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South Africa
NATIONAL LEGISLATION OVERVIEWS
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Financial Advisory and Intermediary Services Act, No. 37 of 2002

Long title


To regulate the rendering of certain financial advisory and intermediary services to clients; to repeal or amend certain laws; and to provide for matters incidental thereto.

Table of contents

SECTION TITLE

TABLE OF CONTENTS

INTRODUCTORY PROVISIONS
1. Definitions and application
1A.. Relationship between Act and Financial Sector Regulatory Act [...inserted by Act 2017_009_290_20170822]
1B.. Regulatory instruments [...inserted by Act 2017_009_290_20170822]

CHAPTER I. ADMINISTRATION OF ACT
2. ... [...repealed by Act 2017_009_290_20170822 - was entitled "Registrar and deputy registrar of financial services providers"]
3. General provisions concerning registrar
4. Special provisions concerning powers of registrar
5. [...repealed by Act 2013_045_178_20140116 - was entitled "Advisory Committee on Financial Services Providers"]
6. Delegations [...substituted by Act 2017_009_290_20170822 - was entitled "Delegations and authorisations"]
6A. Fit and proper requirements [...inserted by Act 2013_045_180_20140116]

CHAPTER II. AUTHORISATION OF FINANCIAL SERVICES PROVIDERS
7. Authorisation of financial services providers
8. Application for authorisation
8A. Compliance with fit and proper requirements after authorisation [...inserted by Act 2013_045_183_20140116]
9. Suspension and withdrawal of authorisation [...was entitled "Suspension of authorisation"]
10. ... [...repealed by Act 2008_022_050 - was entitled "Withdrawal of authorisation"]
11. Lapsing of licence
12. Exemptions in respect of product suppliers

CHAPTER III. REPRESENTATIVES OF AUTHORISED FINANCIAL SERVICES PROVIDERS
13. Qualifications of representatives and duties of authorised financial services providers
14. Debarment of representatives
14A. ... [...inserted by Act 2008_022_054] [...repealed by Act 2017_009_290_20170822 - was entitled "Debarment by registrar"]

CHAPTER IV. CODES OF CONDUCT
15. Publication of codes of conduct
16. Principles of codes of conduct

CHAPTER V. DUTIES OF AUTHORISED FINANCIAL SERVICES PROVIDERS
17. Compliance officers and compliance arrangements
18. Maintenance of records
19. Accounting and audit requirements

CHAPTER VI. ENFORCEMENT

Part I. Ombud for financial services providers
20. Office of Ombud for Financial Services Providers
20A. Ombud scheme [...inserted by Act 2017_009_290_20170822]
21. Appointment of Ombud and deputy ombuds
22. Funding of Office
23. Accountability
24. General administrative powers of Ombud
25. Disestablishment and liquidation of Office
26. ... [...repealed by Act 2017_009_290_20170822 - was entitled "Powers of Board"]
27. Receipt of complaints, prescription, jurisdiction and investigation
28. Determinations by Ombud
29. Record-keeping
30. Report of Ombud
31. Penalties
32. ... [...repealed by Act 2017_009_290_20170822 - was entitled "Promotion of client education by registrar"]

Part II. Other enforcement measures
33. [...repealed by Act 2013_045_195_20140116 - was entitled "Civil remedies"]
34. Undesirable practices
35. Regulations
36. Offences and penalties
37. [...repealed by Act 2013_045_199_20140116 - was entitled "Consideration of quantum of fines and penalties"]
38. Voluntary sequestration, winding-up and closure
38A. Business rescue [...inserted by Act 2013_045_201_20140116]
38B. Application by registrar for sequestration or liquidation [...inserted by Act 2013_045_201_20140116]
38C. Directives [...inserted by Act 2013_045_201_20140116]
39. Right to reconsideration of decision [...Title substituted by Act 2017_009_290_20170822 - was entitled "Right of appeal"]  

CHAPTER VII. MISCELLANEOUS
40. Saving of rights
41. ... [...repealed by Act 2017_009_290_20170822 - was entitled "Fees and penalties"]
42. [... repealed by Act 2013_045_204_20140116 - was entitled "Exchange of information"]
43. [...repealed by Act 2008_022_062 - was entitled "Limitation of liability"]
44. ...  [...repealed by Act 2017_009_290_20170822 - was entitled "Exemptions by registrar and Minister"]
45. Exemptions, and amendment or repeal of laws
46. Commencement and short title
Sch. SCHEDULE. LAWS AMENDED OR REPEALED (SECTION 45)

Legislation Text Access Point

Versions
[To check whether a version has commenced, and how it was commenced, please see the Timeline for the Act, and the Annotated Text for the version.]
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As unamended Act 2002_037_000_20021115 EXT.LINK REQ.INFO LINK
As amended by Act 2008_022_000_20080930 .
 
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As amended by Act 2012_019_000_20120201 .  N/A REQ.INFO LINK
As amended by Act 2013_045_000_20140116 .  N/A REQ.INFO LINK
As amended by Act 2017_009_000_20170822 .  N/A REQ.INFO LINK
As amended by ... N/A REQ.INFO LINK

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