The FSCA is launching an integrated web service for FSPs to update their representative registers, and the uploading of registers in text format or as Excel spreadsheets will cease to be an option after 31 March next year.
The new electronic channel will enable an FSP to upload its representative register in XML format using system-to-system integration. FSPs will be able to integrate their systems with the web service by using the FSCA’s SOAP API (Simple Object Access Protocol Application Programming Interface). All API communication will be over a secure protocol (HTTPS) to minimise security risks, Felicity Mabaso, the FSCA’s executive: Licensing and Business Centre, said in a communication.
The web service came into effect on 1 November, but it is still in the testing phase, and FSPs will not be allowed to use the service itself until they have accessed the testing environment.
Send an email to firstname.lastname@example.org to request a username and password to access the testing environment.
Once the test has been completed successfully, FSPs will receive new log-in credentials that will enable them to submit changes to the representative register via the web service.
Uploading registers for verification and importation into the FSCA’s central register will not be available from 1 April 2022.
However, apart from the new web service, FSPs will still be able to inform the FSCA of changes to their registers by:
- Submitting Form FSP 5 to the Licensing and Business Centre; or
- Logging on to the e-portal using the log-in credentials provided by the FSCA.
An FSP is required to inform the FSCA of any changes to its representative register within 15 days.
Technical details about the web service can be found at https://www.fsca.co.za/HTML/FAIS/FSCA_REP_Submission_Web_Services.pdf.