Update Rep Register
A reminder that levies due by FSPs will be calculated based on the information available to the FSCA as at 31 August 2019. It is, therefore, important for FSPs to ensure that their representative register is up to date and to check that all their information is correct. FSPs can notify the FSCA of any changes or make the relevant changes on their own using the FAIS ePortal before 31 August 2019.
New Replacement Advice Record
FSPs authorised for long-term insurance are reminded that the new Replacement Advice Record prescribed by the FSCA for individual life risk policies (excluding assistance policies, funeral policies or microinsurance policies) comes into effect on 1 September 2019. It is important that Advisors familiarise themselves with the new format as an inadequate Replacement Advice Record may have an impact on the payment of commission.
For more information on the new Replacement Advice Record, read the article Format for a replacement advice record (individual risk policies) and related documents.