FAIS Newsletter 16, published in December 2013, contains the following information:
Sections 5.4 of the Administrative Code of Conduct and 5.2, 5.3 of the Discretionary Code of Conduct deal with the approval of the “specimen mandates”. The FSPs mandate is initially approved by the Registrar at the application stage.
Thereafter the specimen mandate may not be substantially amended without prior written approval of the Registrar. Whilst conducting onsite visits on some Category II (Discretionary FSPs) and Category III (Administrative FSPs) in the past it was noted that some FSPs made substantial amendments to their specimen mandate without having submitted it to the FAIS Registration Department for approval.
All mandates that are substantially amended must be submitted to Fais.Mandates@fsb.co.za for approval.
The phrase “substantially amended” is rather subjective. It may be wise to get prior approval from the Registrar, rather than rely on your own interpretation of whether it is “substantial” or not.