Secondary

FSB and Ombud Levies

All registered FSPs should, by now, have received their invoices in respect of the FSB and FAIS Ombud levies. These levies are for the period 1 April 2013 to 31 March 2014.

If you did not receive an invoice, it is likely that your contact details are not up to date at the Regulator. Please contact them urgently to rectify the situation.

Please click here to download the Moonstone Levy calculator to verify your obligation.

An interesting situation arises in the case of suspensions. Board Notice 121 of 2013 states:

“Where the authorisation of financial services provider is suspended on 31 August 2013, but the Registrar lifts the suspension thereafter, the authorised financial services provider is liable to pay the levy in accordance with the applicable sub-item within 30 days from the suspension being lifted, subject to the maximum amounts stipulated…” The levy must be calculated on the basis of the statistics of the authorised financial services provider as at the date of the suspension being lifted.”

Those intending to cancel their licences should have informed the Registrar before 31 August 2013. If they did not, they are liable for payment.

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