Compliance

Legal and Compliance

  1. License and Registrations

APZOR holds the following licenses and registrations:

 

APZOR (Pty) Ltd (Registration No. 2019/577802/07) is a licensed Financial Services Provider, FSP number 53906 (application pending), with the FSCA and is also registered with the Financial Intelligence Centre, under unique registration number 64712 as an accountable institution.

 

 

  1. FAIS Disclosure Notice

NOTICE OF DISCLOSURE IN TERMS OF THE FINANCIAL ADVISORY AND INTERMEDIARY SERVICES ACT NO. 37 OF 2002

1.         Introduction

In terms of the General Code of Conduct of the Financial Advisory and Intermediary Services Act (the “FAIS Act”), we are required to disclose the information in this notice. 

If there is anything in this notice that you do not understand, please contact us to request further information.

 

2.         Financial Services Provider

APZOR (Pty) Ltd (Registration No. 2019/577802/07) (“APZOR”) is an authorised Financial Services Provider in terms of Section 8 of the FAIS Act, licence number 53906. A copy of the licence is available upon request.

In respect of financial products and services, APZOR is authorised to render intermediary services (Category 1) in respect of crypto assets.

 

3.         APZOR Contact Details

Email: info@apzor.com

Website: www.apzor.com

 

4.         Key Individuals and Representatives

APZOR’s appointed Key Individuals and Representatives are listed on the Financial Sector Conduct Authority (the “FSCA”) website (available at www.fsca.co.za).

APZOR has the necessary controls and procedures in place to ensure that its Key Individuals and Representatives comply with the prescribed Fit and Proper Requirements as contained in the FAIS Act (including experience, qualifications, regulatory examinations and the honesty and integrity requirements). 

APZOR takes full responsibility for the financial services rendered by its Key Individuals and Representatives.

It is hereby confirmed that APZOR’s Key individuals and Representatives comply with the Fit and Proper requirements set out above.

 

 

5.         Financial Intelligence Centre Act (FIC Act)

APZOR is registered as an accountable institution in compliance with the requirements of the FIC Act. 

APZOR is required to identify all prospective customers, verify the information provided and keep records of verification documents. 

APZOR is also obliged to report to the authorities any suspicious and unusual transactions that might facilitate money laundering.

6.         Compliance with FAIS

APZOR’s ongoing compliance with the FAIS Act is monitored by Masthead. 

The registered compliance officer is Kimera Singh, who is contactable at: ksingh@masthead.co.za 

7.         Conflicts of Interest

APZOR has adopted and implemented a Conflict of Interest Management Policy in compliance with the provisions of the FAIS Act. 

A copy of this policy is available on request.

In compliance with the principles of Treating Customers Fairly and the General Code of Conduct for Authorised Financial Services Providers, all employees must act in the best interests of our customers in rendering intermediary services at all times.

 

8.         Complaints

If you wish to lodge a complaint against APZOR, please refer to our Complaints Policy on our website (www.apzex.com) to find out more about our complaints process and how to lodge a complaint.

 If you are not satisfied with the proposed resolution or we have not arrived at a solution within six (6) weeks after receipt of the complaint, you may then approach the Office of the Ombud for Financial Services Providers. 

 

The name, address and other contact details of the Ombud are as follows:

 

Office of the Ombud for Financial Services Providers

Address: Central, 125 Dallas Avenue Menlyn, Waterkloof Glen, Pretoria, 0010

Phone: 012 762 5000

Email: info@faisombud.co.za

Website: www.faisombud.co.za

 

Please note that your complaint must be lodged with the Ombud within a 6-month period and only after confirmation by APZOR that it is unable to resolve your complaint.

 

  

9.         Protection of Personal Information

In accordance with the Protection of Personal Information Act, 2013 ("POPIA"), APZOR is committed to ensuring the confidentiality of our customers’ personal information. 

Such information will be maintained in confidence and will not be shared with third parties without our customers’ explicit consent or unless required by law for public interest reasons or other legal obligations.

 

Please ensure that the personal information we hold is accurate, current and complete and that APZOR is informed of any changes.

 

APZOR has a comprehensive Data Protection Policy detailing the management of client personal information. 

A copy of this policy is available on request.

 

10.      Disclaimer

Customers should be aware of the risks involved in trading and investing in any financial products and services. 

Investing in crypto assets may result in the loss of capital.

Past performance is not indicative of future performance. 

Crypto markets can be volatile and prices can fluctuate significantly, which could result in sudden and significant increases or decreases in the value of your crypto assets. 

This market volatility and other risks involved in buying, selling or trading crypto assets are explained on the Risk Warning page of the APZOR website (available at:www.apzex.com)

This information is not intended to be nor does it constitute financial, tax, legal, investment or other advice; nor a solicitation to trade. Before making any decision or taking any action regarding your finances, you should consult a qualified Financial Advisor.

 

APZOR  does not hold shareholding in any product supplier.

 

  1. KYC / AML

Anti-money laundering (AML) and know-your-customer (KYC) requirements 

Money laundering is the process whereby the financial proceeds of a crime are disguised to give the impression of legitimate income. Often criminals target financial service providers through which they attempt to launder criminal proceeds without raising suspicion. In many cases, laundered funds are used to fund further crime or to finance terrorism, or both.

As a means to combat money laundering and to counter terrorist financing (CTF), most countries have implemented AML and CTF legislation which imposes obligations on financial service providers. These laws, together with guidance from regulators, applicable task forces and industry best practice, are the basis on which we formulate our approach and adherence to AML and CTF policies and regulations. APZOR has implemented systems and controls that that seek to emulate and surpass the standards applicable to regulated entities. This is in line with our commitment to prevent money laundering and terrorist financing.

Key components of our AML and CTF framework include the following:

  • The appointment of a Money Laundering Reporting Officer (MLRO). This is an individual with a sufficient level of seniority and independence who is tasked with the responsibility of overseeing compliance with the relevant legislation, regulations, rules and industry guidance;
  • Establishing and maintaining a risk-based approach to the assessment and management of money laundering and terrorist financing risks;
  • Establishing and maintaining a risk-based approach to Customer Due Diligence (CDD), including customer identification, verification and KYC procedures. To ensure we meet these standards, our customers are required to provide certain personal details and documents when opening a trading account. The nature and extent of what is required is guided by the customer’s deposit and withdrawal limits. In certain instances, we may perform enhanced due diligence procedures for customers presenting a higher risk, such as those transacting large volumes and Politically Exposed Persons (PEPs);
  • Establishing and maintaining risk-based systems and procedures for the monitoring of ongoing customer activity;
  • Establishing procedures for reporting suspicious activity internally and to the relevant law enforcement authorities as appropriate;
  • Maintaining appropriate KYC records for the minimum prescribed periods;
  • Providing training on the framework and raising awareness among all relevant employees;
  • Designing systems and controls to allow us to comply with all required sanction screening processes imposed by, for example, the United Nations, European Union, UK Treasury and US Office of Foreign Assets Control (OFAC) and to take measures to prevent transacting with individuals, companies and countries appearing on these sanctions lists.

4 Complaints Policy

1. The purpose of this policy

At APZOR we are committed to providing you with excellent service and treating all our customers fairly.

We appreciate your feedback, good and bad.  Therefore, we have implemented a complaints framework for you to let us know if you are in any way unhappy with our service or products.

We take all complaints seriously and strive to resolve them as quickly as possible. This Complaints Policy sets out what you should do if you have a complaint and what you can expect from us.

2. Glossary of terms used:

Complainant:The person making the complaint;
Complaints Officer:The person who is appointed or assigned to your complaint in terms of section 8;
Complaints Manager:The person who oversees the complaints process at APZOR and may be requested to review your complaint in terms of section 8;
Complaints Committee:The committee of senior management convened by the Complaints Manager, as and when required to resolve a complaint in terms of section 8;
Complaints Policy:This Complaints Policy which has made available to customers, as amended from time to time; and
Resolution Notice:The written confirmation of the outcome of your complaint provided to you as contemplated in section 8;

3. When to complain

You can formally complain under this Complaints Policy if you believe that we have contravened an agreement or law, have caused you harm, prejudice or substantial inconvenience, have treated you unfairly, or if you would otherwise like to express your dissatisfaction about our products or services.

4. Phishing and fraud incidents

We empathise with those who have fallen victim to phishing attacks and other fraudulent activities. Phishing attacks are a growing concern amongst all financial services and across the internet. Since day one, we have been committed to keeping our customers and our platform safe from harm and take active steps to help protect our customers. We also strongly encourage you to find out what measures you can take to protect your account.

If you have been a victim of fraud, please report the matter by emailing support as soon as possible. We will do everything we can to assist you.

It is, however, your responsibility as a customer to safeguard your funds and not to click on any unsafe links or give out your personal information to anyone else. APZOR cannot be held responsible for a loss of funds where you have fallen victim to one of these attacks.

If, in connection with a fraud incident, you believe that we have contravened an agreement or law, that we have been the cause of your loss, have caused you harm, or your grievance otherwise meets the guidelines set out in section 3 above, you may lodge a complaint in accordance with this Complaints Policy.

5. What to include in a complaint

If you would like to submit a complaint, please include:

  1. Your full names and, if applicable, your APZOR account information
  2. An email address from which to receive communication about your complaint
  3. A full description of your complaint. Please be as specific as possible. Your description must demonstrate how APZOR has:
    1. contravened an agreement or law, or
    2. caused you harm, prejudice or substantial inconvenience, or
    3. treated you unfairly, or
    4. dissatisfied you
  4. Sufficient evidence, documents, correspondence, attachments or other information to allow APZOR to respond to and/or investigate your complaint

If your complaint is missing material information, or your account of what happened is too vague for us to assist, APZOR will not be able to resolve your complaint and thus your complaint may be dismissed. You agree to cooperate with the relevant APZOR Agent, Complaints Officer or Manager to establish a full account of the complaint.

6. Lodging complaints

Please lodge your complaint by emailing our complaints manager kevin@apzor.com

7. Who may complain?

Anyone can submit a complaint to us provided that you have a direct interest in the subject matter of the complaint. This means that you could be:

  • A current customer
  • A former customer
  • The successor in title of customer / former customer
  • A potential customer
  • A person (validly) acting on behalf of one of the above individuals (for example, as a trustee, curator, executor or similar legally-appointed official)

8. How the Complaint will be handled 

Once we have received your complaint containing all of the necessary detail, you can expect the complaint to be handled as follows:

  1. A Complaints Officer will be assigned to your complaint and will acknowledge receipt of your complaint within 24 hours, by email to the email address provided in your complaint.
  2. If the Complaints Officer is able to resolve your complaint immediately, you will receive a Resolution Notice with feedback at the same time as the acknowledgement.
  3. If the complaint is of a more complex nature and cannot be resolved immediately, the Complaints Officer will investigate the matter further. As part of the investigation, the Complaints Officer is entitled to request further information from you or require you to make written representations. The Complaints Officer will do his/her best to resolve the complaint and provide you with a Resolution Notice within 30 Business Days. If the complaint involves multiple issues and reasonably cannot be resolved within 30 Business Days, we will resolve it as soon as reasonably possible and will keep you updated on a regular basis.
  4. A Resolution Notice will set out, when applicable:
    1. Where your complaint was accepted and how your complaint was resolved
    2. Where your complaint was rejected and the reasons for this decision
    3. Where you have requested specific action or redress, whether the action or redress is possible and/or available
    4. Possible further steps which may be available to you

Complaints Officers are committed to demonstrating objectivity and decisions will be made on fact. Should you feel that the decision made was unfair or incorrect, you may request that the matter be reviewed. This process will involve the following:

  1. You may request that the matter be reviewed by sending a written request to this effect within 7 days of receiving the Resolution Notice. You must include written reasons for taking the matter on review.
  2. The review will be referred to the Complaints Manager for consideration. The Complaints Manager will acknowledge your request to review the matter within 3 Business Days, by email to the email address provided in your complaint.
  3. Subject to point 4 directly below, the Complaints Manager will investigate and decide on the matter within 15 Business Days. During this time, the Complaints Manager is entitled to request further information from you or require you to make written representations.
  4. Depending on the complexity of your complaint, the Complaints Manager may, in his/her discretion convene a Complaints Committee comprised of senior management at APZOR to investigate and examine your complaint, in which event you will be notified. The Complaints Committee will be required to reach a decision within no more than 20 Business Days. The Complaints Committee is entitled to request further information from you or require you to make written representations.
  5. The Complaints Manager will provide you with a written decision of the outcome of your review and any further steps which are available to you.

If your complaint has not been resolved by the Complaints Manager to your satisfaction, you may be entitled to take external adjudicative action depending on the nature of your complaint.

 

9. External adjudication

Depending on the nature / severity of the complaint, you may approach the Ombud, within 6 months of us notifying you of our decision, to review a decision made by APZOR regarding the outcome of your complaint. Before approaching the Ombud, please allow us to investigate and reply to your complaint first by following process outlined in this Complaints Policy.

 

5 Risk Warning

The risks associated with cryptocurrencies

Cryptocurrencies are new technologies that often work differently from your prior experience and traditional investments. They entail various risks that you should understand. Before using APZOR’s trading platform, we encourage you to educate yourself about the risks associated with cryptocurrencies and not to invest money that you cannot afford to lose. We have highlighted some of the key risks below:

  1. Cryptocurrency transactions are generally irreversible. This means that you may not be able to recover the cryptocurrency where: (i) you send cryptocurrency to an incorrect address, (ii) you send the incorrect amount of cryptocurrency, (iii) you send cryptocurrency to a fraudulent scheme or (iv) cryptocurrency transactions are made fraudulently from your account. APZOR will not be liable to you for any losses resulting from these kinds of accidental or fraudulent transactions.
  2. The volatility and unpredictability of the price of cryptocurrency relative to local currency may result in significant loss over a short period of time. Buying and selling cryptocurrency could result in a complete loss of your funds.
  3. Cryptocurrencies supported by exchanges on the platform are not backed by any entity. This means that you have no right of recourse against an issuing entity. It also means that neither APZOR nor anyone else has an obligation to buy back your cryptocurrency in the future.
  4. Supported Cryptocurrencies are not considered legal tender and are not backed by any government. Accounts and value balances are not subject to any government-backed deposit insurance or any other government protections.                                                                                                                                                                                                           
  5. Legislative and regulatory changes or actions at state or international level may affect the use, transfer, exchange, and value of cryptocurrency.
  6. Cryptocurrency transactions are deemed to be made when recorded on a “blockchain” ledger, which is not necessarily the date or time that you initiate the transaction.
  7. The value of each cryptocurrency is driven by the continued willingness of market participants to exchange that cryptocurrency for local currency. Should this demand disappear, it could result in permanent and total loss of the value of the cryptocurrency.
  8. There is no assurance that a person or business who currently accepts cryptocurrency as payment will continue to do so in the future.
  9. Buying and selling cryptocurrency may result in tax liability and you are solely responsible for complying with your tax obligations.
  10. The nature of cryptocurrency may lead to an increased risk of fraud or cyber-attack. You are responsible for keeping your account and wallet secure from these types of attacks.
  11. The nature of cryptocurrency means that any technological difficulties experienced by a service provider may prevent access to or use of your cryptocurrency.

 

    6 Fees

We charge a percentage-based fee that is based on the transaction value.  Our fee structure is easy to understand and without any hidden costs to the customer.