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Financial Advisory and Intermediary Services Act, 2002 (Act No. 37 of 2002)

Board Notices

Specific Code of Conduct for Authorised Financial Services Providers and Representatives conducting Short-term Deposit Business, 2004

Part ll : General Duties of Providers

8. Account operations


A provider must—


(a) where applicable, at the request of a client, provide the client with a statement of account in connection with any financial service rendered to the client, unless otherwise agreed;


(b) inform a client that there are—
(i) charges to be levied on furnishing of account statements (if any);
(ii) procedures to be followed by a client in case of statement errors;
(iii) procedures to be followed by a client whenever changes in personal identification or addresses occur; and
(iv) safeguards and essential precautions to be implemented, followed and taken in connection with telephonic and electronic banking services in respect of deposit accounts.