The FSCA has published the following FAIS Notices:
FAIS Notice 53 of 2024, which lists the persons who have been exempted from the fee and/or competency requirements.
FAIS Notice 54 of 2024, which conditionally exempts Rand Water from section 7(1) of the FAIS Act to 24 July 2027.
FAIS Notice 55 of 2024, which amends FAIS Notice 23 of 2024 by substituting the name of the applicant, “Liberum Capital Limited”, with the name “Panmure Liberum Capital Limited”. FAIS Notice 23 conditionally exempts Panmure Liberum Capital from section 7(1) of the FAIS Act in respect of certain clients. The exemption is valid to 30 June 2025.
The Financial Services Tribunal published, on 24 and 25 July, consent orders in terms of which the FSCA agreed to reconsider its decisions taken on 11 June 2024 to withdraw the licences of the following applicants:
- JM Brothers Funeral Services
- Mthuthuzeli Financial Group
- Pauline Funeral Services
- Raphala and Raphala Family Funerals
The Tribunal did not provide reasons for the Authority’s decision. The withdrawal of the applicants’ licences was set aside pending the outcome of the reconsiderations.
