Secondary

update

FSB Regulatory Updates

The FSB published the following information on draft documents for comment in its FAIS Newsletter 24.

Conduct of Business Returns (CoBR)

The draft FAIS CoBR was published for comment on 6 December 2016. Comments were received from 33 respondents, which include industry associations, compliance practices, FSPs and individual respondents. The feedback was collated and the Registrar is considering the comments against the draft document. Feedback will be provided to industry in the last quarter of the year.

Fit and Proper amendments (F&P)

The draft F&P was published for comment in October 2016. Comments were received from 26 respondents, including industry associations, compliance practices and individual FSPs. This process should also be finalised in the last quarter of the year.

Seeing that the “last quarter of the year” started 5 days ago, it can be any day now.

The Fit and Proper amendments are of particular interest to those who are busy preparing for the Regulatory Exams, as the question bank will need to be amended. This means that the study material will also need to be updated. It would be wise, therefore, to write the REs as soon as you are ready, rather than postpone it unnecessarily.

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