Conflict of Interest Management Policy

All staff and employees of PRISM CONSULTANTS are to take notice of the existence of this document and to read and understand the contents thereof.

"Conflict of interest" means any situation in which a provider or representative has an actual or potential interest that may, in rendering a financial service to a client,-

a) Influence the objective performance of his or it's obligations to that client: or

b) Prevent a provider or representative from rendering an unbiased and fair financial service to that client, including, but not limited to -

A financial interest;

And ownership interest;

Any relationship with a third party.

A Provider or it's representatives may only receive or offer financial interest from or to a third party as laid down by the Code of Conduct authorized by the Short term Insurance ACT, 1998 (Act 53 of 1998) if those fee's and/or commissions are reasonable commensurate to a service being rendered.

No financial interest may be given to a representative by a provider 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.

Any conflict of interest should be avoided and where avoidance is not possible the reasons therefor and the measures for the mitigation of such conflicts of interest should be noted.

All files which had been worked upon should be signed off by a supervisor who will ensure no conflict of interest have been allowed.

Staff who are found to allow any conflict of interest will be warned in the prescribed manner and if after a formal inquest is still found lacking they will be dismissed accordingly.

 

This document will be updated as required.

 

 

Commitment to improving and promoting the image and standing of the intermediary industry

Commitment to improving and promoting the image and standing of the intermediary industry