Regulatory Alerts2018-03-31
Information Circular 7 of 2005
The Financial Services Board of South Africa issued this circular to establish a revised Service Level Commitment that defines the roles, responsibilities, and turnaround times between the Registrar’s Office and the retirement funds industry. It mandates that all fund registrations, rule amendments, and valuation reports be submitted within strict statutory deadlines, requires complete documentation and prescribed fees to avoid automatic cancellation, and encourages electronic submissions to expedite processing. The document further outlines compliance requirements for unregistered funds, standard rule approvals, surplus schemes, and the termination or transfer of fund administration, with penalties enforced for late submissions or procedural failures.