Summary

Chapter 1: Introduction

1.1 Overview of the FAIS Act

1.2 Importance of the FAIS Act in South Africa

1.3 Scope and Application of the FAIS Act

Chapter 2: Objectives

2.1 Promoting Fair Treatment of Consumers

2.2 Enhancing Integrity in the Financial Services Industry

Chapter 3: Fair Treatment of Consumers

3.1 Honest, Fair, and Diligent Conduct by Financial Services Providers

3.2 Provision of Accurate and Unbiased Information to Clients

3.3 Consumer Protection Measures

Chapter 4: Competence and Professionalism

4.1 Educational Requirements for Financial Services Providers

4.2 Continuous Professional Development Obligations

4.3 High Standards for Competence and Professionalism

Chapter 5: Licensing and Registration

5.1 Regulatory Framework for Licensing and Registration

5.2 Authorized Bodies for Registration of Financial Services Providers

5.3 Compliance with Codes of Conduct

Chapter 6: Product-specific Requirements

6.1 Disclosure Obligations for Long-term Insurance Products

6.2 Specific Requirements for Other Types of Financial Products

Re5 Study Summaries