All South African Foreign Exchange Intermediaries are Invited to Join
SAATA - The South African Association of Treasury Advisors
ABOUT THE
ASSOCIATION
Founded in 2019 in response to mounting pressure on individual Foreign Exchange Financial Services Providers, the Association was constituted to act as a representative body in discussion and legislative matters on behalf of the industry as a whole. Membership is voluntary.
In response to a growing industry and the need for operators to comply with relevant legislation and regulations, the SAATA industry body has been formed to act on behalf of foreign exchange intermediary financial services providers in South Africa.
The goal of the Association (SAATA) is to enable and facilitate open and constructive discussion and representation between our members and Stakeholders including government departments, committees and regulators.
We are pleased that we have achieved a membership of well over 80% of the industry! Thank you for your confidence.
PRO-ACTIVE
We are pro-active in engaging and contributing to discussion around all matters which could impact our industry.
We are pro-active in engaging and contributing to discussion around all matters which could impact our industry.
RESPECTED
Our founding members have a long track-record of positive and solution-focussed negotiations and contributions to legislative and regulatory frameworks in our industry.
Our founding members have a long track-record of positive and solution-focussed negotiations and contributions to legislative and regulatory frameworks in our industry.
EFFECTIVE
A key reason for establishing a registered body is to enable our appointed members to act together on behalf of the industry. This includes raising funds for legislative efforts, pooling resources (intellectual and administrative) and delivering an effective mandate to act.
A key reason for establishing a registered body is to enable our appointed members to act together on behalf of the industry. This includes raising funds for legislative efforts, pooling resources (intellectual and administrative) and delivering an effective mandate to act.
SAATA
OBJECTIVES
GAIN
To gain the Regulators’ buy-in that SAATA is a representative and trusted communication channel with industry participants.
UNDERSTAND
To understand the Regulators concerns around our industry so that we can create informed and realistic proposals on how to deal with them.
EDUCATE
To educate the Regulators about what we do, who our clients are, and how we are already regulated by various bodies.
PROPOSE
To propose who should be our primary Regulator and provide recommendations on how they should monitor and regulate us.
establish
To establish a more formal and specific licensing system to draft relevant compliance requirements for our industry.
ADVANTAGES OF
BEING A MEMBER
- Members can display the SAATA logo on their website, business cards etc. which gives all stakeholders (clients, Banks, Regulators) comfort around your commitment to a common set of key principles.
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Members will be listed on the SAATA Website (as requested by SAFXC) which conveys to stakeholders that:
Your business has committed, in writing, to the FX Global Code (which is a key objective of the SARB and SAFXC).
• Your business has committed to the SAATA Code of Conduct (coming soon) which is centred around the principles of Treating
• Customers Fairly - this is a key requirement of FSCA which allows us to have our own License Category. - Members will have the opportunity to contribute towards how they are regulated via a recognized formal communication channel with the Regulators.
- Members will be kept up to date with Regulatory developments in our industry.
- Members will be invited to regular workshops to raise and debate industry matters.
- Members will be invited to regular workshops to raise and debate industry matters.
- Should banks decide in the future that they will only enter into intermediary agreements with SAATA Members, existing members will be well positioned.
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Join
Today
Please complete the below form to express interest in joining the Association. We are still in the founding stages and as such, you will be kept up to date with our progress.
Please indicate if you can be of assistance as we continue the work in defending your rights and constructively contribute to a better operating environment for our clients and members.
