FSCA Communication 13 of 2024: Submission of Annual Financial Statements and Statutory Returns by FSPs

FSCA COMMUNICATION 13 OF 2024 (FAIS) Submission of annual financial statements and other statutory returns by Financial Services Providers

1. PURPOSE The purpose of this communication is to update authorised Financial Services Providers (FSPs) on the manner and process for future submissions of annual financial statements and other statutory returns as required in terms of section 19 of the Financial Advisory and Intermediary Services Act, No. 37 of 2002 (FAIS Act) and other applicable subordinate legislation.
2. BACKROUND 2.1 Authorised FSPs are required, in terms of section 19(2)(b)(iii) of the FAIS Act, to submit annual financial statements to the Financial Sector Conduct Authority (FSCA) within four months after the end of the FSP’s financial year or such longer period as may be allowed by the FSCA. 2.2 Furthermore, authorised FSPs are required, in terms of section 19(3) of the FAIS Act, to submit together with their annual financial statements a report by an Auditor in respect of money and assets held on behalf of clients (section 19(3) audit report). 2.3 The FSCA has in the past allowed authorised FSPs to submit annual financial statements and other statutory returns through the following means: (a) Electronic upload via the FAIS e-Portal on the FSCA website; (b) manual submissions via hand delivery, courier or postal services; and (c) e-mail submissions. 2.4 To ensure improved efficiencies, enhanced response times and better tracking and monitoring of submissions, the FSCA will in future only accept electronically uploaded submissions of annual financial statements and other statutory returns by authorised FSPs. This will also assist in eliminating the risk of delayed, overlooked or lost documentation currently encountered with manual and email submissions.
3. ELECTRONIC PROCESS FOR FUTURE SUBMISSIONS OF ANNUAL FINANCIAL STATEMENTS AND OTHER STATUTORY RETURNS 3.1 All authorised FSPs must submit their annual financial statements, section 19(3) audit reports, liquidity reports and other relevant declarations via the FAIS e-Portal on the FSCA’s website.

Page 2 of 12 3.2 FSPs must ensure that the information captured on the FAIS e-Portal is accurate and complete. 3.3 FSPs must ensure that they have access to the FAIS e-Portal by ensuring that their approved Key Individuals and linked Compliance Officers register on the e-Portal (see steps for registration in the user guide attached to this Communication as an Annexure). 3.4 Annual financial statements and other reports will be considered as outstanding until they are correctly captured and submitted on the FAIS e-Portal. 3.5 The above manner of submission also applies to extension requests. 4. EFFECTIVE DATE The process outlined in this Communication is effective from 1 April 2024 and replaces any previous communication relating to the manner of submission for annual financial statements, section 19(3) audit reports and other statutory returns by authorised FSPs. 5. ENQUIRIES 5.1 For more information about this Communication, please contact Mr. Akashen Rampersadh at akashen.rampersadh@fsca.co.za . 5.2 This Communication is available on the FSCA’s website (www.fsca.co.za) at the following path: Home > Regulatory Frameworks > Industry Communication > FAIS > FSCA Communication FARZANA BADAT DEPUTY COMMISSIONER FINANCIAL SECTOR CONDUCT AUTHORITY Date of publication: 3 April 2024

Annexure

Page 4 of 12 User Guide SUBMISSION OF ANNUAL FINANCIAL STATEMENTS, OTHER STATUTORY RETURNS AND EXTENSION REQUESTS

Purpose of the user guide The purpose of the user guide is to assist impacted financial institutions (Users) to submit Annual Financial Statements and other financial returns via the FAIS e-Portal.

1. Process Please note that only the approved Key Individual (KI) or the linked Compliance Officer (CO) of an FSP can login/register to use the FAIS e-Portal to submit annual financial statements and other statutory returns and extension requests in respect of submitting financial statements. The following is a step-by-step process that Users should follow when completing information on the FAIS e-Portals: 1.1 Registered Users Go to the FSCA website www.fsca.co.za Select

Regulated Entities E-Services FAIS FAIS e-Portal or alternatively, you can click on the link below that will take you to the log-on page: https://www.fsca.co.za/MagicScripts/mgrqispi.dll?APPNAME=Web&PRGNAME =Logon_New 1.2 Unregistered Users If a User is not registered on the FAIS e-Portal, the same steps outlined under Registered Users must be followed. Users will then be directed to the screen below:

Page 6 of 12 o Click on “Register” and a password will be sent to the e-mail address linked to the approved KI or CO of the FSP. o Shoud you experience any technical difficulties with the registration you can request assistance by sending and e-mail to akashen.rampersadh@fsca.co.za 1.3 Additional online user • The FSP is allowed to appoint an additional user to use the e-Portal to submit the financail statemenst and other statutory returns. • The additional user can ony be loaded by the approved KI or the linked CO • This additional user will have limited acces which will only be related to the submission of annual financial statements, other statutory returns and extension requests. 1.4 Capturing of Financial Statements • Once logged in select the Financial Statements radio button as highlighted on the screen below. Enter the year (eg: 2023) and click on “Submit”

• After selecting submit you will be asked to answer the “Client Funds Question”, see below. • If you answer the question “YES” you will be required to complete all the sections that appear on the drop down menu as shown below

Page 8 of 12 • If you answer the question “NO” you will be required to complete all the sections that appear on the drop down menu as shown below IMPORTANT: Remember to click on “Save Changes” either at the top or bottom of the screen after completing each section ***NOTE: All Category l FSPs that do hold or receive any client funds are required to complete FAIS Notice 82 of 2015 (Annexure A), after completion of Annexure A you will be required to complete the declaration at the end as well as download, sign and attach the declartion form under the attachments screen. 1.5 How to complete Annexure A Below is a screen shot of what Annexure A looks like, the form will expand depending on how you answer the quetsions.

When you get to the bottom of the form you will see the screen shot below, where you need to complete the declaration and download the part that needs to be signed. To download the declaration form click on “Download Annexure A Declaration Form” as highligted below Below is an example of what the declaration form looks like,

Page 10 of 12 • It is a mandatory requirement that FSPs attach a signed copy of their Annual Financial Statements to ensure a complete submission. • Follow the steps below to attach your statements and the signed declaration form to Annexure A (only if required) • Click on “Attachements” either at the top or the bottom of the screen • You will then go to the screen below • Click on “Choose File” as highlighted below

• The screen below will appear where you will search for the saved statements, select them and click on “Open” • The attachement will then show on the e-Portal as highlighted below, now click on “Uplaod Attachment” • When the attachment is loaded successfully the “NO” under Action will change to “YES” as shown below, this does not mean that the statements have been submitted to the Authority. *** IMPORTANT: After loading all your attachments you need to click on “Back to Financial Statement” (see note at the top of the attachments page)

Page 12 of 12 • After clicking on “Back to Financial Statement”, you can click on “Submit the Returns” • Once the statements are successfully submitted you will receive the message below will be displayed. • You can then click on “OK” and then “Logout” • To check if the statements have been submitted successfully you can logon to the e-Portal, select “Financial Statements” and enter the year that you just submitted and click on “Submit”, the message below will appear if the submission was successful. • If e-Portal allows you to access the statements again then that means the submission was unsuccessful and you will have to repeat the submission step.