Applicable to the TiAuto Investments (Pty) Ltd – FSP 46180

1. Statutory definitions of COI

“Conflict of interest” means any situation in which a provider or a representative has an actual or potential interest that may, in rendering the financial service to a client,

-(a) Influence the objective performance of his, her or its obligations to that client; or

(b) Prevent a provider or representative from rendering an unbiased and fair financial service to that client, or from acting in the best interests of that client,

Including, but not limited to –

(i) A financial interest;

(ii) An ownership interest;

(iii) Any relationship with a third party;

“financial interest” means any cash, cash equivalent, voucher, gift, advantage, benefit, discount, domestic or foreign travel, hospitality, accommodation, sponsorship, other incentive or valuable consideration, other than –

(a) an ownership interest;

(b) training, that is not exclusively available to a selected group of providers or representatives, on

(i) products and legal matters relating to those products;

(ii) general financial and industry information;

(iii) specialised technological systems of a third party necessary for the rendering of a financial service; but excluding travel and accommodation associated with that training;

“immaterial financial interest” means any financial interest with a determinable monetary value, the aggregate of which does not exceed R1 000 in any calendar year from the same third party;

“third party” means a product supplier, another provider, an associate of a product supplier or a provider, a distribution channel and any other person who in terms of an agreement provides a financial interest to a provider or its representatives.

2. Policy statement

TiAuto Investments (Pty) Ltd is committed to complying with the regulatory requirements governing Conflict of Interest under the FAIS General Code of Conduct and ensuring that conflicts of interest are appropriately managed in the best interests of our partners, customers and policyholders.

3. The management of COI

3.1 Mechanisms for the identification of COI

Before we conclude new business arrangements we shall consider whether the proposed arrangement will present any potential conflict of interest. It will be the responsibility of the Business Unit Head entering into the relationship of behalf of TiAuto Investments (Pty) Ltd to ensure that this identification process is carried out and appropriately documented before the relationship is progressed.

Business Unit Heads will be accountable to ensure that the necessary reviews of all existing business arrangements are conducted at least annually to assess the ongoing conflict of interest in the light of changing circumstances, operational processes and procedures that may have been implemented since the commencement of the business.

3.2 Measure for the avoidance and mitigation of identified COI

Whenever any potential conflict of interest is identified, the Business Unit responsible for the relationship will consider whether any practical means exist for avoiding such conflict of interest. Where this is not practical, the Business Unit Head will consult with the Compliance team to devise appropriate and adequate measures to mitigate and manage the identified conflict of interest.The resulting mitigating and managing measures will be documented and communicated to all staff involved in managing the relationship to ensure that the risk of the identified conflict of interest is appropriately managed by the affected business unit.

3.3 Measures for the disclosure of COI

Wherever potential conflict of interest is identified, the Business Unit Head will ensure that appropriate communication regarding the following aspects is included in the disclosure information and documentation provided to potential customers purchasing products:The existence of the conflict of interest; A description of what the conflict is; Its impact; The measures taken to mitigate and manage it; andThe customer’s free choice whether he wishes to continue with purchasing the product.

3.4 Processes, procedures and internal controls to facilitate compliance

Business Unit Heads will be required to ensure that the policy is implemented in their business units and will on an annual basis warrant to the Audit and Risk Committee in writing that they have met their obligations under this policy and describe the steps taken to do so. The Compliance team will monitor compliance with this Conflict of Interest Management policy and will perform the necessary review sin consultation with Executive Management to ensure that appropriate procedures and processes are in place and effective to comply with the policy.The Audit and Risk Committee will facilitate a review of this policy annually to ensure that it remains relevant and appropriate to meet the statutory requirements.

4. Financial interests offered to TiAuto Investments representatives

TiAuto Investments may offer its representatives sales incentives, in addition to their basic salary, based upon the quantity of business introduced.No sales incentives may be offered to representatives for preferring one product over another that may be offered to a customer.

TiAuto Investment’s representatives are not authorised to sell, and may not accept remuneration for selling, the products of other product suppliers, except to the extent that TiAuto Investments has entered into agreements with such product suppliers to sell the products of the product suppliers.

5. List of TiAuto Investments (Pty) Ltd Trading Divisions


Tiger Wheel & Tyre

Tyres & More

Treads for Africa


Treads Unlimited


6. Consequences of non-compliance with this policy

Failure to comply with the provisions of this policy by any staff member or FAIS representative shall constitute serious misconduct and will result in disciplinary action being initiated against such staff member.

TiAuto Investments (Pty) Ltd PAIA Manual – Promotion of Access to Information Act
Download document here

Errors and omissions excepted.