Personal Identification Information
We may collect personal identification information from Users in a variety of ways in connection with activities, services, features or resources we make available on our Site. Users may visit our Site anonymously. We will collect personal identification information from Users only if they voluntarily submit such information to us. Users can always refuse to supply personally identification information, except that it may prevent them from engaging in certain Site related activities.
Non-Personal Identification Information
We may collect non-personal identification information about Users whenever they interact with our Site. Non-personal identification information may include the browser name, the type of computer and technical information about Users means of connection to our Site, such as the operating system and the Internet service providers utilized and other similar information.
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How We Use Collected Information
Atria Africa may collect and use Users personal information for the following purposes:
- To process payments
We may use the information Users provide about themselves when placing an order only to provide service to that order. We do not share this information with outside parties except to the extent necessary to provide the service.
- To send periodic emails
We may use the email address to send User information and updates pertaining to their order. It may also be used to respond to their inquiries, questions, and/or other requests.
How We Protect Your Information
We adopt appropriate data collection, storage and processing practices and security measures to protect against unauthorized access, alteration, disclosure or destruction of your personal information, username, password, transaction information and data stored on our Site.
Sharing Your Personal Information
We do not sell, trade, or rent Users personal identification information to others. We may share generic aggregated demographic information not linked to any personal identification information regarding visitors and users with our business partners, trusted affiliates and advertisers for the purposes outlined above.
Third Party Websites
Users may find advertising or other content on our Site that link to the sites and services of our partners, suppliers, advertisers, sponsors, licensors and other third parties. We do not control the content or links that appear on these sites and are not responsible for the practices employed by websites linked to or from our Site. In addition, these sites or services, including their content and links, may be constantly changing. These sites and services may have their own privacy policies and customer service policies. Browsing and interaction on any other website, including websites which have a link to our Site, is subject to that website's own terms and policies.
Your Acceptance of These Terms
By using this Site, you signify your acceptance of this policy and the Terms and Conditions. If you do not agree to this policy, please do not use our Site. Your continued use of the Site following the posting of changes to this Policy will be deemed your acceptance of those changes.
This document was last updated on January 10, 2018
Conflict Of Interest Policy
- This document sets out the Conflict of Interest Management Policy for Atria Africa.
- Conflict of interest ("COI") means any situation in which Atria Africa or its representatives has an actual or potential interest that may, in rendering a financial service to a client, influence the objective performance of his, her or its obligations to that client; or prevent Atria Africa or its representatives from rendering an unbiased and fair financial service to that client, or from acting in the interests of that client, including, but not limited to:
- a financial interest;
- an ownership interest; and
- any relationship with a third party. Third party means
- a product supplier,
- another provider,
- an associate of a product supplier or a provider;
- a distribution channel; and
- any person who in terms of an agreement or arrangement with a person referred to in paragraphs (a) to (d) above provides a financial interest to a provider or its representatives.
- The primary objectives of this Policy are to:
- provide guidance on the behaviours expected in accordance with Atria Africa’s standards;
- promote transparency and avoid business-related COI;
- ensure fairness in the interests of employees and Atria Africa;
- document the process for the disclosure, approval and review of activities that may amount to actual, potential or perceived COI; and
- provide a mechanism for the objective review of personal outside interests.
- Atria Africa is committed to ensuring that it conducts itself in accordance with good business practice. To this end Atria Africa conducts business in an ethical and equitable manner and in a way that safeguards the interests of all stakeholders to minimise and manage all real or potential COI. Atria Africa and its representative(s) must therefore avoid, disclose or mitigate where avoidance is not possible any COI between Atria Africa and a client or its representative and a client.
- FINANCIAL INTEREST
- Atria Africa or its representatives may only receive or offer financial interest from or to a third party as determined by the Registrar of Financial Services Providers from time to time, and as set out in Annexure A hereto.
- "Financial interest" means any cash, cash equivalent, voucher, gift, service, advantage, benefit, discount, domestic and foreign travel, hospitality, accommodation, sponsorship, other incentive or valuable consideration, other than:
- an ownership interest; and
- training, that is not exclusively available to a selected group of providers or representatives on products and legal matters relating to those products; general financial and industry information; specialised technological systems of a third party necessary for the rendering of a financial service; but excluding travel and accommodation associated with that training.
- Atria Africa may not offer any financial interest to its representatives for giving preference to the quantity of business secured for the provider to the exclusion of the quality of the service rendered to clients; OR giving preference to a specific product supplier, where a representative may recommend more than one product supplier to a client; OR giving preference to a specific product of a product supplier, where a representative may recommend more than one product supplier to a client.
- MECHANISMS FOR IDENTIFYING COI
- Identify the type of conflicts that may arise in the course of providing services.
- Identify which conflicts can be avoided.
- If a conflict cannot be avoided, assess the reasons why it cannot be avoided and manage such conflicts to mitigate the risks that could be detrimental to clients.
- All employees are required to disclose, both on employment and throughout the course of their employment, any interest outside of Atria’s employment that they are party to. No material conflict in this regard is allowed.
- All employees, including compliance officers and management, are additionally responsible for identifying any specific instances of conflict. They are required to notify their Compliance officer / Money Laundering and Reporting Officer (or Group Compliance) of any conflicts they become aware of. The Compliance officer will escalate the conflict to Group management to assess the implications of the conflict, whether the conflict can be avoided and, if avoidance is not possible, how the conflict should be managed.
- Specific instances of conflict may require management intervention in addition to the documented controls. These can include escalation to a management forum for a decision on how the conflict should be managed, for example, disclosure to the client or declining to act.
- RESOLVING COI The first and most important line of defense against COI must be by the key individuals and representatives themselves.
- POTENTIAL COI THAT COULD AFFECT ATRIA AFRICA
The following are potential COI that could affect Atria Africa:
- directorships or other employment;
- interests in business enterprises or professional practices;
- share ownership;
- beneficial interests in trusts;
- personal Account Trading;
- professional associations or relationships with other organisations;
- personal associations with other groups or organizations, or family relationships;
- front running;
- kickbacks; and
- MEASURES TO AVOID COI:
Atria Africa has various internal controls to manage and mitigate COI, including:
- Group business practices - Confidentiality and Representing the Group;
- Information barriers ("Chinese Walls") - Restrictive access control to certain areas; separate IT systems and IT folders, IT access control policy and "Clean Desk" policy;
- Disclosure - Clear and concise disclosure to enable the recipient to fully understand its relevance; and
- Gifts and Entertainment Policy, which manages the disclosure and approval of the receipt of gifts and Entertainment by a representative.
- DISCLOSURE OF COI:
- At the earliest reasonable opportunity, Atria Africa and its representative must, in writing, disclose to a client any COI in respect of that client including:
- measures taken to avoid or mitigate the conflict;
- any ownership interest or financial interest that the provider or representative may have or become eligible for; and
- the nature of the relationship or arrangements with a third party that give rise to a COI in sufficient detail to enable the client to understand the exact nature of the COI.
- At the earliest reasonable opportunity, Atria Africa and its representative must, in writing, inform a client of the Conflict of Interest Management Policy and how it may be accessed.
- Notification of an actual or potential COI should be made to a person with responsibility for the issue or area, such as the relevant management team, supervisor, head of the department or key individual.
- In accordance with an employee’s obligation to act in the best interest of his or her employer, it is not permissible for employees to engage in conduct that would amount to a COI with Atria Africa
- Staff that fail to disclose a potential or actual COI in accordance with this policy may be liable to disciplinary procedures as governed by relevant industrial awards or agreements.
- PROCESSES, PROCEDURES AND INTERNAL CONTROLS TO FACILITATE COMPLIANCE WITH THE POLICY
- Every staff member must have a copy of the Conflicts of Interest Policy.
- If a potential COI arises, the transaction must first be discussed with management before entering into the transaction
- Register of conflicts of interest:
The Compliance Officer maintains a Register of Conflicts of Interests. The Register contains the following information relating to each conflict:
- a description of the regulated activity in relation to which the conflict arises;
- the name of the client, or the description of clients, whose interests are at a material risk of damage by reason of the conflict;
- the nature of the conflict;
- if the conflict arises by reason of the involvement of an officer or employee of the Company;
- the measures adopted to manage the conflict;
- the date when the conflict was first identified; and
- if the conflict has ceased, the date when it ceased and the grounds for considering that it has ceased.
- CONSEQUENCES OF NON-COMPLIANCE WITH THE POLICY BY ATRIA AFRICA’S EMPLOYEES AND REPRESENTATIVES Non-compliance with this Policy and the procedures described may be considered to be misconduct / disciplinary offence and will be fully investigated. Depending on the severity of such offence, employees may be subject to disciplinary action that may lead to dismissal.
- LIST OF ALL ATRIA AFRICA’S ASSOCIATES This list is available to approved third parties upon request.
- NAMES OF ANY THIRD PARTIES IN WHICH THE PROVIDER HOLDS AN OWNERSHIP INTEREST This information is available to approved third parties upon request.
- NAMES OF ANY THIRD PARTIES THAT HOLDS AN OWNERSHIP IN THE PROVIDER This information is available to approved third parties upon request.
- NATURE AND EXTENT OF THE OWNERSHIP INTEREST REFERRED TO IN PARAGRAPHS K AND L This information is available to approved third parties upon request.
ANNEXURE A - FINANCIAL INTEREST
The Registrar of Financial Services Providers issued Board Notice 58 of 2010 (BN 58) under section 15 of the Financial Advisory and Intermediary Services Act, 2002 (FAIS). BN 58 amends the General Code of Conduct for Authorised Financial Services Providers and Representatives under FAIS and determines that a financial services provider or its representatives may only receive or offer financial interest from or to a third party as follows:
- Commission authorised under the Long-term Insurance Act or Short-term Insurance Act;
- Commission authorised under the Medical Schemes Act;
- Fees authorised under the Long-term Insurance Act, the Short-term Insurance Act or the Medical Schemes Act, if those fees are reasonably commensurate to a service being rendered;
- Fees for the rendering of a financial service in respect of which commission or fees referred to in sub-paragraph (i), (ii) or (iii) is not paid, if those fees –
- are specifically agreed to by a client in writing; and
- may be stopped at the discretion of that client.
- Fees or remuneration for the rendering of a service to a third party, which fees or remuneration are reasonably commensurate to the service being rendered;
- Subject to any other law, an immaterial financial interest*; and v
- A financial interest, not referred to under sub-paragraph (i) to (vi), for which a consideration, fair value or remuneration that is reasonably commensurate to the value of the financial interest, is paid by that provider or representative at the time of receipt thereof.
* "immaterial financial interest" means any financial interest with a determinable monetary value, the aggregate of which does not exceed R1 000 in any calendar year from the same third party in that calendar year received by:
- a provider who is a sole proprietor; or
- a representative for that representative’s direct benefit; or
- a provider, who for its benefit or that of some or all of its representatives, aggregates the immaterial financial interest paid to its representatives.