- FSPs with a financial year end of 28 February, have until the end of June to submit their Financial Statements to the FSB.
- The Exemption of FSPs and Representatives from Section 13(1)(c) of the FAIS Act will no longer be in force as from the beginning of July. In other words, as from 1 July 2015, “a person may not render financial services or contract in respect of financial services other than in the name of the financial services provider of which such person is a representative”.
The exemption provided for in paragraph 2(a)(iv) of The Exemption of Certain Persons conducting Financial Services related business with a Private Equity Fund will no longer be in the force as from the beginning of next month. This means that a Category II FSP that renders financial services to one or more private equity funds only, must as from 1 July 2015 “maintain liquid assets equal to or greater than 8/52 weeks of annual expenditure”.
