FSCA COMMUNICATION REGARDING APPROVAL OF SUPPLEMENTAL DEEDS

During the height of the national lockdown, the Financial Sector Conduct Authority (‘FSCA’) permitted electronic signatures and electronic submission of supplemental deeds, as it recognized that Collective Investment Scheme (CIS) managers struggled to obtain physical signatures on their supplemental deeds and other related documents. 

The FSCA has noted that because the above arrangement works well for all interested parties it will continue until further notice. CIS managers are, therefore, not required to submit original copies of signed supplemental deeds to the FSCA to be stamped for approval. FSCA approval of supplemental deeds will be recorded in a letter from the FSCA.  

Electronic signatures must be authenticated and comply with section 13(3) of the Electronic Communications and Transactions Act, 25 of 2002. 

To read FSCA Communication 48 of 2020 (CIS), click here. 

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