Description

Honesty and Integrity Affidavit Pack for FAIS FSPs

The Honesty and Integrity Affidavit Pack is an editable downloadable template designed for authorised Financial Services Providers that need a structured way to obtain, assess, record and retain honesty, integrity and good standing declarations.

This Honesty and Integrity Affidavit pack helps an FSP collect annual declarations from key individuals, representatives, representatives under supervision, juristic representatives and other relevant persons whose conduct may affect the FSP’s fit and proper compliance framework.

For related FAIS compliance tools, you may also view our FAIS Fit and Proper Checklist, Representative Appointment Compliance Pack and FAIS Debarment Policy and Procedure Pack.

For official regulatory information, you can also visit the FSCA FAIS Fit and Proper resources page.

What Is Included In This Honesty and Integrity Affidavit Pack?

This pack is designed to support the FSP’s fit and proper monitoring process. It gives the FSP a practical affidavit and supporting records to use before appointment, during annual reviews, after a change in circumstances, or when an adverse matter is disclosed.

The pack includes:

• Template use and legal disclaimer
• Document control section
• Purpose of the affidavit pack
• Legislative and regulatory context
• Guidance on who must complete the pack
• Guidance on when the affidavit must be completed
• Instructions to the person completing the affidavit
• Person completing the affidavit information section
• Honesty, integrity and good standing questionnaire
• Declaration by deponent
• Commissioner of Oaths section
• Annexure A: Adverse Disclosure Schedule
• Annexure B: FSP Assessment and Decision Record
• Annexure C: Change in Circumstances Notification
• Annexure D: Annual Honesty and Integrity Declaration Register
• Annexure E: Office Use Checklist

Why FSPs Need a Honesty and Integrity Affidavit

Honesty, integrity and good standing are important fit and proper requirements. FSPs should not only rely on informal verbal confirmations when assessing whether key individuals and representatives remain suitable to render, manage or oversee financial services.

This Honesty and Integrity Affidavit gives the FSP a formal declaration process and helps create evidence that the relevant person was asked to disclose matters that may affect their fit and proper status.

This pack helps address common weaknesses such as:

• No annual honesty and integrity declaration process
• No formal affidavit for representatives or key individuals
• No record of adverse disclosures
• No FSP decision record after a disclosure is made
• No change in circumstances notification form
• No register to track annual declarations
• No office-use checklist to confirm completion and filing
• No evidence that disclosed matters were assessed before further action was taken

Adverse Disclosure Schedule Included

The pack includes an adverse disclosure schedule for any “yes” answer or matter requiring explanation. This allows the person completing the affidavit to record the event, period, regulator, court, employer, professional body or other party involved, current status, outcome, sanction, corrective action and supporting documents.

A “yes” answer does not automatically mean the person is not fit and proper. The FSP must assess the seriousness, timing, relevance, remediation, supporting evidence and potential impact on clients and the financial services industry.

FSP Assessment and Decision Record

The Honesty and Integrity Affidavit Pack includes an FSP assessment and decision record to be completed where an adverse disclosure is made or where the FSP decides to conduct a documented fit and proper assessment.

This record helps the FSP document the adverse matter reviewed, documents considered, risk rating, decision taken, reasons for the decision, conditions or restrictions imposed, regulatory notification considerations and further action required.

Change in Circumstances Notification

The pack includes a change in circumstances notification form for use when a key individual, representative or other relevant person becomes aware of a matter that may affect honesty, integrity, good standing or fit and proper status after signing the affidavit.

This helps the FSP avoid relying only on annual declarations and creates a process for immediate disclosure when circumstances change during the year.

Who Should Use This Honesty and Integrity Affidavit Pack?

• Authorised Financial Services Providers
• Key Individuals
• Representatives
• Representatives under supervision
• Juristic representatives, where applicable
• Compliance officers assisting FSPs with fit and proper monitoring
• FSPs reviewing annual representative and KI compliance files

Editable and Customisable FAIS Template

This Honesty and Integrity Affidavit Pack is editable and must be customised before use. The FSP must insert its name, FSP number, policy or form owner, version, effective date, internal review process and filing location.

The pack includes bracketed placeholders and guidance notes to assist with completion. These should be removed before the final document is approved and used by the FSP.

Important Compliance Note

This Honesty and Integrity Affidavit Pack is a compliance support document. It does not replace legal advice, employment advice, a fit and proper assessment, verification checks, regulatory notification duties or a case-specific compliance review. Each FSP remains responsible for assessing any disclosure and determining the correct action based on the facts.