The Financial Sector Conduct Authority (FSCA) released communication 18 of 2020 (FAIS) (“communication”) reconfirming that FSPs do not need to submit Compliance Reports or Handover Reports.
Compliance Reports for 2019 or 2020 were not published as the FSCA is developing a Conduct of Business Report (CBR) that will apply to all regulated entities and replace the Compliance Reports.
The Communication also requires that all FSPs that have not submitted the required Compliance Reports from date of
approval up to 2018, to submit the outstanding reports. Failure to submit the reports can lead to regulatory action being instituted against the non-compliant FSPs.
If your FSP has any Compliance Reports still outstanding, contact us to help you complete and submit to the FSCA.
Director: Fathima Khan-Ahmod
Ahmod Consulting (Pty) Ltd
Ahmod Consulting 