Regulatory Alerts2019-03-20
Information Circular No 2 of 2019: Applications for Exemption from or Extension to Comply with Default Regulations
The Financial Sector Conduct Authority mandates that all retirement funds submit pending applications for exemptions from or extensions to comply with the default regulations by 16h30 on Monday, 25 March 2019. This deadline addresses a substantial processing backlog caused by continued late submissions despite the original 18-month compliance window. The Authority explicitly warns that appropriate penalties will be considered for any applications received after the specified cutoff date.
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