CONFLICT OF INTEREST DISCLOSURE

In terms of the Financial Advisory and Intermediary Services Act (FAIS)

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1. Introduction
   This Conflict of Interest Disclosure is provided to all clients in compliance with the Financial Advisory and Intermediary Services Act (FAIS) and the General Code of Conduct for Authorised Financial Services Providers and Representatives.
   MONO.insure Brokers (Pty) Ltd (Mono) is committed to conducting business in an honest, fair and transparent manner. We recognise our legal and ethical responsibility to avoid, mitigate, and disclose any actual or potential conflicts of interest when providing financial services.
    

2. Our Commitment
   - We act in the best interest of our clients at all times;
   - We avoid situations where our own interests may conflict with those of our clients;
   - Where such situations are unavoidable, we make full disclosure in writing;
   - We maintain a formal Conflict of Interest Management Policy which governs employee conduct and disclosure obligations.
    

3. Types of Conflicts We Monitor
   We monitor for potential or actual conflicts of interest, including:
   - Ownership or financial interests in product suppliers;
   - Non-cash incentives (e.g., gifts, entertainment, travel) offered by product suppliers;
   - Referral fees or commissions received for introducing business to third parties;
   - Relationships with associates that could unduly influence the advice rendered.
    

4. Financial Interests Received
   Mono may receive commission and/or broker fees for services rendered, including:
   - Regulated commission from insurers based on product premiums;
   - Broker fees agreed with the client in writing;
   - Limited immaterial financial interests such as promotional items valued under R1 000 per year from any product supplier.
   - All financial interests are tracked, approved internally, and fully disclosed to clients as per FAIS requirements.
    

5. Conflicts Involving Representatives
   Our representatives are required to:
   - Declare any personal interest in a transaction or business relationship;
   - Avoid situations where such interest may compromise their objectivity;
   - Abide by internal policies and complete annual declarations confirming compliance.

 

(Published 1 June 2025)

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