Regulatory Alerts2017-08-28
Added · Updated
Circular 2 of 2023 - Request for comments on the recommended fee structure for fees payable to SACRRA
The National Credit Regulator solicits stakeholder comments on a draft fee guideline prescribing fees payable to the South African Credit Risk Reporting Association for Data Transmission Hub onboarding and usage. The proposed structure imposes assessment fees of R750 excluding VAT and annual fees based on SACRRA membership tiers, with specific thresholds for smaller contributors having turnover under R3 million and fewer than 50,000 annual records. Registered credit providers in NCR Categories 1-9 and data providers must complete assessment and commence onboarding within 60 calendar days of publication, while non-payment of fees within 60 days triggers suspension of credit information access and potential enforcement action by the regulator.