Consequences of non-disclosure online course
The purpose of this module is to understand the main pieces of legislation that regulates the disclosure requirements for financial services providers (FSP), its representatives and product providers of financial products. It provides an overview of what should be disclosed by the FSP, representative and product providers to a client. Non-adherence can result in penalties and consequences thereof is not only reputational, but costly. This module enables you to know what to disclose to your client and what the product provider should disclose.
The participant will require basic knowledge of the financial services industry and financial products. This is a refresher course to update knowledge on the written disclosures to be provide to clients to ensure that the participant knows why the disclosure requirements are relevant as per requirements of Act and so that the participant can ensure that the disclosures are clear to the client as per the Act.
Once you have successfully completed this course, you will be able to:
- Explain what the disclosure requirements are for the different role-players as set by the FAIS Act.
- Explain the consequences of non-disclosure.
- Draft a disclosure document to use in a Financial Services Practice.
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