Principles And Reflection Of The JLT SA-Compliance Charter

1567 Words 7 Pages
JLT SA - Compliance Charter
1. COMPLIANCE FUNCTION
1.1 INTRODUCTION
The JLT Compliance Charter outlines JLT’s philosophy of compliance and formalises the compliance function within the organisation. This charter aims to set out JLT’s approach to managing compliance risks. The compliance manual sets out further guidance and procedures with regards compliance practices

1.2 COMPLIANCE PHILOSOPHY
JLT acknowledges the best practice standards and codes of conduct issued by the Financial Services Board as well as the Insurance industry. The guidelines, principles and standards of the Compliance Institute of South Africa underpin JLT’s compliance philosophy .
JLT is committed to adhering to the letter and spirit of the law and to reducing the risk
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Any employee who fails to comply with the letter and spirit of the legislation or any of JLT’s procedures or policies will face disciplinary action which may lead to dismissal.

2. COMPLIANCE STRUCTURE
It is imperative that all employees across all levels of JLT work together in establishing and maintaining a culture of compliance which will enable JLT in meeting its strategic objectives.

The format of the [Insert name of organisation] compliance structure has been determined based on the following underlying principles. The compliance function should be able to provide the board/trustees/partners/members [make the appropriate selection] of [insert name of organisation] with regular information regarding the level of compliance with supervisory requirements:
• Have adequate resources available to ensure proper compliance monitoring;
• Function adequately, independently or objectively;
• Ensure that no conflict of interest exists with other internal control functions;
• Report issues of non-compliance to the [Insert appropriate function or committee] in a timely manner; • Have direct access to the CEO; and
• Be able to liaise directly with the regulator particularly with regard to reporting required.

3. ROLES &
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ENDORSEMENT
JLT places high value on corporate governance and adhering to industry best practice. In order for JLT to live up to its “Client First”value, it is imperative that all employees behave in an ethical manner and continue to comply with the fit and proper standards.
JLT’s Board of Directors take responsibility for and are ultimately accountable for compliance. The compliance department has been tasked by the Board of Directors to implement the necessary measures to ensure JLT’s compliance. This includes ensuring that all employees behave ethically and with integrity as well as comply with the regulatory requirements and adhere to the various codes of conduct and best practice standards.
JLT is an Authorised Financial Services provider and in terms of the Financial Advisory and Intermediary Services Act, is required to appoint a compliance officer. JLT have established a compliance department which is managed by the Head of Compliance, Tara Langdon, who is the appointed internal compliance officer in terms of FAIS.

The compliance department is responsible for facilitating compliance and ensuring employees are aware of the compliance requirements. All employees need to ensure that they develop a good understanding of the regulations and comply with

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