Subject Title - INSETA

Ensure that the supervision requirements are not lessened inintensity during the duration of the period under supervision.For Category ll & llA FSPs, the following will also be recognised forsupervision purposes:Minutes of the „investment team‟ meetings will be accepted as signoff.Sign-off regarding intermediary services will require that thesupervisor checks that the Representative carries out instructionsaccurately and in line with the relevant mandate and/or consensusdecisions.Types of supervision activitiesSupervision may include one or more of the following activities:Sign-off by a supervisor on the advice given to client.Pre-transaction sign-off by a supervisor where intermediary servicesare rendered.Attending meetings with supervisees and clients, where the purposeof the meeting is the rendering of financial services.Appropriate post-transaction sampling.Follow–up calls to clients after the rendering of financial services bythe supervisee to confirm certain aspects of the interaction with theclient.Any other activity that enables the supervisor to scrutinise theactivities of the supervisee in respect of rendering financial services.4.3 EXPLAIN THE DISCLOSURE REQUIREMENTS THATREPRESENTATIVES ARE RESPONSIBLE FORRepresentatives must disclose the following:All the required information which is discussed in Chapter 8 – relatingto products, providers and commission.The signed „authority‟ from the FSP for whom the representative isacting, indicating the fit and proper status of the representative inrelation to the financial service being rendered.The fact that the representative is acting under supervision – ifapplicable.Any changes to the personal situation of the representative withregard to the honesty and integrity requirements.92 © INSETA - Section 1 12a