Subject Title - INSETA

a representative, the information must be about the FSP who themarketer acts for).Telephone contact details of direct marketer (unless the contact wasinitiated by the client) - if the direct marketer is a representative, theinformation must be about the FSP who the marketer acts for.Telephone contact details of the Compliance Department of the directmarketer.Whether the direct marketer holds professional and indemnityinsurance.Providing advice 104When a direct marketer provides advice to clients in respect of a product, itmust at the first reasonable opportunity:make enquiries to establish whether the financial product or productsconcerned will be appropriate, in relation to the client's risk profileand financial needs, and circumstances;and provide the following information to the client where appropriate:(i) business or trade name of the product supplier;(ii) legal status and relationship with product supplier;(iii) the following information on the product:a) Name, class or type of financial product concerned;b) Nature and extent of benefits to be provided;c) Manner in which the benefits are calculated,specifically the manner in which the value ofunderlying assets in the investment is determined;d) Client's monetary obligations and the manner ofpayment;e) Existence of cooling rights and the procedures toexercise the rights;f) Any material investment or other risks associatedwith the product.Take reasonable steps to find out if the financial product underdiscussion is a wholly or partial replacement for an existing productand advise client of the costs and financial implications, beforefinalisation (refer to the discussion around disclosure on replacementproducts above).104 Section 15 (2) (a) to (c) of the General Code as amended by BN 43 of 2008162 © INSETA - Section 1 12a