Regulatory changes have a huge impact on the content of the Regulatory Exams. The latest FSCA FAIS Notice that comes into effect on 1 February 2019 is no exception. Candidates need to take careful note of the following: Candidate 1: “I am writing my RE1 or RE5 exam on or before 31 January 2019”. The Preparation Guide, Version 14 […]
This is the time of year when a vitamin B jab becomes obligatory if you want to make it to the festive season. To make matters worse, the burden of budgeting for 2019 also starts rearing its unwelcome head. A recent consultation paper, published by the FSCA, contains some very relevant issues which may have […]
The FSCA has published the 2018 levy notice. Category I or IV FSP (a) A base amount of R3 373; and (2017: R3 182) (b) KI/Rep x R538 (2017: R508) Category I or IV FSP (1.1 and/or 1.19 only) (a) A base amount of R3 373; and (2017: R3 182) (b) KI/Rep x R250 (2017: R250) Category […]
The May edition of the FSCA FAIS Newsletter contains a summary of events since the publication of Board Notice 194 of 2017 (the “Fit and Proper” Board Notice) which came into effect on 1 April 2018 and impacted on the RE 1 and RE 5 regulatory exams. The “Fit and Proper” Board Notice contains amended qualifying criteria for these […]
The Financial Sector Conduct Authority (Authority) intends to replace the current compliance reports with the proposed Conduct of Business Report (COBR) that was published for public comment on the official web site of the FSCA. The proposed COBR was necessitated by the changing regulatory landscape and the focus on outcomes based regulation and proactive supervision. […]
The Financial Sector Conduct Authority (FSCA) has just published a general communication to Accountable Institutions (AIs) on its supervisory approach to implementation of the Amendments to the Financial Intelligence Centre Act, 2001 (FICA). This publication confirms the FSCA’s commitment to assist Accountable Institutions with implementation of the required systems, procedures and controls envisaged in the […]
The Financial Sector Conduct Authority (FSCA) envisages a shift from the current sectoral licensing model to a more centralised, activity-based licensing one. This shift, however, will only take place in the second phase of implementation of the Twin Peaks model. Until then, the licensing of entities will continue to take place under the existing financial […]
Below is a summary of a recent article by Advocate Dube Tshidi, Executive Officer at the FSB, which was published in Insurance Gateway. When the FSB becomes the Financial Services Conduct Authority (FSCA), it is not merely a switch to a new entity. It is the establishment of a completely new organisation which requires a […]
