NEWS:

FINANCIAL SERVICES BOARD LEVY 2016/2017
06/13/2016

The Financial Services Board imposes levies on the institutions it supervises, to cover the costs of supervision. These levies are calculated and payable annually.

For all authorized Category II and Category IIA FSPs the levies are based on the market value of the investments under discretionary management.

Please complete, sign and then forward the declaration attached to your recent Compliance Update to debbi@complianceservices.co.za or christelle@complianceservices.co.za confirming your Assets under Management (AUM) as at 30 June 2016.

ICS will then also sign the declaration and submit it to the FSB on your behalf. Please note that the deadline for submission to the FSB is 31 July 2016.

Investments under management held in foreign currency must be calculated in your AUM at the exchange rate published in the press as at 30 June 2016.

The Registrar views it in a serious light if information submitted by FSPs in respect of the AUM differs substantially from that which is provided on their compliance reports and will take regulatory actions against such FSPs.

 

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