This is to
ensure that stakeholders are informed of FSCA proposing new
policy interventions of Ensuring Appropriate Financial Consumer
A FAIS notice on Publication of FINAL
amendments to the General and Short-term Deposit Codes of
Conduct as well as Fit and Proper requirements under the FAIS
Act has been released.
A proper process
was followed as required by the FSR Act to do a comprehensive
Public Consultation Process. Proof of documentation from Annexure A-F can be
downloaded through this link.
An FM notice regarding the Impact of Covid-19
on compliance with requirements of the Financial Markets Act has
communicated, the FSCA acknowledged the economic impact of
Covid-19 and the national lockdown as a result, the pandemic
has had multiple impacts on Real Estate Investment Trusts
(“REITs”) and the property sector.
These effects of
the pandemic on our Country have resulted in the
extension of period to comply with various timeframes
referred to in the JSE Listing requirements made under
section 11 of the FMA as previously issued on FM Notice 6 of 2020.
CPD Cycle changes due to the COVID-19 pandemic
The SAIS 2019/2020 CPD cycle has been extended to 31 August 2020. The
2020/2021 CPD cycle will run from 1 September 2020 to 31 May 2021
and CPD hours will be calculated on 9 months instead of 12. The
30 hour CPD requirement will be pro-rated for the 2020/21 CPD
year only, resulting in a total CPD hour requirement of 22 hours
for the 2020/21 CPD year. This means that any CPD hours
logged as completed between 1 June and 31 August 2020 will be
allocated to the 2019/2020 CPD cycle.
are currently experiencing issues with logging members into the
CPD platform. We are working to restore the service. Please
continue to keep track of the CPD that you have completed.
SAIS CPD Offering
We have just launched the FICA CPD course through the SAIS
learning platform. This course is worth 2 CPD hours.