JPI Investments Limited, regulated by the Financial Conduct Authority (FCA) of the United Kingdom, operates in full compliance with international financial standards, including the Financial Action Task Force (FATF) Recommendations and the International Organization of Securities Commissions (IOSCO) Principles. In South Africa, the provision of financial services is regulated by the Financial Advisory and Intermediary Services Act 2002 (FAIS Act) and the Financial Sector Regulation Act 2017, which govern the activities of financial service providers within the country.
Foreign firms, such as JPI Investments, may offer financial services to South African clients under specific conditions, such as the foreign provider exemption. This exemption allows firms that are duly regulated in a foreign jurisdiction, like the UK, to provide services to South African clients without needing to obtain a local Financial Services Provider (FSP) license, provided they comply with South Africa’s anti-money laundering (AML) and know-your-customer (KYC) regulations. JPI Investments operates in strict adherence to global financial best practices and ensures compliance with these South African requirements when engaging with clients.
However, it is important to note that South African regulators, including the Financial Sector Conduct Authority (FSCA), retain the authority to intervene and take enforcement actions if any activities of foreign firms are found to be in violation of South African laws or regulations. Under the FAIS Act and the Financial Sector Regulation Act, the FSCA has the power to investigate complaints, impose sanctions, and pursue legal proceedings against foreign entities offering financial services in South Africa. Therefore, while JPI Investments operates under the exemption, we remain subject to South African regulatory oversight and may be held accountable for any breaches of local laws.