FSPs are reminded to ensure that the Professional Indemnity (PI) Cover renewal process is commenced well before the renewal date to avoid a situation where their PI Cover has expired. Given concerns relating to increased cybersecurity and other risks during the lockdown period, FSPs should take this opportunity to review their business and risks to ensure that they have the right type of cover and a sufficient amount of cover in place.
CPD clock is ticking – 3 weeks left until the end of the CPD cycle
FSPs, KIs and Reps are reminded that the deadline to comply with the required number of CPD hours is 31 May 2021.
Start planning for the next CPD cycle
The next CPD cycle will start on 1 June 2021 until 31 May 2022. FSPs, KIs, and Reps are required to prepare a CPD training plan to ensure that the type and combination of CPD activities undertaken are relevant, contribute to the knowledge, skills and ethical standards of the FSP, its KIs and Reps. CPD training must be managed and planned to address any identified needs or gaps, and to ensure that the required CPD hours are obtained timeously.
POPI Compliance – 7 weeks left until deadline
All entities must be fully compliant with the provisions of the Protection of Personal Information Act by 1 July 2021.
Categorisation of Complaints
FSPs are reminded to ensure that the adoption of their Complaints Management Framework (CMF) includes the required categorisation of complaints for complaints reporting. The requirement to categorise complaints will take effect on 26 June 2021.