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What is a Foreign Prominent Public Official or a Domestic Prominent Influential Persons?

While registering you may notice a field that asks you to identify if you are a Foreign Prominent Public Official or a Domestic Prominent Influential Persons. If you’re not entirely sure what these terms mean, we’ve unpacked the definitions for you below. 

 We need this information from you to help us assess your annual Source of Funds Value.

 The below definitions are as per the Financial Intelligence Centre Act of 2001. If you fall into any of the three below categories, please select “Yes” in the box at the bottom of the Personal Details page of your registration.  

Foreign Prominent Public Official
 A foreign prominent public official incudes persons who hold or have held, at any time in the preceding 12 months, in any foreign country, a prominent public function which includes:

  • Head of State or head of a country or government.
  • Member of a foreign royal family.
  • Government minister or equivalent senior politician or leader of a political party.
  • Senior judicial official.
  • Senior executive of a state-owned corporation; or
  • High-ranking member of the military.

Domestic Prominent Influential Persons
 A domestic prominent influential person is an individual who holds, including in an acting position, for a period exceeding six months, or has held at any time in the preceding 12 months, a list of positions includes:

  • A prominent public function, this includes the function of President, Minister, Premier and others.
  • A top position in a company dealing with an organ of state where a company provides goods and/or services to an organ of state with a transactional value more than an amount determined by notice in the Government Gazette.
  • Heads of international organisations.
  • A person who holds the position of head, or another executive directly accountable to that head, of an international organisation based in South Africa.

Family members and known close associates
Close associates are individuals who are closely connected to a prominent person, either socially or professionally. Immediate family members for these purposes include the following:

  • The spouse, civil partner, or life partner.
  • The previous spouse, civil partner, or life partner, if applicable.
  • The children and stepchildren and their spouse, civil partner, or life partner.
  • The parents; and
  • The siblings and stepsiblings and their spouse, civil partner, or life partner.

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Satrix Managers (RF) (Pty) Ltd (Satrix) a registered and approved Manager in Collective Investment Schemes in Securities and an authorised financial services provider in terms of the FAIS. Collective investment schemes are generally medium- to long-term investments. Unit Trusts and ETFs the investor essentially owns a “proportionate share” (in proportion to the participatory interest held in the fund) of the underlying investments held by the fund. With Unit Trusts, the investor holds participatory units issued by the fund while in the case of an ETF, the participatory interest, while issued by the fund, comprises a listed security traded on the stock exchange.

ETFs are index tracking funds, registered as a Collective Investment and can be traded by any stockbroker on the stock exchange or via Investment Plans and online trading platforms. ETFs may incur additional costs due to it being listed on the JSE. Past performance is not necessarily a guide to future performance and the value of investments / units may go up or down. A schedule of fees and charges, and maximum commissions are available on the Minimum Disclosure Document or upon request from the Manager. Collective investments are traded at ruling prices and can engage in borrowing and scrip lending. Should the respective portfolio engage in scrip lending, the utility percentage and related counterparties can be viewed on the ETF Minimum Disclosure Document. The Manager does not provide any guarantee either with respect to the capital or the return of a portfolio. The index, the applicable tracking error and the portfolio performance relative to the index can be viewed on the ETF Minimum Disclosure Document and or on the Satrix website.

Performance is based on NAV to NAV calculations of the portfolio. Individual performance may differ to that of the portfolio as a result of initial fees, actual investment date, dividend withholding tax and income reinvestment date. The reinvestment of income is calculated based on actual distributed amount and factors such as payment date and reinvestment date must be considered.

*Note exchange prices are delayed in accordance with regional exchange rules.South African prices are delayed by 15 minutes; North American prices are delayed by 15 minutes.