| Sasfin has a very strong governance culture and adheres to the relevant financial and banking regulatory requirements. In each major business unit there is a dedicated Compliance Officer who reports to the Group Compliance Officer. |
| |
| As an indication some of the regulatory compliance that Sasfin embraces and reports to include: |
| |
- Registrar of Banks (in terms of the Banks Act)
- The JSE (Securities Exchange)
- The Financial Services Board (FSB)
- The Financial Sector Charter (FSC) on broad based black economic empowerment (BBBEE)
- The Financial Advisory and Intermediary Services Act (FAIS)
- The Financial Services Board (FSB)
- The National Credit Act (NCA)
- The Financial Intelligence Centre Act (FICA)
- The Companies Act
- King III
|
| |
| Ultimately this compliance is there to protect our various stakeholders, most importantly our clients, and therefore Sasfin embraces this environment of governance. |
| |
| King lll Report |
| |
| South Africa is at the forefront of international corporate governance, a position that was solidly reinforced by the release of “King lll” – the third King Commission Report on Corporate Governance. |
| |
| A globally accepted and respected benchmark on how companies should be transparently managed and controlled, King lll is receiving the same high level of commitment and adherence from Sasfin as its predecessor, the King ll Code of Corporate Practices and Conduct. |
| |
| One of the fundamental and most far-reaching changes contained in King lll is that it applies to all corporate entities, and not only to JSE-listed companies, financial institutions and public companies as in the past. In addition, King lll covers, for the first time, information technology (IT) governance. |
| |
| Given its depth of understanding of, and compliance with, the King codes, Sasfin is well placed to advise and guide its portfolio of entrepreneurial (non-listed) clients on how best to toe the King lll line now that they have been brought into the loop |
| |
| Directors Representation on Group Entities |