Amity Wealth has identified critical areas of risk in the business of advisors and intermediaries and our compliance process is designed around the following aspects:

1. Licensing requirements

2. Fit and proper requirements

3. Advice risk

4. Financial products

5. Intermediary services

6. Operational ability

7. Record-keeping

8. Strategic partnerships

9. Contingency

10. Financial management.


The foundation of the Amity Wealth compliance philosophy

We have identified advice and intermediary risk as our single biggest risk under FAIS. The client interaction process is the foundation of every business as it is crucial to new transactions, which ultimately leads to advisor accountability under FAIS. Amity Wealth has introduced a unique advice and intermediary services process between advisors and their clients and has established a sound record-keeping standard to comply with the requirements of the FAIS Act. This procedure is based on the law of contract and offers prima facie evidence of FAIS compliance in terms of sections 2,3,4,5,6,7,8 and 9 of the General Code of Conduct.

I agree fully … that the law of contract fundamentally underlies all final rendering of financial services under FAIS, and constitutes the final “accountability” factor.