Yesterday, the FSCA published the 2020 levy notice. With compliments of our colleague Paull Lawrence, here are two levy calculators to establish what your obligation will be:
A summary of the updated levies:
Category I or IV FSP
| (a) | A base amount of R3 682; and | (2019: R3 575) |
| (b) | KI/Rep x R587 | (2019: R570) |
Category I or IV FSP (1.1 and/or 1.19 only)
| (a) | A base amount of R3 682; and | (2019: R3 575) |
| (b) | KI/Rep x R250 | (2019: R250) |
Category II, IIA or III FSP
| (a) | A base amount of R7 419; and | (2019: R7 203) |
| (b) | KI/Rep x R587; and | (2019: R570) |
| (c) | IUM x 0.0000184595 | (2019: 0.0000184595) |
Ombud Levy
| (a) | A base amount of R1 138; and | (2019: R1 105) |
| (b) | KI/Rep x R434 | (2019: R421) |
The increase amount is roughly 3%, except for the levy on investments managed by Cat II/IIA/III FSPs where there is NO INCREASE in the rate.
Click here to download Notice 443 of 2020.
Click here to download the FSCA’s responses to comments received on the Draft board notice * of 2020: levies on financial institutions.
