CAT II and IIA FSPs are required to submit their Bi-Annual Compliance Reports to the FSCA two (2) months after the reporting date. The reporting dates for Category II and IIA FSPs are 30 June and 31 December of each year. The Compliance Reports must, therefore, be submitted to the FSCA by 28 February 2019.
In the case where an FSP is authorised for more than one license category, only one report needs to be submitted. The FSP must submit the report that applies to the highest category it is licensed for. For example, an FSP that is licensed for Category I and II, only needs to submit the Category II report.
Category II and IIA FSPs are also required to submit the total Assets Under Management (AUM) of the Category II or IIA license with the Compliance Reports as at the reporting date i.e. 30 June and 31 December of each year. The Compliance Officer will prepare the report and ensure that it is timeously submitted to the FSCA. However, there is still a duty on the FSP to ensure the reports are submitted.