On 29 March 2018, the Registrar of Financial Services Providers published the Exemption of Underwriting Managers from the Regulatory Examination Requirements, 2018 (“the Exemption”) on the official website of the Financial Services Board, now known as the Financial Sector Conduct Authority.
The Determination of Fit and Proper Requirements for Financial Services Providers, 2017, which came into effect on 1 April 2018, repeals the Exemption of Certain Persons from the Level 1 Regulatory Examination Requirements, published by Board Notice 102 of 2012 in Government Gazette No. 35422 on 6 June 2012, as amended (“Board Notice 102”).
The purpose of the Exemption is to extend the exemption that was granted under Board Notice 102, insofar as it relates to underwriting managers.
The Exemption can be accessed by clicking here.