Over the last decade there has been an increasing emphasis on compliance globally. This was spurred by an escalation in white- collar crime, the prevalence of international money laundering rackets and terrorist financing.
In an effort to increase South Africa's foothold in the world economic arena, the government has passed some stringent pieces of legislation which, if ignored, could result in strict penalties or the loss of operational licenses.
Compliance:
- Protects our clients and stakeholders.
- Fosters good relationships with regulators.
- Enhances the reputation of a business.
- Represents good business practice.
- Contributes to good corporate governance.
Old Mutual South Africa (Old Mutual SA) recognises its accountability to all its stakeholders under the
legislative and
regulatory requirements applicable to its businesses.
This includes ensuring that we are properly authorised to provide and sell investment products and services.
We also regard the parameters set out in the industry’s Guiding Principles and Charters as minimum requirements and where possible try to exceed them.
To promote a culture of internal compliance we have in place a series of internal compliance policies. In addition staff and clients have access to our Anonymous Reporting website.
Old Mutual SA is committed to comply with both the spirit and the letter of applicable requirements and to always act with due skill, care and diligence.