Strong structures start with steady hands.
Compliance services
At Grovest Fund Administrators, we’re your trusted partner in navigating the complex world of regulatory compliance. We offer straightforward, reliable support to help your fund meet FICA and FAIS requirements with confidence. From seamless onboarding and ongoing risk monitoring to ensure compliance with legislation. Our team takes care of the details so you can focus on capital raising and capital deployment.
With Grovest Fund Administrators you have peace of mind that your compliance is in expert hands.
FAIS
Grovest Fund Administrators offers compliance services to several Financial Services Providers (FSPs) that are licensed by the Financial Sector Conduct Authority (FSCA). These compliance services ensure that the FSP adheres to the requirements of FAIS and the General Code of Conduct. All FSP licence holders are provided with peace of mind that their business operations are conducted in accordance with the licensing conditions granted by FSCA.
FICA
The Financial Intelligence Centre Act (FICA) requires all Accountable Institutions (AI’s) to register with the Financial Intelligence Centre (FIC). FICA primarily focuses on AI’s implementing anti-money laundering and counter-terrorism financing measures. Grovest Fund Administrators offers compliance services to various AI’s. We ensure compliance with FICA, including identification and verification of customers, conducting customer due diligence, maintaining a risk management and compliance programme, and reporting suspicious activities to the FIC.
POPIA
The Protection of Personal Information Act (POPIA) governs the processing of personal data. All corporations in South Africa are required to implement strict data protection measures when handling customer records and customer data. This includes obtaining explicit consent, ensuring data security, and entering into written agreements with service providers to safeguard personal information. At Grovest Fund Administrators we ensure that our customer data and that of our clients is securely protected.
PAIA
The Promotion of Access to Information Act (PAIA) mandates that private entities, including fund administrators, establish and maintain a PAIA manual detailing the procedures for accessing their records. This ensures transparency and accountability, allowing individuals to request information necessary for the exercise or protection of their rights.
TCF
Treating Customers Fairly (TCF) is a fundamental principle being applied at Grovest Fund Administrators. We believe the customer is king and as such ensures that investors are treated ethically and transparently throughout their investment journey, from onboarding to reporting. It focuses on fair product design, clear communication, suitable services, and prompt handling of complaints to build trust and meet regulatory standards.
