, the requirement to treat customers fairly.