Update your Competence Register
FSPs must ensure that their Competence Register is updated with CPD activities within 30 days after the expiry of each CPD cycle. Those FSPs that relied on the extended CPD deadline of 31 August 2020 must update their Competence Register by 30 September 2020.
FSPs that relied on the extended CPD deadline of 31 August 2020 must start collecting CPD hours for the next CPD cycle which will end on 31 May 2021. FSPs, KIs, and Reps are advised to put a CPD Plan together in order to manage and plan ahead 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 and addresses any identified needs or gaps, and that the required CPD hours are timeously obtained.
Keep a look out for your Levy invoice
The FSCA will prepare and send Levy Invoices to FSPs towards the end of September 2020. FSPs are reminded to check that the FSCA has their most up-to-date contact details to ensure that the Invoice reaches the FSP and can be paid before the deadline date of 31 October 2020. If an FSP does not receive their invoice ahead of the deadline date, 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.
Annual Financial Statements
FSPs with a financial year-end of 28 February who had to submit their AFS by 30 June 2020 but relied on the 4-month extension granted by the FSCA, must submit their AFS by 31 October 2020. FSPs that are required to submit Annexure A (FAIS Notice 82 of 2015) together with their Annual Financial Statements are reminded to do so. To read more on the FSCA extensions regarding AFS, click here.