South Africa
FAIS compliance, made simple
12 yes/no questions for businesses that advise on or sell financial products: your FSCA licence, key individuals and representatives, fit and proper requirements, disclosure and conduct, conflicts of interest and compliance. You get a score for each area and a list of gaps with what to do about each one.
ComplianceDesk gives you 7 pre-built FAIS controls, an evidence vault, audit-ready reports, and reminders before anything falls overdue — so proving FAIS compliance stops being a spreadsheet exercise.
Take the free self-assessment: a score for each area and a list of gaps to close.
What is FAIS?
12 yes/no questions for businesses that advise on or sell financial products: your FSCA licence, key individuals and representatives, fit and proper requirements, disclosure and conduct, conflicts of interest and compliance. You get a score for each area and a list of gaps with what to do about each one.
- Official name
- FAIS Self-Assessment (Financial Services Providers)
- Status
- In force. Shown as in force as we understand it. Check the current text with the regulator or an attorney, since provisions can be amended or commence at different times.
Who it applies to
- Whether it applies to you depends on your size, activities and licences. Use the free "Which laws apply to me?" checker, or read the first section of the self-assessment.
- Answer Not applicable throughout if you do not give financial advice or provide intermediary services on financial products.
What you have to do
Licence and people
A business should be able to show that it can answer yes to these: Do you hold a licence from the Financial Sector Conduct Authority (FSCA) for every category of financial service and product you provide? Have you appointed one or more key individuals who are approved for the categories on your licence, and are they actively managing the business? Does every representative who gives advice or sells on your behalf meet the fit and proper requirements (honesty and integrity, competence, operational ability and financial soundness) and appear on your register? Do you check each representative's regulatory exam status and keep up with continuous professional development? Do your representatives have a written mandate or service contract with you, which you confirm to clients before they provide a service?
Conduct and disclosure
A business should be able to show that it can answer yes to these: Do you follow the General Code of Conduct, including acting honestly and fairly, in the interests of clients, and keeping client information confidential? Do you give clients the required disclosures before advising: who you are, your licence, products, fees, conflicts of interest and complaints process? Do you base advice on a record of the client's needs and circumstances, and keep a record of the advice and the reasons? Do you have a conflict of interest management policy that you adopt, implement and maintain? Do you have a clear, fair complaints procedure, and handle complaints within the time required?
Compliance and related duties
A business should be able to show that it can answer yes to these: Do you have an approved compliance officer (internal or external) who monitors your compliance and reports to the FSCA as required? Do you also follow FICA, POPIA and the other laws that apply to financial services providers, such as holding professional indemnity cover and paying your levies and fees?
How to comply, step by step
- Licence and people. List the services and product categories you offer and check each is on your licence. Apply to extend your licence before offering a new one. Keep an approval record per key individual, and tell the FSCA when they change. Keep a file per representative showing qualifications, exam results, experience and debarment checks. Check the current exam and CPD rules on the FSCA site and track each person in a register. Give each client confirmation that the representative acts for you, before the service begins.
- Conduct and disclosure. Give staff a short guide to the Code and test it with spot checks on client files. Use a standard disclosure document and keep proof that each client received it. Use a client needs analysis and a record of advice for every sale. Write a conflict of interest policy, keep a register of conflicts, and train staff on it. Publish how to complain, keep a complaints log, and tell clients about the FAIS Ombud.
- Compliance and related duties. Appoint a compliance officer who meets the FSCA's criteria and is approved, and keep their monitoring reports. See the FICA and POPIA assessments, and confirm your indemnity cover and FSCA levies are current.
Sources and review status
Compiled from the public sources below. It is not legal advice and has not been reviewed by a lawyer. Last researched 2026-11-01. This is general information, not legal advice. Laws change, so check the current text and the regulator's notices before relying on it.
Every FAIS control, organised for you
The real control library ComplianceDesk seeds the moment you activate FAIS — 7 controls across 3 categories.
Licensing & Fit and Proper
- FAIS-1.1 FSP licence maintained with the FSCA
- FAIS-1.2 Key individuals and representatives registered
- FAIS-1.3 Fit and proper requirements verified
Conduct of Business
- FAIS-2.1 Client disclosure of fees and conflicts of interest
- FAIS-2.2 Record of advice provided to clients
Compliance & Complaints
- FAIS-3.1 Compliance officer/function appointed
- FAIS-3.2 Complaints handling process and register
Frequently asked questions
How can I check where my business stands on FAIS Self-Assessment (Financial Services Providers)?
Take the free self-assessment. It scores each area, lists your gaps with what to do about each one, and does not say you are compliant. You can save the result to ComplianceDesk to turn each gap into a task with an owner and a due date.
Is this guide written by a lawyer?
No. It was assembled from the public sources listed below and has not been reviewed by a lawyer. Treat it as a starting point and check the current law before relying on it.
How many controls does ComplianceDesk track for FAIS?
7, organised into 3 categories, ready to assign to an owner as soon as you activate the framework.
Can I track FAIS alongside other frameworks?
Yes — most teams activate several frameworks at once. Controls that overlap across frameworks can share the same evidence, so you don't collect the same document twice.
How long does it take to set up FAIS in ComplianceDesk?
Activating FAIS instantly seeds its full control library. Most teams assign owners and get their first controls moving within a day.
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