Please take note of the following updates in the industry.

From the FSCA...

  • A guidance note in terms of section 141 of the Financial Sector Regulation Act, 2017 has been published.
    • This note is to provide guidance on the requirements in terms of the FAIS Act pertaining to the lapsing of a licence issued in terms of the FAIS Act and the duties of the financial services providers, any key individual of the FSP, or another person in control of the affairs of the FSP. It will also deal with the effect of non-compliance with the requirements of the FAIS Act in relation to the lapsing of licences.





From the FSCA and Prudential Authority (SARB)...
A Joint Standard Communication on the effective date for significant owners has been published.

  • The Effective date of this communication is 1 December 2020, the purpose is to convey certain information with regards to Fitness, propriety and other matters relating to significant owners. 



Please note that the SAIS will close for the festive season at 12h00 on 24 December 2020 and will re-open on 4 January 2021.