Deadline for payment of Levies
FSPs are reminded that the FAIS Levy Invoices should have been received with payment due by 31 October 2019. If an FSP has not received their invoice, we suggest that they contact the FSCA to request that this be re-sent to them. Failure to pay levies timeously can result in licence suspension.
Update your Competence Register
FSPs are reminded that they must be able to provide their Competence Registers to the FSCA if asked to do so. The Competence Register must keep a record of all qualifications, regulatory exams, class of business training, product specific training and CPD.
The Competence Register must be updated with all class of business and product specific training completed by the FSP, its Key Individuals and Representatives within 15 days after the training occurred and all information and documentation relating to the training must be retained for at least 5 years.