SA Financial Intermediary Forum

A Forum available for Intermediaries to raise, debate and source answers to any questions
HomeHome  CalendarCalendar  FAQFAQ  RegisterRegister  Log inLog in  
Welcome to the Intermediary Forum...please feel free to view, post and reply on any of the discussion topics. Registered members of the forum can download attachments and will receive mail correspondence, where and when relevant, on the various discussion topics.

Share | 

 Fsb compliance reports - sabinet 23 may 2011

Go down 
Forum Admin

Posts : 94
Join date : 2011-03-30
Age : 48
Location : Johannesburg

PostSubject: Fsb compliance reports - sabinet 23 may 2011   Tue May 24, 2011 10:49 am

Home » Finances » Articles
FSB Publishes Latest Compliance Reports for Financial Sector
Financial Services Board

The financial services board (FSB) has published a raft of notices in the Government Gazette detailing various compliance reports for financial service providers (FSP).

The notices are published in terms of the Financial Advisory and Intermediary Services Act of 2002.

The act was designed to protect investors from unethical and ill-informed advisors and FSPs.

One of the notices deals with the compliance report for FSPs that were without a compliance officer but have now subsequently appointed such an officer.

The notice outlines how such FSPs must submit a compliance report.

The notice stresses that the determination was made after consultation with the advisory committee on financial services providers.

A written report covering the reporting period must be submitted. The report can either be completed using the attached schedule or the online version accessible on the FSB website.

The report must be submitted within one month of the compliance officer being appointed.

Another notice focuses on the compliance report for FSPs that change a compliance officer during the reporting period.

Again, a written report has to be submitted within one month of the appointment date of the new compliance officer.

The specific report required is contained in a schedule attached to the notice.

A third notice deals with a compliance report for foreign FSPs.

Foreign FSPs are defined as those not domiciled in South Africa.

A written report for the reporting period has to be submitted by 31 October 2011.

Other compliance reports published in the Gazette include:

• Compliance report for category IV FSPs
• Bi-annual compliance report for category III FSPs
• Compliance report for category II FSPs
• Interim compliance report for category IIA FSPs
• Compliance report for category II and IIA FSPs
• Compliance report for category I FSPs with a compliance officer
• Compliance report for category I FSPs, without a compliance officer
Back to top Go down
Fsb compliance reports - sabinet 23 may 2011
Back to top 
Page 1 of 1

Permissions in this forum:You cannot reply to topics in this forum
SA Financial Intermediary Forum :: FAIS Act :: Compliance Reporting-
Jump to: