FSPs will heave a collective sigh of relief on hearing that the new levies payable to the FSB actually decreased this year. No indication of the reason for this is given, but we presume that there was a surplus in collections for the previous year, which led to an actual decrease in 2017. The same can unfortunately not be said of the FAIS Ombud levy, but as it is a substantially lower sum of money, the effect of the 7% increase is negligible.
Category I or IV FSP
| Base Amount: | R3 182 | (2016: R3 459) |
| Per KI/Rep Amount: | R508 | (2016: R553) |
Category I or IV FSP (1.1 and/or 1.19 only)
| Base Amount: | R3 182 | (2016: R3 459) |
| Per KI/Rep Amount: | R250 | (2016: R250) |
Category II, IIA or III FSP
| Base Amount: | R6 411 | (2016: R6 969) |
| Per KI/Rep Amount: | R508 | (2016: R553) |
| Investments Under Management x 0.0000164289 | (2016: 0.0000178575) | |
Levy for funding of Office of Ombud for Financial Services Providers
| Base Amount: | R947 | (2016: R885) |
| Per KI/Rep Amount: | R360 | (2016: R337) |
Click here to download two levy calculators to establish what your obligation will be, with compliments from my colleague, Paull Lawrence:
