Dear SAIS Member
SAIS would like gain more insight into certain industry practices. Your feedback will be highly appreciated.
1. Have you registered:
  as a Reporting Model I FFI i.e. one GIIN number 
  as a Sponsored Entity, with the Sponsoring Entity being the nominee company who is the true custody holder?
2. FICA - What is your approach with regard to FIC PCC46 – Guidance on the Commencement and Enforcement of the Financial Intelligence Centre Act 2001 (ACT 38 of 2001) as amended by the Financial Intelligence Centre Amendment Act, 2017 (ACT 1 of 2017) ?

3. What is your firm's approach to the COVID- Supervisory Approach as per Joint communication 2 of 2020?



Please take note of the following industry updates:

A Collective Investment Schemes (CIS) Notice has been released.  

  • Exemption of managers of CIS from certain requirements relating to the administration of portfolios as required by the CIS Control Act, 2002

National Treasury and FSCA
The National Treasury and  FSCA released a notice regarding an extension for comments on Discussion Paper - Building Competitive Financial Markets for Innovation and Growth. This has been extended further and submissions are due by the end of May 2020.
Thank you to those who have already submitted their comments. For those that still wish to submit, SAIS will require your comments for submission by 22 May 2020.


Course: The Key Individual Role of Stockbroker in Control

The aim of this course is to provide individuals interested in becoming a Stockbroker in Control with the structure, methodology and scope that this key individual (KI) will require.  KIs are those responsible for managing and overseeing the activities relating to the rendering of any financial service.  Managing means to have executive control or authority and overseeing is the function of supervising a person/s and their work in an official capacity.  Where stockbroking firms are concerned, stakeholders reply on the fact that a competent key individual is assuming responsibility for the overall risk management and compliance. 

The Stockbroker in Control is the coordinating and consolidating KI between firms’ external and internal stakeholders.  They preform a key pivotal role of protecting the market and the firm.

Registrations for this course will be open from 1 June 2020.