Financial Advisory and Intermediary Services Act

O9. Financial Advisory and Intermediary Services Act (FAIS)

The Financial Advisory and Intermediary Services Act, or the FAIS Act for short, exists to protect you, the consumer, from getting dodgy financial advice. The FAIS Act says that anyone who provides financial advice should be registered with the Financial Sector Conduct Authority (FSCA). That means only registered financial advisors can give you advice about what insurance products (or any product that...

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