The FAIS Act prescribes that the financial statements of an authorised financial services provider (FSP) must be submitted to the Registrar no later than four months after the FSP’s financial year end.
This is a reminder to all FSPs whose financial year end was 31 December 2015, to ensure that their financial statements are submitted to the FSB by 30 April 2016.
FSPs whose financial year ends on 28 February must ensure that their annual financial statements are prepared and finalised accordingly in order to submit them to the FSB by the end of June 2016.
We also remind those FSPs who are eligible for the exemption from submitting audited financial statements to ensure that they adhere to the requirements of FAIS Notice 82 of 2015 and submit “Annexure A” together with their annual financial statements. Click here for FAIS Notice 82 of 2015
Failure by an FSP to submit annual financial statements by the applicable deadline can result in licence suspension and/or a fine.
FSPs are able to apply to the Registrar, at a fee, for an extension of time in which to submit their annual financial statements. All requests for extensions must be done 15 days prior to the submission date. An extension request will not be granted if any financial statements or compliance reports of the FSP are outstanding.