Conflict of interest management policy
Associated Insurance Brokers Cape 2006 (Pty) Ltd
The General Code of Conduct for the Financial Advisory and Intermediary Services Act (FAIS), broadly covers conflict of interest between Financial product Providers and Financial Service Providers. The code requires that FSP’s disclose the existence of the actual or potential conflict of interests to clients.
Conflict of Interest means any situation in which a provider or representative has actual or potential interest that may, in rendering a financial service to a client influence the objective performance of his obligations to that client and/or prevent a provider or representative from endering an unbiased and fair financial service to that client or from acting in the interest of that client.
ASSOCIATED INSURANCE BROKERS CAPE 2006 (PTY) LTD has adopted and implemented a Conflict of Interest Management policy to ensure that ASSOCIATED INSURANCE BROKERS CAPE 2006 (PTY) LTD in its obligations complies with the Act. The COI Management policy has been drafted to include the following:
- Mechanisms for identification of conflict of interest
- Measures for the avoidance of conflict of interest
- Measures for the disclosure of conflict of interest
- Processes and procedures and internal controls
- Consequences of non-compliance