Disclosure Notice in terms of Financial Advisory and Intermediary Service Act No 37/2002 “FAIS” of Klips SA (Pty) Ltd relating to the provision of financial services.
As a prospective client you have the right to information relating to our professional services as required in terms of the FAIS Act.
PLEASE NOTE THAT YOU WILL BE ASKED TO ACKNOWLEDGE RECEIPT OF THIS DOCUMENT at the account opening stage THEREBY ACKNOWLEDGING AND AGREEING TO BE BOUND BY THE CONTENTS HEREIN AND WE THEREFORE REQUIRE THAT YOU READ IT CAREFULLY.
Klips SA (Pty) Ltd is an Authorized Financial Services Provider #47742 in South Africa.
Klips SA (Pty) Ltd (“Klips SA”) provides execution only services and enters principal-to-principal transactions with its clients, on prices shown on the Klips trading platform. These transactions are not traded on any exchange.
Authorized in respect of intermediary services for the following products
|1.13 – Derivative Instruments
|1.15 – Forex Investment
Dale Cohen and Brian Bosse are the Key Individual persons and representatives of Klips SA, have been duly authorized to render intermediary services as defined in terms of the FAIS Act in respect of the products we are licensed for and meet the prescribed fit and proper requirements.
Klips SA accepts legal responsibility for those activities that the representative performed within the scope of implementing his employment contract/mandate.
Fees and Charges
Our fees and charges are clearly displayed in the User Agreement and on the platform.
Any additional costs that may be applicable will be disclosed to you in advance.
Compliance with Financial Advisory and Intermediary Services Act “FAIS” Compliance with the FAIS Act is monitored by Mosime Consult. The registered compliance officer is Ruby Mosime, who is contactable on [email protected] or 084 290 2833
Where applicable all information will be kept by Klips SA on a confidential basis and will not be made available to third parties unless so authorized by the client beforehand or if Klips SA is required to divulge such information in the public interest or under any law.
Conflict of Interest
Potential conflicts of interest are inherent in any business and therefore it is not our aim to avoid all conflicts but rather to take steps to identify and manage conflicts of interest to ensure that our clients are not unduly prejudiced.
Klips SA has a conflict of interest policy which can be viewed on the website.
If you are dissatisfied with any aspect of our service, you may contact the FAIS at the address shown at the end of this letter.
Should you wish to pursue a complaint against the representative of the FAIS itself, you should address your compliant in writing to Brian Bosse, a registered key person of Klips SA Pty Ltd again at the address shown at the end of this letter.
If you cannot settle your complaint with us, you are entitled to refer it to the FAIS Ombud. The Ombud has been created to provide you with a redress mechanism for any inappropriate financial advice that may have been given to you.
Contact particulars of the Ombud: PO Box 74571, Lynnwood Ridge 0040, Tel 012 470 9080 Fax 012 348 3447, [email protected], www.faisombud.co.za
Klips SA holds professional indemnity insurance as prescribed under FAIS.