CHANGES TO ELECTRONIC SUBMISSION OF REPRESENTATIVE REGISTERS
Financial Services Providers (FSPs) must notify the Financial Sector Conduct Authority (FSCA) of any changes to their representative registers within 15 days of the change.
The FSCA will be introducing an electronic channel through which an FSP can upload its representative register using a system to system integration and XML (plain text) format.
FSPs will still, however, be able to add, modify and remove representatives by submitting the appropriate FSP form or logging onto the FSCA’s e-portal. ICS will continue to submit profile changes in respect of representatives on behalf of its clients via the FSCA’s e-portal.
FSPs will be able to request credentials to test the new electronic channel from 1 November 2021.
From 31 March 2022, the submission of representative registers in excel format will no longer be accepted by the FSCA.
To read FSCA Communication 19 of 2021 (FAIS), click here.