Regulatory Alerts2018-03-31
Information Circular 2 of 2009: Penalty Waiver for Late 2006 Financial Statements of Pension Funds with R6m–R50m Assets
The Financial Services Board issued Information Circular 2 of 2009 to waive penalties for pension funds with assets between R6 million and R50 million that missed the 28 February 2009 deadline for submitting their 2006 financial statements. This penalty exemption applies to late filings during March and April 2009, as the Registrar and SAICA are still finalizing a revised prescribed audit report format for this fund category. Consequently, affected administrators and insurers are temporarily exempt from the penalties originally mandated in Information Circular No. 6 of 2008 until the updated reporting standards are published.
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