Regulatory Alerts2020-04-15
FSCA Communication 18 of 2020 – FAIS Compliance and Handover Report Submission Requirements for 2020
The Financial Sector Conduct Authority has suspended the submission of all standard Compliance and Handover Reports for Financial Services Providers in 2020 while developing a replacement Conduct of Business Report. All FSP categories and Key Individuals are exempt from submitting these reports this year, though entities with outstanding pre-2019 submissions must still file them to avoid regulatory action. Resigning compliance officers are required to provide detailed resignation notifications and complete irregularity reports when material non-compliance is identified.
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