Regulatory Alerts2021-08-12
FSCA Communication 16 of 2021 (FAIS): Submission of Compliance, Handover and Irregularity Reports for FSPs
The Financial Services Conduct Authority (FSCA) has issued Communication 16 of 2021 to suspend standard compliance reports and waive prescribed formats for handover reports while maintaining mandatory irregularity reporting for Financial Services Providers in 2021. Compliance officers must continue to notify the Authority of material irregularities in writing, and resigning officers must submit corresponding handover statements without a fixed format. Additionally, all outstanding compliance reports dating from an entity's approval up to 2018 remain enforceable, with non-submission potentially triggering regulatory action.
Share