The Financial Sector Conduct Authority (FSCA) is in the process of developing a Conduct of Business Report (CBR) that will apply to all regulated entities and will have to be submitted to the FSCA annually.
Once finalized, the CBR will replace the FAIS compliance reports that were, in previous years, submitted to the FSCA.
Pending finalization of the CBR, the FSCA has confirmed that no FAIS compliance reports will be required to be submitted during 2021 and that there is no prescribed format for handover reports by compliance officers.
Compliance officers are still required to report the reasons for termination of their appointment and any instances of material non-compliance of which they are aware, however, there is no prescribed format for such reports.
To read FSCA Communication 16 of 2021, click here.
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