LEGISLATION

Health Care Intermediaries such as The People Company (Pty) Ltd is subject to two sets of legislation:

All key staff giving advice to existing and prospective Medical Scheme members are registered as Health Care Consultants in accordance with the Medical Schemes Act with the Council of Medical Schemes and are therefore qualified to give advice in terms of the Act.

Registration as a Health Financial Advisor under the Financial Sector Conduct Authority (FSCA) has been finalized and our number is FSP 34086. Several of our Client Relations Consultants have completed their National Certificate in Wealth Management, as required by the FSCA.

A number of our representatives and both Key Individuals have passed the RE exams. In addition an independent compliance officer, Simply Comply (Pty) Ltd, has been appointed. FFG as a group has an internal compliance officer based in the Potchefstroom office. Continuous monitoring, skills and systems development, examinations, up skilling of staff and various other programs have been implemented to ensure that we comply with the “fit and proper” requirements of the FAIS Act.

Staff is moved between the different functions to ensure that skills are acquired across the spectrum of the industry and staff is encouraged to further their careers in the health care field through a bursary scheme.

We view our role in the future of the South African healthcare dispensation as a Consultancy aimed at providing assistance to employers in the design, implementation, maintenance, and monitoring of medical benefits strategies for employees. The requirement of continuous training to emerging members of medical schemes in terms of the envisaged National Health Insurance initiative has prompted us to invest in staff capable of transferring information in all official languages at all levels within a client organisation.