Description

Execution of Sales Policy Template for Category I FSPs

The Execution of Sales Policy Template is an editable downloadable policy and procedures pack designed for Category I Financial Services Providers that perform scripted execution-only sales.

This Execution of Sales Policy Template helps an FSP document how execution-only sales must be controlled through approved scripts, no-advice boundaries, direct Key Individual oversight, representative training, call recording, quality assurance reviews, POPIA controls, direct marketing controls and fair customer outcome monitoring.

For related FAIS compliance templates, you may also view our Client Advisory Policy Pack, Market Conduct Toolkit and FAIS Disclosure Documents Pack.

For official regulatory information, you can also visit the FSCA FAIS regulated entities page.

What Is Included In This Execution of Sales Policy Template?

This template is designed to help FSPs control execution-only sales where representatives provide factual information and process client instructions without giving financial advice.

The policy includes sections for:

• Policy review and version control
• Training and implementation confirmation
• Introduction and purpose of the policy
• Scope and application
• Legislative and regulatory framework
• Definitions, including execution of sales, advice, approved script, deviation, direct oversight and quality assurance
• Execution of sales policy statements
• Governance roles and responsibilities
• Eligibility and authorisation requirements
• Execution of sales process
• Script development, approval and version control
• Client disclosure and communication standards
• Plain language and vulnerable client controls
• No-advice controls
• Call recording, storage and retrieval
• Quality assurance and monitoring
• Representative training and competence controls
• Direct marketing, POPIA and client consent controls
• Complaints, errors, breaches and client remediation
• Outsourcing and third-party call centre controls
• Management information and reporting
• Recordkeeping and policy review

Execution of Sales Policy Annexures Included

The Execution of Sales Policy Template includes practical annexures that help the FSP evidence implementation, monitoring and oversight of execution-only sales activities.

The annexures include:

• Annexure A: Script Approval Checklist
• Annexure B: Script Version Register
• Annexure C: Representative Execution of Sales Authorisation Register
• Annexure D: Call Recording and Retrieval Register
• Annexure E: Quality Assurance Call Monitoring Checklist
• Annexure F: Script Deviation and Breach Register
• Annexure G: Execution of Sales Monthly KI Oversight Report
• Annexure H: Training Attendance and Assessment Register
• Annexure I: Execution-Only Representative Undertaking
• Annexure J: Implementation Guide and Roll-Out Checklist
• Annexure K: Client Opening Disclosure Wording Template
• Annexure L: Policy Acknowledgement by Staff

Why FSPs Need an Execution of Sales Policy Template

Execution-only sales must be carefully controlled because the boundary between factual information and financial advice can easily become blurred. If an execution-only representative recommends a product, compares products in a way that influences the client, or comments on suitability, the FSP may face serious FAIS conduct and fit and proper risks.

A written Execution of Sales Policy Template helps the FSP show how execution-only activities are approved, scripted, recorded, monitored and escalated where advice requests, complaints, vulnerable client concerns or script deviations arise.

This template helps address common weaknesses such as:

• No formal execution of sales policy
• No approved execution-only sales scripts
• No script approval checklist
• No script version register
• No register showing which representatives may perform execution-only sales
• No clear no-advice controls
• No call recording and retrieval register
• No QA call monitoring checklist
• No script deviation and breach register
• No monthly Key Individual oversight report
• No execution-only representative undertaking
• No implementation roll-out checklist

No-Advice Controls and Script Governance

The policy includes controls to prevent execution-only representatives from giving advice, making recommendations, performing needs analysis, expressing suitability opinions or using sales pressure.

The script approval checklist and script version register help the FSP ensure that scripts are reviewed, approved, version-controlled and withdrawn when they become outdated.

Call Recording and Quality Assurance Tools

The Execution of Sales Policy Template includes call recording and retrieval controls for telephonic execution-only sales. These tools help the FSP confirm that calls are recorded, stored securely, linked to the correct client or transaction and retrievable for complaints, compliance reviews or regulatory queries.

The QA call monitoring checklist helps the FSP test whether the representative used the approved script, gave complete disclosures, avoided advice, checked client understanding, handled vulnerable client indicators correctly and obtained clear client instruction.

Direct Marketing, POPIA and Client Consent Controls

The template includes controls for execution-only sales linked to outbound calls, SMS, WhatsApp, email, lead generation or digital campaigns. It guides the FSP to consider lawful processing, consent, opt-outs, communication preferences, recording notices and the source of client information.

Key Individual Oversight and Breach Management

The monthly KI oversight report helps the Key Individual review execution-only sales volumes, call samples, QA pass rates, script deviations, advice breaches, complaints, cancellations, training and overdue corrective actions.

The script deviation and breach register helps the FSP record where representatives depart from approved scripts, give advice, omit disclosures, create client misunderstanding or trigger possible remediation.

Who Should Use This Execution of Sales Policy Template?

• Category I Financial Services Providers
• FSPs using scripted sales processes
• FSPs with execution-only representatives
• FSPs using call centres or outbound sales teams
• FSPs conducting telephonic, digital, branch-based or hybrid execution-only sales
• Key Individuals responsible for direct oversight
• Compliance officers assisting FSPs with sales conduct controls
• Quality assurance reviewers and sales supervisors

Editable and Customisable Execution-Only Sales Template

This Execution of Sales Policy Template is editable and must be customised before use. The FSP must insert its name, FSP number, Key Individual, approved products, representative roles, scripts, QA sampling method, call recording system, direct marketing process, POPIA controls, escalation process and evidence storage locations.

The annexures should be completed and aligned to the FSP’s actual licence categories, product supplier arrangements, sales channels, representative mandates, scripts, call recording systems and quality assurance process.

Important Compliance Note

This Execution of Sales Policy Template is a compliance support document. It does not replace legal advice, regulatory advice, script-specific compliance review, product supplier approval, call-centre audit, POPIA advice or external compliance officer monitoring. Each FSP remains responsible for ensuring that execution-only sales are lawful, properly authorised, monitored, evidenced and aligned with its licence conditions and current FAIS obligations.