FSCA: Submission of compliance reports

04 October 2021
South African Accounting Academy

The Authority is in the process of developing a Conduct of Business Report (“CBR report”) that will apply to all regulated entities which will have to be submitted to the Authority on an annual basis. The CBR report, once finalised, will replace the compliance report contemplated in section 17(1)(c) of the FAIS Act.

As was the case in 2019 and 2020, the Authority has decided that no compliance reports need to be submitted to the Authority during 2021. The Authority has further decided that there will be no prescribed format for a handover report during 2021, as there are no compliance reports to report on.

FSPs or compliance officers that have not submitted the required compliance reports from date of approval up to 2018, are still required to submit such outstanding reports.

Click here to download the FSCA Communication 16 of 2021 (FAIS):

https://www.fsca.co.za//Regulatory%20Frameworks/Temp/FSCA%20Communication%2016%20of%202021%20(FAIS).pdf

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