Regulatory Alerts2022-04-20
FSCA Communication 13 of 2022 (FAIS) on Submission of Compliance, Handover and Irregularity Reports for FSPs
The Financial Sector Conduct Authority (FSCA) has issued Communication 13 of 2022 to clarify reporting obligations for Financial Services Providers (FSPs) and compliance officers during 2022. The Authority has suspended the submission of annual compliance reports and waived prescribed formats for handover reports, allowing them to be submitted via simple correspondence. Irregularity reports remain mandatory for material or suspected conduct issues, and FSPs with outstanding pre-2019 compliance reports must submit them to avoid regulatory action.
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