More than 10 Years in Compliance

Collective Investment Services ("CIS") Compliance and Support Services

Background

The regulation of Investment Managers in South Africa depends on a variety of factors including the nature of the services they provide, the type of fund structures employed and the target client base. In general, the provision of investment management services is subject to regulation in terms of the Financial Advisory and Intermediary Services Act of 2002. However, if a Manager manages a Collective Investment Scheme (“CIS”) then such Manager is required to be registered as a CIS Manager in terms of the Collective Investment Schemes Control Act of 2002 (“CISCA”) and is therefore subject to regulation of CISCA.

CIS Compliance and Support Services

Compli-Serve is to expand its service offerings in the CIS arena because of the growing need for Compliance assistance in terms of the CISCA legislation and the applicable ASISA Codes. This has also resulted in the recent appointment of a CIS specialist Debra Gill to the Compli-Serve team.

CIS Compliance and Support Services Content

The Compli-Serve CIS Compliance and Support Service offering entails the following:

  • Licence and registration services: Applications as local or foreign CIS Manager, CIS Scheme applications, changes to existing portfolios etc.
  • Regulatory profile changes: Auditor, shareholder, director changes etc.
  • Compliance monitoring and reporting: Regular onsite Compliance monitoring visits and reporting on compliance findings to the CIS Manager.
  • Telephonic and email assistance: Assistance with general CIS compliance queries.
  • Consultancy services: Company secretarial assistance to Boards and Committees and assistance with complex CIS issues.
  • Standard CIS templates: Templates for policies, registers and documentation required in terms of CISCA legislation.
  • Training: Training on CISCA legislation, ASISA Codes and amendments.