FISA has its origins in the Association of Trust Companies, a prestigious body that was founded in 1932 to represent the interests of trust companies and their clients.
In June 2008, FISA was created and a constitution drawn up which extended potential membership to anyone active in the wider fiduciary industry. In 2012, the FISA Constitution was amended to cater for individual membership only, in line with FISA’s intention to create a fiduciary profession.
The FISA Code of Ethics is based on two broad principles, i.e. integrity and diligence, and include requirements such as honesty, fairness, objectivity, independence of thought and behaviour, dealing with conflicts of interest, knowledge, competence, confidentiality and personal financial stability. FISA members must comply with continuing professional development (CPD) requirements to keep their knowledge up to date.
FISA has a disciplinary committee which applies its Disciplinary Regulations, and penalties which could be imposed range from an admonishment to a life ban on membership.The rights and obligations of FISA members and the process to become a member or for membership to cease are regulated by the Membership Regulations.
The Professional Standards Regulations provide for a professional standards committee to ensure that FISA applies appropriate professional standards through the requirements of the FISA Constitution, Code of Ethics, and Regulations.
Each of FISA’s five regions, Central, Eastern Cape, Gauteng, KwaZulu-Natal, and Western Cape, is governed by a regional committee in accordance with the Regulations for Regional Committees.
FISA publishes documentation relevant to various court case hearings on the website. To go to Court Cases, click here.
FISA comments on the Draft Taxation Laws Amendment Bill, 2016 click here..
FISA publishes important information and documentation from various external sources such as The Chief Master, Financial Institutions, Master of the High Court and SARS on the website. To go to Useful Links, click here.
Guidelines for using the FPSA® mark
Read through the guidelines for using the FPSA® mark – click here.
Bank processes on deceased estates
Processes for each major bank when reporting a deceased estate for closure of accounts, bonds etc. All info was given through to FISA as is by representatives at the respective banks and thus serves as a guideline to all members when dealing with the respective banks on deceased matters click here.