Regulatory Alerts2018-03-26
CISCA Circular No 16: Verification Checks for Collective Investment Scheme Managers and Trustees
The South African Financial Services Board requires all applicants for director and board member verification checks to submit a police clearance certificate with their regulatory applications. This mandate addresses the South African Police Services suspension of standard criminal record enquiries, which now limits verification to fingerprint-based systems. Collective Investment Scheme Managers must bear the full cost of obtaining these certificates for their nominees.
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