The Financial Services Board imposes levies on the institutions it supervises, to cover the costs of supervision. Board Notice 101/2015 contains details of the levies payable by 31 October 2015 in respect of the levy year for the period from 1 April 2015 to 31 March 2016.
Levy on Category I and IV FSPs:
A base amount of R3391 and a fee of R542 per key individual/representative as at 31 August 2015.* (For Category I FSPs who only render financial services in connection with Long-Term Insurance Category A, a smaller amount per key individual/representative is payable.)
Levy on Category II, IIA and III FSPs:
A base amount of R6832 and a fee of R542 per key individual/representative as at 31 August 2015* and 0.0000175073 x total value of investments managed on behalf of clients on 30 June 2015. Investments under management held in foreign currency must be included at the exchange rate published in the press on that date.
Levy for funding of Office of Ombud for Financial Services Providers:
A base amount of R835 and a fee of R318 per key individual/representative as at 31 August 2015.*
*Key individuals who are also listed as representatives will only be counted once.
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