More than 10 Years in Compliance

Company Profile

1. Background

a. Company Introduction

Compli-Serve is an independent specialist provider of advisory and operational compliance services to the financial services sector

Compli-Serve was originally established in March 2003 by current Managing Director Richard Rattue and licensed by the Financial Services Board to render compliance services on 27th June 2003.

Today Compli-Serve is a leading independent provider of regulatory compliance services to the financial services sector. The company has its head office located in Cape Town and has regional offices in Pretoria, Durban and Bloemfontein and services clients in all major business nodes around the country.

The Compli-Serve Group consists of licensed entities as below:

Compli-Serve SA (Pty) Ltd CO 194
Compli-Serve Gauteng (Pty) Ltd CO 6797
Compli-Serve Cape (Pty) Ltd CO 6795
Compli-Serve KZN (Pty) Ltd CO 6798

Compli-Serve draws on both local and international trends in developing compliance services designed to meet the best practice compliance needs of today’s financial services professionals who operate in an ever more regulated environment.

Compli-Serve provides compliance related services across a wide spectrum of the financial services sector including long only asset managers, financial advisors, hedge fund managers private equity funds, insurers, underwriting managers, insurance intermediaries, and direct marketers.

Compli-Serve works with both local and international clients and has a wide range of experience in the implementation and ongoing monitoring of financial services regulatory compliance. Through our diversified local and offshore client base Compli-Serve has developed considerable skill and expertise with the implementation and monitoring of regulatory compliance.

We recognise the need for the business to contain the costs of compliance whilst meeting the increasing challenges of regulatory compliance. We strive to keep our services focused without compromising the delivery our clients have come to expect.

2. Strategy & Vision

a. Vision statement

To be a major provider of professional regulatory compliance services to the financial services industry of Southern Africa.

b. Mission statement

To deliver best practice compliance services based on the needs of our clients who operate in an ever more regulated environment. This will be achieved through implementing effective business solutions, combining appropriate, services and skills.

c. Values

  • To maintain open and honest communication with clients, business partners, staff and shareholders.
  • To honour commitments and promises.
  • To have mutual trust and respect.
  • To deliver and receive fair value.

d. Business goals & objectives

  • Ensure that we engage and communicate with our clients and stakeholders;
  • Expand offerings and solutions to meet the needs of our clients;
  • Ensure all Compliance Officers are kept abreast with key international and local developments.
  • Invest in developing previously disadvantaged individuals through our compliance officer Internship program;
  • Comply as a company to all relevant legislation and seek to ensure our clients are compliant as well.
  • Strive to provide service excellence.
  • Instil sound project management principles in our day to day execution of our work.
  • Improve on our internal policies and procedures to ensure an evidenced-based approach.
  • Maintain a clean audit from the Financial Services Board.
  • Remain in good standing with the regulatory authorities
  • Be part of industry work groups to assist with comment and input on relevant legislation within South Africa.
  • Be involved through a social responsibility project on an annual basis.

e. Growth strategy

Compli-Serve recognises that the winds of change are blowing and has taken steps to ensure that our services are relevant to our client needs. The rules based model is giving way to a principles focus and this will significantly impact the way compliance is undertaken. Significant research has been undertaken over the last twelve months to map our services to both regulatory and industry direction. As a result of this exercise Compli-Serve has focused on developing principles based offering for Financial Service Providers.

f. Compliance Methodology

Compli-Serve’s follows a risk-based approach to compliance service rollout using experienced Compliance Officers with relevant industry knowledge. This in turn allows our clients to focus on their core skills and conduct profitable and sustainable business.

By conducting a risk assessment and obtaining a compliance risk rating of a clients’ business model, we are able to identify the gaps within the business. Thereafter we are able to amend current or develop new policies and procedures and assist and guide in the implementation of such policies and procedures with effective risk mitigating controls.

The above will provide clients with assurance that all identified regulatory risks have been addressed and provide clients with peace of mind to focus on creating and maintaining a sustainable business.

f. Current Status

The company has successfully delivered compliance services to a wide variety of clients covering key financial services legislation. We have rolled out the Compli-Serve Test Zone, providing on line testing solutions. Clients also receive our industry leading newsletter CompliNEWS which keeps them abreast of legislative updates. We have facilitated onsite training and consulting to our clients and we have a nationwide team providing professional services to over 350 local and offshore firms.

3. Products & Services

a. Services and Products

Compliance undertaking:  On site reviews;
  Compliance Risk Management Plans;
  Compliance Risk Reviews;
  Assistance with complaints and interaction with the Ombud office;
  Assessment and advice on qualifications and skills;
  Comprehensive insurance regulatory compliance offering;
  Formal written feedback reports;
  Assistance with implementation of compliance processes and documentation.
 
Compliance Administration:  External Compliance Officer appointments;
  Telephonic and email support during business hours;
  Processing of license profile changes; and
  Regulatory license assistance & submissions.

b. Services

Host of services offered

Description

Regulatory Compliance 
  • Market Conduct
  • Advisory – Category 1
  • Discretionary – Category 2
  • Hedge Fund – Category 2A
  • Administrative – Category 3
  • Collective Investment Schemes
  • Direct Marketers
  • Insurers
  • Underwriting Managers
  • Insurance Intermediaries
  • Financial Advisors
  • Private Equity
  • Robo Advisors
License Application Assistance 
  • FAIS FSP
  • CIS MANCO
  • CIS Fund Registration (local/offshore)
Consulting 
  • Risk analysis of current structure
  • Construction of policy and procedure documents
  • Construction of appropriate monitoring regimes
  • Setting-up reporting procedures
  • Advice on the implementation of procedures relating to anti-money laundering
Online services 
  • CompliNEWS Compliance News and Information Portal
  • Test Zone (incl. FAIS/FICA) Testing

c. Business competitiveness

Value proposition

  • Access to team of experienced independent compliance professionals;
  • Access to the Compli-Serve compliance documentation library;
  • Free access to the online FAIS/FICA testing programs;
  • Free access to South Africa’s only dedicated compliance news portal CompliNEWS;
  • Free access to on-line testing via Compli-Serve Test Zone
  • Free access to on-line templates via Compli-Serve Template Zone
  • Discounts on Compli-Serve seminars and workshops;
  • A free weekly newsletter, these include summaries of relevant FAIS Ombud case law.

d. Primary Focus Legislation

The legislative scope currently covered by Compli-Serve, includes:

  1. Market Conduct Treating Customers Fairly “TCF”;
  2. Financial Advisory & Intermediary Services “FAIS”;
  3. Protection of Personal Information Act “POPI”, Act No. 4 of 2013;
  4. Financial Intelligence Centre Act “FICA” 2001;
  5. Collective Investments Schemes Act 45 of 2002;
  6. Long-term Insurance Act & Regulations “LTIA”, Act No. 52 of 1998;
  7. Short-term Insurance Act & Regulations “STIA”, Act No. 53 of 1998;




4. Management & Ownership

a. Directors

Directors' names

Qualifications

Richard Rattue
Compli-Serve SA (Pty) Ltd 
  • BA Hons Business Studies (UK)
Jan Hendrik Scholtz
Compli-Serve Gauteng (Pty) Ltd 
  • B. Proc degree (UFS);
  • Admitted attorney and conveyancer;
  • Certificate in Financial Compliance (UJ, formerly RAU);
  • Certificate in Compliance Management (UCT);
  • Postgraduate Diploma in Financial Planning (UFS); and
  • National Diploma in Real Estate (UNISA).
Catherine Cooper
Compli-Serve Kwa-Zulu Natal (Pty) Ltd 
  • BA (1986) - University of Natal;
  • LLB (1989) - University of Natal;
  • Attorney of the High Court of South Africa (1992) – Admitted in Pietermaritzburg High Court;
  • LLM – Tax Law (1998) - University of Witwatersrand;
  • Certified Financial Planner (2001) - University of the Orange Free State; and
  • Certificate in Financial Compliance (2003) - Rand Afrikaans University.

b. Managers

Managers' names

Qualifications

Compliance: 
James George
  • BA (Hons) in Business Studies – University of Wales, Swansea, United Kingdom
Operations & HR 
Tanya van Aswegen
  • National Diploma in Business Management
Financial 
Cindy Meyer
  • Technical Financial Accounting Diploma

c. Administrative personnel

Administrative staff

Carmen Alexander
Chantel Wabanie
Andisiwe Maliwa
Tarryn Arendse
Lesley Blankenberg
Madeleine Trytsman
Belinda Dode

d. The Compli-Serve Team

 

Name

Job Title

1.  Richard Rattue  Managing Director/Compliance Officer
2.  Jan Hendrik Scholtz  Director Gauteng/Compliance Officer
3.  Catherine Cooper  Director Kwa-Zulu Natal/Compliance Officer
4.  James George  Compliance Manager/Editor of CompliNEWS
5.  Tanya Van Aswegen  Operations Manager/HR
6.  Cindy Meyer  Financial Manager
7.  Dr Des Leatt  Skills Specialist/Compliance Officer (Cape)
8.  Gerry Grispos  Compliance Officer (Cape)
9.  Gail Fry  Compliance Officer (Gauteng)
10.  Riana Grobler  Compliance Officer (Cape)
11.  Elzabe Botha  Compliance Officer (Gauteng)
12.  Frits Rossouw  Compliance Officer (Cape)
13.  Anél Naude  Compliance Officer (Gauteng)
14.  Debra Gill  Compliance Officer (Cape)
15.  Loren Basson  Compliance Officer (Cape)
16.  Carmen Alexander  Supervisor, Admin Department
17.  Lesley Blankenberg  Licensing Administrator
18.  Chantel Wabanie  Licensing Administrator
19.  Madeleine Trystsman  Licensing Administrator
20.  Andisiwe Maliwa  Accounts Assistant
21.  Tarryn Arendse  Receptionist
22.  Belinda Dode  Typist/Data Capturer

e. Affirmative action initiatives

Equity Vision

Compli-Serve is committed to recruiting quality people and developing their potential in order to expand their careers and to become participants in sustaining its competitive edge.

The Company recognises its responsibility to equalise opportunities for those people who are socially, economically and educationally disadvantaged. Accelerating opportunity for the disadvantaged does not mean that the career development of others will be ignored. Our people will continue to be recognised for their competencies on merit.

Equity Strategy

The equity process will be driven in line with the Company’s vision, mission and values – all of which recognise that it is a service company dependent for its success on the commitment and excellence of its people.

f. BEE

Compli-Serve is deemed to be an Exempted Micro-Enterprise and qualifies for a promotion to a B-BBEE status of “Level Four Contributor” having B-BBEE procurement recognitions 100% in terms of the clause 4 of the Broad-Based Black Economic Empowerment Codes of Good Practices.

 

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