TERMS & CONDITIONS

OrbVest Ltd engages the services of PKF Capital Markets (Seychelles) Limited (“PKF”), our broker-dealer partner located in the Seychelles. All KYC documents are vetted by PKF, which need to adhere to all KYC requirements set forth in the Seychelles’ Anti-Money Laundering And Countering the Financing of Terrorism Act, 2020 (as amended) and Securities Act, 2020 (as amended) and related regulations and instruments, in order to facilitate the opening of trading accounts on your behalf.

For access to the comprehensive PKF standard Terms and Conditions (as may be amended from time to time) please follow the link provided below.

Click here to download PKF Terms and Conditions

Next  Terms

By accessing the site, you agree that you have read, understood, and agree to be bound by the terms and conditions which are posted on the site at the time of such access and as amended from time to time.

By signing up to become a member of the OrbVest platform and by selecting ‘accept/agree’ online, you consent to the matters outlined in this privacy policy and that you are agreeing to the following:

1. Assessing your application.
2. Marketing of financial products and services to you.
3. Use your information to determine future product and business strategies to develop products and services; and to communicate with you in relation to our products and services, including on any transaction made and/or your account.
4. Providing products and financial services to you.
5. When we communicate with you for the above purposes, you consent to receive communications from us in any form, including email. Your personal information may be disclosed to entities associated with us, counterparties, or third-party product or service providers for the above purposes. It may also be disclosed to any financial institution nominated by you and may be disclosed to your financial adviser if you send a written request to do so.

PKF Capital is a reporting entity as well as North Capital, and as such clients must comply with the requirements of KYC/AML as part of the investment process and by accepting these terms and conditions, undertakes to cooperate fully in order to provide the requisite information or documentation. OrbVest US provides offerings under Rule 506(c) to “accredited investors” ONLY.

By accepting these terms, you agree and hereby undertake to provide the required KYC documentation as and when required to do so. In order to facilitate the investment process, the client will be allowed to proceed with the investment, subject to the conclusion of the KYC process. In the event that the particular investment is listed, but that the client has not completed the KYC process, PKF has the right to cancel the investment and return the funds to the client. In such an event, the client hereby specifically agrees that the client will bear the full cost of the sale of the shares being re-sold at a transaction cost of 5%. Upon conclusion of the sale of the shares and in order to facilitate the repayment to the client, the client’s funds will be wired to the bank account the original funds were wired from.

PKF Capital Markets (Seychelles) Limited is a licensed member of the Seychelles Stock Exchange (MERJ) and a registered Sponsor Adviser to listed companies and those wishing to list on the exchange. The Client hereby confirms that:

1. I will use the bank account, the details of which I provided, to make all deposits into my trading account with PKF Capital.
2. The details and proof I have given are correct and I will provide any additional documents required, for PKF Capital to comply with Know Your Client (KYC) regulations and FICA.
3. I have read, understood, and accept all aspects of the Risk Disclosure Statement.
4. I have read, understood, and accept all aspects of the Terms and Conditions for listed trading with PKF Capital.

The Collective Investment Schemes Control Act, 2002

ORB and OrbVest SA are not registered as management companies under the Collective Investment Schemes Control Act 2002 and as such do not operate a unit trust or a collective investment scheme.

The Financial Advisory and Intermediary Services Act, 2002

OrbVest SA (Pty) Ltd is a registered and authorized Financial Service Provider by the Financial Services Conduct Authority of South Africa under license number 50483. All information contained in this website/portal should not be construed or relied upon, as advice. If you require financial and/or investment advice, please engage the services of an independent financial adviser.

Financial Intelligence Centre Act

OrbVest SA (Pty) Ltd is considered to be an “accountable institution” for purposes of the FIC Act, together with PKF Capital. Clients must comply with the requirements of the FIC Act as part of the Know Your Customer (“KYC”) process of PKF Capital and as part of the investment process to exchange information.

Promotion of Access to Information Act

The Promotion of Access to Information Act, no. 2 of 2000 (the 'Act') gives persons the right of access to information that is required for the exercise or protection of any rights. For access to information to be granted, certain requirements must be met. The act also requires private bodies such as OrbVest to compile a manual to assist people who want to exercise their right to access to information. This manual, as well as the prescribed request form and fees payable if you wish to exercise your right of access to information, are available below.

Protection of Personal Information Act (POPI Act)

This privacy notice applies to you as a client or as a guest, namely a person who accesses or registers on our platform, regardless of the device you use to access it (e.g., a computer, mobile phone, tablet,etc.).This privacy notice does not apply to other parties' sites, products, or services, such as sites linked to, from, or advertised on our site, or sites that link to or advertise our site. Please refer to our “Privacy” tab for more detailed information regarding the protection of your information and our Privacy principles.

We may disclose your personal information to our service providers who are involved in the delivery of products or services to you. We have agreements in place to ensure that they comply with the privacy requirements as required by the Protection of Personal Information Act.

We may also disclose your information:

1. Where we have a duty or a right to disclose in terms of law or industry codes.
2. Where we believe it is necessary to protect our rights.
3. When we contract with third parties, we impose appropriate security, privacy, and confidentiality obligations on them to ensure that the personal information that we remain responsible for, is kept secure.
4. We will ensure that anyone to whom we pass your personal information agrees to treat your information with the same level of protection as we are obliged to.

We only use functional (or required) cookies that are necessary for this site to function, including those that are necessary for Google Analytics to work. We do analyze the use of this website to measure the audience, but it is de-identified data. In other words, we don't know who you are.

OrbVest SA (Pty) Ltd collects a variety of information that you provide directly to us. We process your information when necessary to provide you with the Services that you have requested when accepting our Terms of Service when you obtained prior consent, or where we have a legitimate interest to do so. For example, we may have a legitimate interest to process your information for security, testing, maintenance, and enhancement purposes of our service, or for analytics, research, and reporting purposes. Without your information, we cannot provide you with the Services you have requested, or you may limit your use of the Services.

You have the right to ask us to update, correct or delete your personal information. We will require a copy of your ID document to confirm your identity before making changes to the personal information we may hold about you. We would appreciate it if you would keep your personal information accurate.

No offers to sell securities or solicitation for any investment are made on any of the pages of this platform. An investment can only be made by members of the platform, based on independent financial advice, using the information provided in the investment section listed. OrbVest takes no responsibility for the information, recommendations, or opinions made.

Investing in real estate-backed investments is a higher risk / higher return investment strategy and carries significant risks, including illiquidity, loss of capital, the rarity of dividends, and dilution. It should only form part of a balanced investment portfolio and should be targeted at investors who are sufficiently sophisticated to understand the risks involved and are capable of making their own investment decisions.

For more information, please view our Risk Policy

Next  Risk Policy & Disclosure

Investing in real estate backed investments can be very rewarding, however it also involves a number of risks.

The purpose of this risk warning is to ensure that you, as a potential investor, understand the risks involved. If you choose to invest through the platform, you should understand and accept five important considerations:

Your investment is not guaranteed and by investing via this platform in the real estate investment opportunities, you accept that you may lose all of your investment if they fail. You should not invest more money through the platform than you can afford to lose without having to alter your standard of living.

The investment opportunities on the platform are publicly-listed companies or special purpose entities to acquire the real estate investments. They have limited liquidity and currently there is only a very small secondary market for any investments made through the platform. This presents a risk to investors, who are referred to the Property Supplement, or PPM, and other risk disclosures in this regard.

Companies have no obligation to pay dividends to shareholders. Generally, investee companies will reinvest profits to grow and build shareholder value. This means that if you invest in an unlisted company through the platform, even if it is successful, you are unlikely to see any return of capital or profit until you are able to sell your shares in the investee company. Even for a successful company, this is unlikely to occur for a number of years from the time you make your investment.

Any investment you make through the platform may be subject to dilution. This means that if the company raises additional equity funding in the future, it will issue new shares to new investors and the percentage of the business you own will decline. Any new shares may also allow for certain preferential rights to dividends, sale proceeds and other matters. If those rights are exercised by new investors, this may work to your disadvantage. If the investee company grants options (or similar rights to acquire shares) to connected employees, service providers or certain other parties/individuals, then your investment may also be diluted as a result.

Investing in real estate should be part of a diversified investment portfolio. Not every type of investment will be appropriate for every investor. To spread and minimize your risk, you should invest smaller amounts in multiple businesses and/or real estate. You are urged to obtain independent financial, legal and tax advice in this regard.

The information in this Risk Disclosure Statement is general information only and does not take into account your personal objectives, financial situation and needs. You should consider these things and seek independent professional advice before making a decision about our financial products.

You must be satisfied that any trading you undertake in relation to the products described in this Risk Disclosure Statement is appropriate in view of your objectives, financial situation and needs. By accepting these terms and conditions, you hereby agree to be aware of the following:

1. All stock market-based investment is exposed to a degree of risk.
2. Market fluctuations may have an effect on the value, price or income of investments.
3. Investment capital is not guaranteed, and past performance is not a guide to future investment performance.
4. You are responsible for the selection of any transaction that you place on the trading platform. As such, the performance of any trade will depend mainly on investment decisions made by you. PKF Capital does not make any representations regarding the performance of any investment.
5. Under certain market conditions it may be difficult or impossible to close out a position. This may occur, for example, where trading is suspended or restricted at times of rapid price movement.
6. Where permitted, placing a stop-loss order will not necessarily limit your losses to the intended amounts, as market conditions may make it impossible to execute such orders at the stipulated price.
7. Prior to the commencement of trading, you should require from your broker written confirmation of all current commission, fees and other transaction charges for which you will be liable.
8. Your broker’s insolvency or that of any other brokers involved in your contracts may lead to your positions being closed out without your consent.
9. Your ability to trade depends on the continued operation of, among other things, the PKF Capital Trading Platform, the internet, and your personal computer. A fault, delay or failure of any of these things could prevent you from placing Orders and may result in losses on your Open positions.
10. You should read all available information on the PKF Capital Trading Platform including, but not limited to, the client Terms and Conditions in order to properly consider your risks.
11. You should carefully consider whether your financial position permits you to participate in a syndicate. Areas of particular concern are charges for management, advisory and brokerage fees; the performance record of the syndicate and for how long it has been operating; and the credibility of management.
12. Your broker should explain to you the meaning of the various terms set out herein so that you are fully aware of their significance.
13. You should carefully consider whether trading is appropriate for you in light of your experience, objectives, financial resources and other relevant circumstances.
14. Before trading listed instruments on any exchange, you should be aware of tax consequences and on this you should consult your lawyer, accountant or other tax advisor.
15. OrbVest shall pay the principal and interest on the Notes when due and payable. For the avoidance of doubt, this shall in no way be construed as OrbVest providing any guarantee or warranty in respect of payment of principal and interest on the Notes.
16. This investment, by subscribing to the Note, is appropriate only for investors who have no need for immediate liquidity in their investments or cash flow requirements and who have adequate means of providing for their current financial needs, obligations and contingencies, even if such investment results in a total loss. Investment in the Notes involves a degree of risk and is suitable only for an investor with investment experience or based on independent financial advice, which will render the investor capable of evaluating every risk of the proposed investment in the Notes.
17. The Investment in the Note and subsequent deployment of the funds will be subject to real estate related risks. The Investments into the subject real estate will relate directly or indirectly to real estate and can be impacted by a variety of factors. Some of those factors include: (i) economic conditions in the U.S. and/or international markets, (ii) local market factors such as an abundance of space or a drop in demand for space; (iii) financial condition of tenants, buyers and sellers of properties;(iv) changes in rental rates; (v) location and quality of the properties and changes in the relative demand for property types and locations; (vi) the strength and capability of property management; (vii) potential liability under changing environmental and other laws or succession in ownership and fluctuations in real estate tax rates and other operating costs and expenses; (viii) energy and supply shortages; (ix) fluctuations in interest rates and the availability of debt financing; (x) uninsured losses or delays from casualties or condemnation; (xi) government regulations (including those governing usage, improvements, zoning and taxes) and fiscal policies; (xii) quality of maintenance, insurance and management services; (xiii) property level or structural latent defects; and (xiv) acts of God, acts of war (declared or undeclared), terrorist acts, strikes, epidemics and pandemics (such as COVID-19) and other factors beyond the control of the Issuer.
18. The Notes represent debt obligations of the Company and in the event of any liquidation or bankruptcy of the Company, Noteholders may receive less than the principal amount of their investment and Noteholders must be aware of the risk of default and/or non-payment by the issuer. If an investor cannot afford to lose the entire amount of such investor’s investment in the Notes, the investor should not invest in the Notes

Next  Privacy Policy

(updated in response to guidance and best practice advice issued by the Information Commissioner’s Office relating to the change in data protection law in the UK on 25 May 2018)

 

By signing up to become a member of OrbVest on the website and by selecting ‘accept/agree’ online, you consent to all clauses in the Privacy Policy, as set out more fully below.

This Privacy Policy is designed to help you understand what personal information we collect, why we collect it, how we use it and with whom we share it. It also explains the rights you have in connection with your personal information, including how to contact us or make a complaint. This policy applies to OrbVest Ltd, also referred to throughout as “we”, “us”, “our” or “OrbVest”.

This refers to information about a living person which identifies that person. Some of that information will identify a person directly, for example by giving a name and email address. It may be possible to identify someone indirectly, from information in which their name is not given, for example by giving their job title and employer, or by using another form of identifier such as their IP address.

The type of personal information we collect, and process depends on our relationship with you and the context in which we obtain and use it. The list below sets out the personal information we will or may collect, depending on the circumstances.

1. Your full name, title, postal address and telephone number;
2. Information to enable us to check and verify your identity, e.g. your date of birth, National Insurance number, identity number or passport details;
3. Electronic contact details, e.g. your email address and mobile phone number;
4. Information necessary in relation to the provision of our services;
5. Information about your use of our IT, communication and other systems, and other monitoring information, e.g. if you use our secure online client portals or leave a voicemail message.

We may collect personal information from you in person, via telephone or email communication from your initial enquiry about our services and as we provide you with services. This may also include via our website and secure portal. Third parties may pass personal information to us to use in the course of providing our services, in which case they will either have your consent to do so or will be able to rely on one of the lawful exceptions namely “legal basis”. The processing of this personal information may be necessary for the provision of our services and to enable us to act in your best interests.

We may receive information about you from third parties in any of the following ways:

1. a third party with your consent, e.g. your solicitors, accountants, and other professionals we may engage with in relation to our services;
2. our information technology systems, e.g., our website or other relevant websites and applications;
3. automated monitoring of our website and other technical systems, such as our computer networks, email, voicemail and instant messaging systems.

We may come across personal data which involves children. In these instances, the individual or entity providing such personal data must confirm that they have obtained the necessary consents from the parent(s) or guardian(s) of those children. The third party will explain to the parent or guardian why we need any personal information relating to the children and how it will be used, both when we first collect the data and on an ongoing basis.

We use Google Analytics to collect statistical information about the number of visitors to our website. This information includes, pages visited, and content searched. Further information can be obtained from the Google Privacy Policy. We use this information to maintain and improve our website and the services we provide and to analyse and understand what is of interest to our website visitors, so we can improve and tailor the content and this data will not directly or indirectly reveal your identity.

We use technology to track the patterns of behaviour of visitors to our website. This can include using a “cookie” which would be stored on your browser or the hard drive of your computing device.

Under data protection law, we can only use your personal information if we have a proper reason for doing so, for example:

1. to comply with our legal and regulatory obligations;
2. for our legitimate interests (see below) or those of a third party;
3. for the performance of our contract with you or to take steps at your request before entering into a contract;
4. you have given consent.

In general terms we will collect personal information to:

1. provide you with our services;
2. manage our relationship with you and to comply with our legal or regulatory obligations arising from it.

We will only use your personal information for the purposes for which we collected it, unless we reasonably consider that we need to use it for another reason and that reason is compatible with the original purpose. If we need to use your personal information for an unrelated purpose, we will notify you and explain the legal basis which allows us to do so.

We may process your personal information without your knowledge or consent, in compliance with the above rules, where this is required or permitted by law.

We share your personal information with:

1. professional advisers who we instruct on your behalf or refer you to e.g. lawyers, accountants, etc.;
2. other third parties where necessary to carry out your instructions e.g. relevant regulatory and authorities;
3. our bank/s, insurers, brokers or other professional advisers;
4. external service suppliers, representatives and agents that we use to make our business more efficient.

Our IT support and service providers may also access your personal information as a consequence of them providing support to us.

We only allow our service providers to handle your personal information if we are satisfied they take appropriate measures to protect it. We also impose contractual obligations on service providers to ensure they can only use your personal information to provide services to us and to you.

We may disclose and exchange information with law enforcement agencies and regulatory bodies to comply with our legal and regulatory obligations. We may also need to share some personal information with other parties. For example, if we, in the course of our own business operations, sell or buy any business or assets we may disclose personal information held by us to the prospective seller or buyer of those businesses or assets.

Where possible, anonymity will be retained, but the recipient of the information will also be bound by confidentiality obligations. If we are acquired, or substantially all of our assets are acquired, by a third party (or are subject to a re-organisation), personal information held by us will be one of the assets which is transferred.

Information may be held at our offices, third party agencies, service providers, representatives and agents as described above (see Who we share your personal information with).

We will only retain your personal information for as long as necessary to fulfil the purposes we collected it for, including to satisfy any legal, accounting, or reporting requirements.

When it is no longer necessary to retain your personal information, we will delete or anonymise it. If we anonymise it (so that it can no longer be associated with you) for research or statistical purposes, we may use it indefinitely, without further notice to you.

To determine the appropriate retention period for personal information, we consider the amount, nature, and sensitivity, the potential risk of harm from unauthorised use or disclosure of it, the purposes for which we process it and whether we can achieve those purposes through other means, and the applicable legal requirements. In some circumstances you can ask us to delete your data: see “Your rights with respect to your personal information”.

We only keep your personal information for as long as is necessary to:

1. carry out our services;
2. respond to any questions, complaints or claims made by you or on your behalf;
3. show that we treated you fairly;
4. keep records required by law to comply with our legal obligations and our duties to regulators, including in relation to anti-money laundering legislation.

We have put in place appropriate security measures to prevent your personal information from being accidentally lost, used or accessed in an unauthorised way, altered or disclosed. In addition, we limit access to your personal information to those employees, agents, contractors and other third parties who have a business need to know and they are subject to a duty of confidentiality.

We have put in place procedures to deal with any suspected personal data breach and will notify you and any applicable regulator of a breach where we are legally required to do so or where we have otherwise agreed with you that we will.

We also maintain our own internal audit program to verify that our staff are familiar with and adhere to our policies and procedures.

If we have given you a username and password which allows you to access certain parts of our services via our systems, you are responsible for keeping it confidential.

You are entitled at any time to ask us for a copy of personal information we hold about you, known as a data subject access request. You are also entitled to ask that any information we hold about you is supplemented, updated or rectified. You can make any of these requests free of charge by contacting us in writing.

In certain circumstances you can also ask us to restrict our processing of your personal information, e.g. if you contest the accuracy of it. We will always review your request and will inform you if we decide we are not required to action it. If you require us to restrict or stop processing your personal information in any way, this may impact on our ability to provide our legal or professional services to you. Depending on the nature of your requests we may have to stop acting for you, but you will still have to pay any unpaid fees and disbursements which we have incurred on your behalf until that date.

You are entitled to ask that we send a copy of the personal information we hold about you to another organisation for your own purposes, for example if you intend to instruct another service provider instead of us. If you want us to move, copy or transfer your personal information in these circumstances, please contact us.

If you have any complaints or queries about our Privacy Policy, please contact us on support@orbvest.com

Next  Conflict of Interest Policy

In terms of the General Code of Conduct Board Notice 80 of 2004 as amended by Board Notice 58 of 2010 and BN706 of 2020, it is required that a FSP must maintain and operate effective controls and measurements, taking reasonable steps to identify, monitor and manage conflict of interest to safeguard its clients’ interest and ensure fair treatment of clients.

It is the objective of this policy to provide adequate conflict of interest management where all providers, Key Individuals, Representatives, associates and administrative processes, will ensure that the quality of financial services is not compromised, professionalism levels will be maintained, and client will receive best advice. It will further ensure that full disclosures are made to the client where a conflict of interest exists. In addition, all staff must make a declaration as to whether a conflict of interest exist between themselves, the FSP, a client or a supplier of the FSP. This policy addresses mechanisms for identification of conflict of interest, avoidance of conflict of interest or mitigation where avoidance is not possible and disclosure of conflict of interest.

The FSP commits itself to conducting its business honestly, fairly, and ethically wherever we operate in the world. We constantly improve the quality of our services, products and operations and strive to create and maintain our reputation for honesty, fairness, respect, responsibility, integrity, trust, and sound business judgment. No illegal or unethical conduct on the part of officers, directors, employees, or affiliates is in the business’s best interest. The business will not compromise its principles for short-term advantage. The ethical performance of this business is the sum of the ethics of the men and women who work here; thus, we are all expected to adhere to high standards of personal integrity.

We acknowledge that operating a business naturally creates conflicts which might increase reputational risk; it is further for this reason that a Conflict-of-Interest Policy is fully subscribed to by all stakeholders.

A conflict of interest may exist when a director or employee is involved in an activity or has a personal interest that might interfere with his or her objectivity in performing business duties and responsibilities.

Such conflicts may appear as favoritism or otherwise damage the reputation of the business or its employees. An actual conflict of interest does not need to be present to constitute a violation of this procedure. Activities that create the appearance of a conflict of interest must also be avoided to ensure that the reputation of the business and its employees are not harmed.

Personal interests of employees must not influence or appear to influence business transactions. This procedure provides the requirements for managing, avoiding, and disclosing potential conflicts of interest and the process for obtaining a conflict-of-interest review.

The purpose further of this document is to provide our clients with appropriate information in relation to the policies we have in place to manage conflicts of interest. Where a conflict of interest exist, disclosure is made to the FSP and interested parties and a management program is launched.

Our representatives are remunerated by commission only. In addition, commissions and fees are received only where the client has agreed to it in writing and fees may be stopped at the discretion of that client.

We strive to ensure our employees remain motivated whilst at the same time ensuring this remuneration scheme does not encourage inappropriate behavior. We recognize this conflict and through our monitoring mechanisms remain alert to potential abuse. It is the policy of the business that no representative shall be remunerated or receive a financial interest as part of an incentive structure with its main or sole aim to increase production.

Incentives and production bonuses must take into account:

1. A combination of quantitative and qualitative criteria; and not limited to a specific product supplier; and- not limited to a specific product.
2. Any incentive or bonus scheme must be approved by Justin Clarke in writing prior to being implemented. All incentive projects must be disclosed to clients of the business and must be attached to this policy, together with a description of the nature and basis of participation and any other rules as well as the duration of the incentive project.

The FSP or its representatives does not tolerate or accept any financial interest from a provider:

1. That is determined with reference to the quantity of business secured for the provider without also giving due regard to the delivery of fair outcomes for clients; or
2. for giving preference to a specific product supplier, where a representative may recommend more than one product supplier to a client: or
3. for giving preference to a specific product of a product supplier, where a representative may recommend more than one product of that product supplier to a client.

The FSP ensures that all monies paid to a representative takes into account:

1. Achievement of minimum service level standards in respect of clients; and
2. delivery of fair outcomes for clients.
3. Quality of the representative’s compliance with this act.

With sufficient weight is attached to such indicators to materially mitigate the risk of the representative giving preference to the quantity of business secured for the provider over the fair treatment of clients.

To adequately manage conflicts of interest, the business must identify all relevant conflicts timeously.

Two levels of identification are employed:

Business level: The managing body will annually identify an index of potential conflict risks. The index is updated with all new conflicts identified, and to ensure completeness is reviewed on an annual basis.
Employee level:All employees, including compliance officers and management, are responsible for identifying specific instances of conflict and are required to notify their manager of any conflicts they become aware of. They are further required to disclose all conflict of interest as they may arise and where there is no conflict-of-interest attest to the fact.

In managing conflicts of interest, our procedure is to:

1. Identify the conflicts of interest.
2. Assess and evaluate those conflicts; and
3. Decide upon, and implement, an appropriate response to those conflicts

The following is a list of possible management strategies to manage the potential or actual conflict of interest:

1. Avoid the conflict of interest
2. Mitigate the impact
3. Where this is not possible, full disclosure of the Conflict of interest (COI.)
4. Implement a strategy to manage the conflict of interest where it cannot be avoided

Material conflicts:

Where a conflict will have a serious potential impact on our clients or our business, it must be avoided. Only Justin Clarke or person authorized by him may make the final decision regarding a material conflict and whether the management process must be followed. Officers, directors,and employees must avoid representing the business in any transaction with others with whom there is any outside business affiliation or relationship. Officers, directors, and employees must avoid using their business contacts to advance their private business or personal interests at the expense of the business, its clients, or affiliates. Officers, directors, and employees of the business must never permit their personal interests to conflict, or appear to conflict, with the interests of the business, its clients, or affiliates.

This may include but is not exclusive to:

1. Real or perceived financial gain resulting from recommendations to our clients at a cost to the client
2. An outcome in service delivery or a transaction that may differ from the real interest of the client.
3. Any non-cash incentives that may be received by the business from affecting any transaction and / or product.
4. Effecting a transaction and / or product that may result in a benefit to another party other than the client.

It is this business policy to avoid all possible conflicts of interest, but if this is not possible, then full disclosure of this conflict must be made in writing to our clients. Our clients will be adequately informed about any conflicts of interest that might affect the provision of financial services to them. This means providing clear, concise and effective disclosure so that clients can make an informed decision about how the conflict might affect the relevant service.

Where a conflict is identified and a decision made, the nature of the decision must be communicated to the third party in writing as soon as possible. This applies regardless of whether the decision was made to stop doing business or continue with the business, despite the existence of the conflict.

Written records of how conflicts of interest are managed, together with all reports referred to, must be kept for a period of 5 years and be available for inspection by the compliance officer on request. (For example, records of disclosures made and actions taken over any breaches of policies and procedures).

Before entering into any third party agreement, the FSP will conduct a due diligence to satisfy itself that no conflict of interest exist between the parties or where there is a conflict of interest, that such conflict of interest is properly managed, TCF principles are adhered to and that the product/ or service levels to the clients are what clients may expect and that a conflict of interest that exists does not compromise the level of service. The executive committee of the business or any other appropriate forum or person will review all conflicts every quarter and make recommendations regarding steps to avoid a recurrence of those aspects.

We regularly monitor the third party's customer treatment standards, including how the third party meets customer expectations.

Louw Viljoen will accept responsibility for the implementation of all steps necessary. Notice of the attention paid to conflict of interest must be contained in the minutes of the meetings of the Executive/ Key Individuals and the relevant extracts of the minutes must be made available to the business’s compliance officer on request, to enable the external compliance officer to report on compliance with this policy.

Where an employee does not abide by the Conflict-of-Interest policy of the FSP.

The official policy of the business is as follows:

1. No bribes, kickbacks or other similar remuneration or consideration shall be given to any person or organisationin order to attract or influence business activity. Officers, directors and employees shall avoid gifts, gratuities, fees, bonuses or excessive entertainment, in order to attract or influence business activity.
2. Any gifts or gratuities over the value of R1000 (annual calendar year total) from any other person or their associate as defined in Financial Services Board Notice 58 of 2010 may not be accepted by any person in the organization and neither may such gifts or incentives be given by any person in the business, to any third party. No gifts or gratuities may be accepted or given without written consent from Justin Clarke.
3. In exercising discretion, Justin Clarke must have regard to any commission regulations or other laws which may be breached by the receipt of such gift. A written statement from the giver explaining the reason for and purpose of the gift must accompany any request for authorization. This provision also applies to invitations to any functions, including lunches, dinners, training interventions and prize-giving. The Gifts register may be an electronic register and care must be taken to mitigate the risk of tampering.
4. The gifts register shall be audited by the Compliance Practice regularly to ensure that incentives did not exceed the aggregate value of R1 000.00. The results of the audit shall be communicated to the CEO. In determining whether any gift or incentive is to be allowed, the CEO shall have regard to this report.

Personal interests may include working relationships and/or financial interests with immediate family members or relatives. Activities include outside employment in areas similar to those in which the Business is involved;

1. Outside work for clients, suppliers, vendors, or competitors of the business.
2. Operating as a supplier to the business.
3. Activities that have the potential to affect the staff member’s objectivity.
4. Activities that could reflect negatively on the reputation of the business and its employees.
5. Holding a financial interest in a business concern that is a supplier, client, partner, subcontractor, or competitor of the business constitutes a conflict of interest under certain conditions.
6. Incentive remuneration for placing a quantity of business with only 1 supplier, or for only 1 product of a supplier where a choice is available.
7. Participating in any activity that might lead to or give the appearance of unapproved disclosures of the business’ confidential information or client confidential information.
8. Using an official position to obtain special privileges or advantages from individuals or businesses.
9. An employee, officer or director may serve on external non-profit, governmental or for-profit governance boards, however if such service in any way could create an actual or perceived conflict of interest, the services must be disclosed, and approved by the governing body of the business.

No person may receive or solicit outside employment, including paid service on a governance board, or compensation that would impair the independence of judgment of the individual in performing duties as an employee of the business.

We, or some other person connected with us may have an interest, relationship or arrangement that is material to the service, or transaction concerned.

To manage such conflicts, we require our staff members to fully disclose, and disregard when dealing with our clients:

1. Financial interest in any supplier, client or competitor entity.
2. Acting as an employee, officer, director, consultant, representative, or agent for a supplier, client, partner, subcontractor, or competitor.
3. Engaging in any activity that could create the appearance of a conflict of interest, which may impair the reputation of The Business for impartiality and fair dealing.

Officers, directors, and employees of the business will often come into contact with, or have possession of, proprietary, confidential or business-sensitive information and must take appropriate steps to assure that such information is strictly safeguarded. This information – whether it is on behalf of our business or any of our clients or affiliates – could include strategic business plans, operating results, marketing strategies, client lists, personnel records, upcoming acquisitions and divestitures, new investments, and manufacturing costs.

Processes and methods. Proprietary, confidential, and sensitive business information about this business, other companies, individuals and entities should be treated with sensitivity and discretion and only be disseminated on a need-to know basis. No disclosure of confidential information is permitted without written permission of the client or the most senior manager of this business. Misuse of material inside information in connection with trading in the business’s securities can expose an individual to civil liability and penalties. Under current legislation, directors, officers, and employees in possession of material information not available to the public are “insiders”.

Spouses, friends, suppliers, brokers, and others outside the business who may have acquired the information directly or indirectly from a director, officer or employee are also “insiders.” The Act prohibits insiders from trading in, or recommending the sale or purchase of, the business’s securities, while such inside information is regarded as “material”, or if it is important enough to influence you or any other person in the purchase or sale of securities of any business with which we do business, which could be affected by the inside information.

The following guidelines should be followed in dealing with inside information:

1. Until the material information has been publicly released by the business, an employee must not disclose it to anyone except those within the business whose positions require use of the information.
2. Employees must not buy or sell the business’s securities when they have knowledge of material information concerning the business until it has been;
3. Disclosed to the public and the public has had sufficient time to absorb the information.
4. Employees shall not buy or sell shares of another corporation, the value of which is likely to be affected by an action by the business of which the employee is aware and which has not been publicly disclosed.

Officers, directors, and employees will seek to report all information accurately and honestly, and as otherwise required by applicable reporting requirements. Officers, directors, and employees will refrain from gathering competitor intelligence by illegitimate means and refrain from acting on knowledge which has been gathered in such a manner. The officers, directors and employees of the business will seek to avoid exaggerating or disparaging comparisons of the services and competence of their competitors.

All the FSP’s staff be aware of this policy and receive training on this policy.

A copy of the policy will be provided to each staff member at inception of that staff member’s duties and updated versions must be circulated as and when they are updated. It is the responsibility of Louw Viljoen to ensure that the provisions of this paragraph are complied with.

All staff will sign an affidavit declaring that no conflict of interest exist between themselves and the FSP and where there is a conflict of interest, such conflict is declared to ensure the proper management thereof.

Next  Compaints Policy

It is the aim of OrbVest through this document to give clear and concise guidelines when receiving a complaint and the successful documenting and resolution of complaints in terms of the General Code of Conduct.

OrbVest adheres and is fully committed to the requirement in terms of the General Code of Conduct as set out in Board Notice 80 of 2008 as amended, that each FSP must have the framework of a complaint appropriate for its business model, services and clients and proportionate to the nature, scale, and complexity its business risks. The purpose of the policy is to establish and maintain procedures for the effective internal resolution of complaints. This policy is available to each client on our website.

Our governing body has taken responsibility for complaints management and is committed to overseeing the effectiveness of the implementation of this framework. Our Complaints Officer is qualified and authorized to address complaints on behalf of OrbVest and will be responsible as the first port of call. He has the appropriate mix of experience, knowledge, and skills in complaints handling. Where a complaint cannot be resolved, our escalation process will be followed, and the matter will be referred to the EXCO for further assessment.

All reportable complaints are categorized into complaints relating to:

1. Design of a financial product, financial service, or related service, including the fees. premiums, or other charges related to that financial product or financial service.
2. Information provided to clients.
3. Advice given.
4. Financial product or financial service performance.
5. Service to clients, including complaints relating to premium or investment contribution collection or lapsing of a financial product.
6. Financial product accessibility, changes, or switches, including complaints relating to redemptions of investments.
7. Complaints handling.
8. Insurance risk claims, including non-payment of claims.
9. Other complaints.

When a complaint cannot be resolved or involves various components, such a complaint is escalated to the EXCO who will review and assess the matter. Where the complaint is of a nature that cannot be resolved by the Complaints Officer, the external Compliance Officer is informed who in conjunction with the Complaints Officer will review the complaint, and action is taken accordingly. The team will endeavor to resolve complaints as soon as possible. Where a complaint is more complex or unusual, the Complaints Officer will escalate the complaint to the EXCO who will assess and resolve the case in an impartial manner. The Complaints Officer will manage the process to ensure the fair treatment of complainants and ensures an expedient outcome.

In terms of the FAIS Act, a complaint means a specific complaint relating to a financial service rendered to the client on or after the date of commencement of the FAIS Act, alleging that OrbVest:

1. Has contravened or failed to comply with a provision of the FAIS Act and that, as a result, the client has suffered or is likely to suffer financial prejudice or damage.
2. Has wilfully or negligently rendered a financial service to the client which has caused prejudice or damage to the client, or which is likely to result in such prejudice or damage.
3. Has treated the client unfairly.

Note that in terms of the FAIS Act, the client need not have already suffered a financial loss or incurred damages before a complaint may arise but need simply be a possible consequence of the financial service rendered by OrbVest.

1. We will attend to and resolve any complaint timeously and fairly.
2. Complaints must be in writing and will be logged, and you will be provided with a receipt.
3. TCF principles will be applied at all times when dealing with a complaint.
4. A register displaying all complaints from clients whether escalated to the FAIS Ombud or not is kept and forms part of the Management Information report dealt with at an executive level. This will ensure that complaints are analyzed and changes effected where necessary to align the system more to better serve you, the client.
5. Where a client’s needs have changed and the product is no longer appropriate, we will endeavor to adapt to the client’s needs and requirements.
6. All relevant staff are trained with regard to the resolution of complaints in accordance with the relevant provisions of the General Code of Conduct 80 of 2008 as amended.
7. Records of all complaints will be kept for a minimum period of 5 years. It is a statutory recordkeeping requirement in terms of FAIS, and as such, all your personal information (as per the Protection of Personal Information Act – POPI) submitted will similarly be held for this period. The information will be made available to/processed by our staff where required, as well as our compliance officer for audit purposes, the Regulator (FSCA), and any Ombud who has jurisdiction.

Once a decision regarding a complaint has been taken, it is our commitment to make the compensation payment, goodwill payment, or any other action immediately without undue delay. If a complaint is rejected, we will provide the complainant with clear reasons for the decision and inform the client of the escalation processes, including how to use them and any relevant time limits.

This framework includes a register where all complaints received are logged upon receipt. Once a complaint is received, a file is opened, and all evidence and correspondence are filed in the complainant’s file. Complaints are categorized, and the progress of the complaint is logged.
On a monthly basis, the governing body receives the following information:

1. Number of complaints received.
2. Number of complaints upheld.
3. Number of rejected complaints and reasons for the rejection.
4. Number of complaints escalated by complainants to the internal complaint’s escalation process.
5. Number of complaints referred to an Ombud and their outcome.
6. Number and amounts of compensation payments made.
7. Number and amounts of goodwill payments made.
8. The total number of complaints outstanding.

Complaints information is scrutinized, analyzed, and then utilized by management to manage risks and improve outcomes for clients. It is further used to prevent recurrences of poor outcomes and errors.

When the Complaints Officer receives your complaint, he/she will:

1. Acknowledge receipt, in writing, within 48 hours and add your complaint to our internal complaints register. In addition to this, you will be provided with the name and contact details of the person responsible for the resolution of your complaint.
2. Your complaint will be categorized, and the date and contents will be logged on our complaints register, and will start the investigation immediately.
3. We may ask for additional information if needed.
4. We will endeavorto resolve this within 21 days of receiving your complaint, or after receiving any additional information we require. You will be kept informed of the progress of the complaint and causes of any delay together with a revised timeline.
5. If we require further time to investigate the complaint, this will be communicated to you in writing. In addition, at this time we will provide you with details of the internal complaints escalation and review process should the complainant not be satisfied with the outcome of the complaint.
6. We will let you have our response in writing with full reasons for the decision taken.
7. In the event of us not being able to resolve the complaint or if you are not satisfied with our response, the complaint may be pursued, within a six (6) month’s period, with the FAIS Ombud, or any other Ombud who has jurisdiction, contact details below. Alternatively, you may approach your own legal counsel.
8. This procedure will be reviewed on an annual basis to ensure that service delivery to the client is acceptable and in line with TCF principles.

Should your complaint be referred to the Ombud, the following must be kept in mind:

The FSP is required to be provided with a six-week period within which to resolve any complaint before the FAIS Ombud will have jurisdiction.

1. The FAIS Ombud will not adjudicate in matters where the claim is in excess of R800 000.
2. If you already instituted an action in a court of law in respect of this complaint the Ombud will not consider the complaint.
3. If the complaint was not resolved through conciliated settlement, the Ombud may make a determination that has the same legal status of a civil court judgment.
4. An award of costs may be made against the person complained against.
5. An award of costs may be made against a complainant if the conduct of the complainant was improper or unreasonable, or if the complainant caused an unreasonable delay in the finalization of the investigation

Should you wish to submit a formal complaint, please email us at support@orbvest.com with the subject line Complaints.

Tel: 012 762 5000 / 012 470 9080
E-mail: info@faisombud.co.za
www.faisombud.co.za

Tel: 021 657 5000 / 0860 103 236
Share call: 0860 103 236
E-mail: info@ombud.co.za
www.ombud.co.za

Tel: 011 726 8900
Share call: 0860 726 890
E-mail: info@osti.co.za
www.osti.co.za

END

It is the aim of OrbVest through this document to give clear and concise guidelines when receiving a complaint and the successful documenting and resolution of complaints in terms of the General Code of Conduct.

OrbVest adheres and is fully committed to the requirement in terms of the General Code of Conduct as set out in Board Notice 80 of 2008 as amended, that each FSP must have the framework of a complaint appropriate for its business model, services and clients and proportionate to the nature, scale, and complexity its business risks. The purpose of the policy is to establish and maintain procedures for the effective internal resolution of complaints. This policy is available to each client on our website.

Our governing body has taken responsibility for complaints management and is committed to overseeing the effectiveness of the implementation of this framework. Our Complaints Officer is qualified and authorized to address complaints on behalf of OrbVest and will be responsible as the first port of call. He has the appropriate mix of experience, knowledge, and skills in complaints handling. Where a complaint cannot be resolved, our escalation process will be followed, and the matter will be referred to the EXCO for further assessment.

All reportable complaints are categorized into complaints relating to:

1. Design of a financial product, financial service, or related service, including the fees. premiums, or other charges related to that financial product or financial service.
2. Information provided to clients.
3. Advice given.
4. Financial product or financial service performance.
5. Service to clients, including complaints relating to premium or investment contribution collection or lapsing of a financial product.
6. Financial product accessibility, changes, or switches, including complaints relating to redemptions of investments.
7. Complaints handling.
8. Insurance risk claims, including non-payment of claims.
9. Other complaints.

When a complaint cannot be resolved or involves various components, such a complaint is escalated to the EXCO who will review and assess the matter. Where the complaint is of a nature that cannot be resolved by the Complaints Officer, the external Compliance Officer is informed who in conjunction with the Complaints Officer will review the complaint, and action is taken accordingly. The team will endeavor to resolve complaints as soon as possible. Where a complaint is more complex or unusual, the Complaints Officer will escalate the complaint to the EXCO who will assess and resolve the case in an impartial manner. The Complaints Officer will manage the process to ensure the fair treatment of complainants and ensures an expedient outcome.

In terms of the FAIS Act, a complaint means a specific complaint relating to a financial service rendered to the client on or after the date of commencement of the FAIS Act, alleging that OrbVest:

1. Has contravened or failed to comply with a provision of the FAIS Act and that, as a result, the client has suffered or is likely to suffer financial prejudice or damage.
2. Has wilfully or negligently rendered a financial service to the client which has caused prejudice or damage to the client, or which is likely to result in such prejudice or damage.
3. Has treated the client unfairly.

Note that in terms of the FAIS Act, the client need not have already suffered a financial loss or incurred damages before a complaint may arise but need simply be a possible consequence of the financial service rendered by OrbVest.

1. We will attend to and resolve any complaint timeously and fairly.
2. Complaints must be in writing and will be logged, and you will be provided with a receipt.
3. TCF principles will be applied at all times when dealing with a complaint.
4. A register displaying all complaints from clients whether escalated to the FAIS Ombud or not is kept and forms part of the Management Information report dealt with at an executive level. This will ensure that complaints are analyzed and changes effected where necessary to align the system more to better serve you, the client.
5. Where a client’s needs have changed and the product is no longer appropriate, we will endeavor to adapt to the client’s needs and requirements.
6. All relevant staff are trained with regard to the resolution of complaints in accordance with the relevant provisions of the General Code of Conduct 80 of 2008 as amended.
7. Records of all complaints will be kept for a minimum period of 5 years. It is a statutory recordkeeping requirement in terms of FAIS, and as such, all your personal information (as per the Protection of Personal Information Act – POPI) submitted will similarly be held for this period. The information will be made available to/processed by our staff where required, as well as our compliance officer for audit purposes, the Regulator (FSCA), and any Ombud who has jurisdiction.

Once a decision regarding a complaint has been taken, it is our commitment to make the compensation payment, goodwill payment, or any other action immediately without undue delay. If a complaint is rejected, we will provide the complainant with clear reasons for the decision and inform the client of the escalation processes, including how to use them and any relevant time limits.

This framework includes a register where all complaints received are logged upon receipt. Once a complaint is received, a file is opened, and all evidence and correspondence are filed in the complainant’s file. Complaints are categorized, and the progress of the complaint is logged.
On a monthly basis, the governing body receives the following information:

1. Number of complaints received.
2. Number of complaints upheld.
3. Number of rejected complaints and reasons for the rejection.
4. Number of complaints escalated by complainants to the internal complaint’s escalation process.
5. Number of complaints referred to an Ombud and their outcome.
6. Number and amounts of compensation payments made.
7. Number and amounts of goodwill payments made.
8. The total number of complaints outstanding.

Complaints information is scrutinized, analyzed, and then utilized by management to manage risks and improve outcomes for clients. It is further used to prevent recurrences of poor outcomes and errors.

When the Complaints Officer receives your complaint, he/she will:

1. Acknowledge receipt, in writing, within 48 hours and add your complaint to our internal complaints register. In addition to this, you will be provided with the name and contact details of the person responsible for the resolution of your complaint.
2. Your complaint will be categorized, and the date and contents will be logged on our complaints register, and will start the investigation immediately.
3. We may ask for additional information if needed.
4. We will endeavorto resolve this within 21 days of receiving your complaint, or after receiving any additional information we require. You will be kept informed of the progress of the complaint and causes of any delay together with a revised timeline.
5. If we require further time to investigate the complaint, this will be communicated to you in writing. In addition, at this time we will provide you with details of the internal complaints escalation and review process should the complainant not be satisfied with the outcome of the complaint.
6. We will let you have our response in writing with full reasons for the decision taken.
7. In the event of us not being able to resolve the complaint or if you are not satisfied with our response, the complaint may be pursued, within a six (6) month’s period, with the FAIS Ombud, or any other Ombud who has jurisdiction, contact details below. Alternatively, you may approach your own legal counsel.
8. This procedure will be reviewed on an annual basis to ensure that service delivery to the client is acceptable and in line with TCF principles.

Should your complaint be referred to the Ombud, the following must be kept in mind:

The FSP is required to be provided with a six-week period within which to resolve any complaint before the FAIS Ombud will have jurisdiction.

1. The FAIS Ombud will not adjudicate in matters where the claim is in excess of R800 000.
2. If you already instituted an action in a court of law in respect of this complaint the Ombud will not consider the complaint.
3. If the complaint was not resolved through conciliated settlement, the Ombud may make a determination that has the same legal status of a civil court judgment.
4. An award of costs may be made against the person complained against.
5. An award of costs may be made against a complainant if the conduct of the complainant was improper or unreasonable, or if the complainant caused an unreasonable delay in the finalization of the investigation

Should you wish to submit a formal complaint, please email us at support@orbvest.com with the subject line Complaints.

Tel: 012 762 5000 / 012 470 9080
E-mail: info@faisombud.co.za
www.faisombud.co.za

Tel: 021 657 5000 / 0860 103 236
Share call: 0860 103 236
E-mail: info@ombud.co.za
www.ombud.co.za

Tel: 011 726 8900
Share call: 0860 726 890
E-mail: info@osti.co.za
www.osti.co.za

END