The FSCA has released Communication 18 of 2020 to inform stakeholders, Financial Services Providers (FSPs) and Key Individuals that, Compliance Reports and Handover Reports usually due for submission to the FSCA in terms of section 17(4)(a) of the FAIS Act, do not need to be submitted during 2020.
No compliance reports or handover reports were published for 2019 or 2020, as the FSCA is developing Conduct of Business Reports (CBR) that will apply to all regulated entities and replace the Compliance Reports.
The communication also provides clarity on related aspects. We advise readers to study this document carefully to make sure you understand how it affects you.
