The Conduct of Business Division at the FSCA recently sent out a notification regarding a general request for information (RFI). The notification explains that the purpose of the RFI is to confirm that the FSPs’ business information as per FSCA’s records is accurate and to identify where there are discrepancies. If, as a result of the submission of this RFI, any discrepancies are found between the information held by the FSCA, and that reported by the FSP, the FSP will be required to submit a profile change request to update the records held by the FSCA. This information will assist the effectiveness of the supervisory duties of the relevant departments of the FSCA.
This request for information is intended to be a once-off substitute in place of the annual / bi-annual compliance reports and all FSPs will be required to complete and submit this information request, including those FSPs that were previously exempted from submitting annual compliance reports.
The FSCA has advised that further information regarding the request and submission dates will be communicated in due course.
Your Masthead Compliance Officer will also keep you updated of any further developments in this regard.