| fais |
Financial Advisory Services and Intermediary Services Act |
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| fica |
Financial Intelligence Centre Act |
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| finance house |
a business enterprise that loans money to individual people or to companies against collateral, especially to buy items on hire purchase |
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| financial services board (fsb) |
The government-appointed regulator which is responsible for the implementation and monitoring of the FAIS Act. The FSB is established in terms of the Financial Services Board Act. |
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| financial services provider |
Any person, other than a representative, who as a regular feature of the business of such a person:
- furnishes advice
- furnishes advice and renders any intermediary service
- renders an intermediary service. |
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| fit and proper |
Financial services providers and their representatives need to be ‘Fit and Proper’. ‘Fit and Proper’ refers to both the experience and knowledge of the adviser, as well as personal character qualities such as honesty and integrity. Furthermore, the adviser needs to have the competence and operational ability to fulfil the responsibilities imposed by the Act. |
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| fixed assets |
(FA, non-current assets, investments)
Fixed assets are assets which have been acquired for use in the business and are not intended for resale. |
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| fortuitous |
happening by chance |
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| fraud |
deception intended to benefit those deceiving |
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| frequency |
how often something happens |
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