FAIS Newsletter Volume 23

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As usual, this newsletter contains important information for FSPs.

  1. The FAIS online reporting system will in future be known as the FAIS ePortal and the FAIS new license application system as the FAIS eLicensing System.
  2. Compliance Officers are requested to verify and update their contact details on the FSB website, if required, via email to Faispfc@fsb.co.za
  3. Prejudicial treatment of illiterate clients in respect of beneficiary nominations will not be condoned.
  4. Feedback on thematic visits conducted on Category I FSPs who do not have a Compliance Officer (see article below)
  5. Illegal incentives offered to F & Is in the motor industry (see article above) and
  1. Updated FSB contact details which should be filed for easy future reference.

We will look at some of these in more detail, but recommend that you download and read FAIS Newsletter Volume 23 thoroughly.