The portal allows for electronic submissions

1. Submission of Statutory Reports and Returns including Capital Adequacy reports, Annual Financial Statements, Mark to market report, Quarterly Portfolio holding reports and compliance certificates/reports and Quarterly Foreign Scheme Statistics
2. Submission of advertising, marketing and information disclosure requirements for CIS
3. Applications for new CIS, amendments, amalgamations and terminations for CIS
4. Update user rights to be able to submit information on behalf of the Manager or Foreign Scheme it represents

FAIS Online Submissions (E-Services)

The following services are accessible to persons that register for e-services:

• New licence application
• Submission of compliance reports & financial statements & handover reports
• Extension requests for financial statements
• Query FSP detail
• Update contact details
• Profile changes
• Request representative register
• Maintain representative register
• Maintain representative import users
• Search ID for date of first appointment (DOFA)

* For more information on e-services registration, contact: 012 428 8000

In order to ensure efficient and effective mechanisms for compliance and supervision, various online portals are made available to industry and regulated entities.

Retirement Funds and Benefit Administrators must submit applications and responses to queries electronically on the web based FSCA Retirement Online System. The users will also be able to monitor the progress of applications on the system.

The FSCA also provides a software package to submit prescribed financial statements and quarterly non-compliance reports electronically to the Registrar.

The following E-services are available:

• FSCA Retirement On-line system
• The system is an extension of the FSCA’s workflow system for Retirement Funds. It allows registered users to submit applications, attach documents to current cases and permits the user to view basic statistics on work in progress. Strict security allows access only to relevant funds pertaining to the administrator for which a user is registered.
• FSCA Schedule System
• Annual Financial Statements submissions
• The user will capture data in the prescribed format and attached a scanned copy of the signed financial statements. The system will validate all schedules before the submission can be exported to FSCA as a password protected zip file. The information on the zipped file will be imported if the password in the zip file matches the password on the FSCA database.
• Quarterly non-compliance reports (Regulation 28)
• The user will capture data in the prescribed format and attached a scanned copy of the quarterly non-compliance report. The system will validate the schedules before the submission can be export to FSCA as a password protected zip file. The information on the zipped file will be imported if the password in the zip file matches the password on the FSCA database.

We are responsible for the regulation and supervision of securities exchanges central securities depositories, clearing houses, central counterparties and trade repositories with the aim of ensuring that the South African capital markets are fair, efficient and transparent. We also uphold the confidence in the South African capital markets, promotion of the protection of investors, reduction of systemic risk and promotion of the international and domestic competitiveness of the South African capital markets.

The Securities Regulatory Framework enables issuers to list its securities (shares, derivatives and bonds) on an exchange and creates a safe environment for investors to buy and sell listed securities and to place their securities for safe custody with a central securities depository.

The Licensing and Registration Department registers managers of local collective investment schemes after being satisfied that they meet the fit and proper requirements and conditions for registration, supervise such schemes on an on-going basis to ensure that they comply with the duties imposed by the Act at all times and take the necessary regulatory action against those who do not comply, which include unregistered entities or persons.

The Licensing and Registration Department is also responsible for the approval of foreign collective investment schemes and portfolios should they comply with the conditions in terms of which foreign collective investment schemes may solicit investments in the Republic of South Africa.

Our services

Registration Department is responsible for:

• Applications for new managers of collective investment schemes in securities, hedge funds, property and participation bonds;
• Additional collective investment schemes in securities, hedge funds, property and participation bonds
• Additional portfolios of collective investment schemes in securities, hedge funds, property and participation bonds
• The approval of foreign collective investment schemes for marketing in south africa, categorised as a collective investment scheme in security or a hedge fund
• Additional sub-funds for foreign collective investment schemes
• Amendments to local and foreign collective investment schemes/portfolios
• Change in shareholding of local managers
• Approval of directors of local managers
• Amalgamations of local collective investment schemes and portfolios
• Terminations of local collective investment schemes and/or portfolios

The FSCA regulates and monitors the conduct of credit rating agencies. We follow a risk-based regulatory approach and are committed to adhering to the recommendations of the G20 and the International Organisation of Securities Commission (IOSCO).

Credit rating agencies can apply below for their mandatory registration, or exemption from registration, as well as request amendments to their registration details.

FAIS licensing and registration process

The Registration Department is responsible for:

• New licence applications
• Profile changes (amendments to licences)
• Updating the central representative register
• Approval of mandates and application forms for discretionary FSPS and administrative FSPS
• Approval of compliance officers
• Approval of nominee companies
• Liaison with the FSCA’s Finance Department relating to the collection of levies
• Fit and Proper requirements

The Insurance Division supervises and enforces insurers’ compliance with the conduct of business requirements of the Long- and Short-term Insurance Acts and subordinate legislation made under these Acts. The division also develops regulatory proposals on how these requirements may need to be adapted to best meet the objectives of insurance regulation and supervision.

This includes the development of legislative and regulatory frameworks, supervision of legislative and regulatory frameworks, and the assessment of complaints received against insurers and entities who conduct unregistered business (in accordance with a delegation from the Prudential Authority).

The Licensing and Registration Department approves and registers retirement funds if the funds comply with the prescribed requirements and the registration of these funds is desirable in the public interest in terms of the Pension Funds Act (PFA) and approve benefit administrators after being satisfied that they comply with the conditions as prescribed in Board Notice 24 of 2002.

Supervise such funds and benefit administrators on an on-going basis to ensure compliance with the duties imposed by the PFA at all times and take necessary regulatory action against non-complying entities

Our services

Registration is responsible for:

• New fund registrations - Registration of a new fund in terms of section 4 and regulation 30 of the PFA.
• Amendments to registered rules – Registration of amendments to the rules in terms of section 12 of the PFA.
• Revised & Consolidated Rules – Registration of a Revised Rules in terms of section 12 and regulation 30 of the PFA
• Special Rules – Registration of rules to govern a new participating employer’s participation in Umbrella Funds in terms of section 12 of the PFA.
• Revised Special Rules – Registration of revised Special Rules in Umbrella Funds in terms of section 12 of the PFA.
• Extensions – extension to submit outside the prescribed periods in terms of section 31(1) and (2) of the PFA and Condition 11 of Board Notice 24 of 2002.
• Change of administrator - Change of administrator in terms of Condition 4 of Board Notice 24 of 2002.
• Notification of Fund Officers – Monitoring person in terms of section 13A(6) and Principal Officer in terms of section 8 of the PFA and Directive 5
• Cancellation of funds and Termination of participating employers – Cancellation of funds in terms of section 27 and termination of participating employers in terms of section 12 of the PFA
• Approval of Benefit Administrators – Approval of benefit administrators in terms of section 13B of the PFA and Board Notice 24 of 2002.
• Profile changes (any changes after approval /registration of the information submitted during the application process must be communicated to the Registrar.)

Disclaimer

The material contained in this document is provided for general information purposes only. While every care and effort have been taken to ensure the accuracy and completeness of the information provided, the Financial Sector Conduct Authority makes no representation and gives no warranty, whether express or implied, relating to the correctness of the information in this document. The Financial Sector Conduct Authority accepts no responsibility for, and the user indemnifies the Financial Sector Conduct Authority harmless from any loss, liability, damage or expense of whatsoever nature (including but not limited to direct, indirect and consequential loss), arising from reliance on information contained in this document, or otherwise connected with the information in this document [whether arising from breach of contract (fundamental or otherwise), elicit, negligence, gross negligence or otherwise].

The Financial Sector Conduct Authority owns the copyright of this document. No part of the document may transmittedbe reproduced, transmitted, or reused or be made available in any manner or any media. The information in the list of registered entity may include personal information of regulated entities and persons. For more information on how the FSCA processes personal information, please visit the Privacy Policy of the FSCA on link.

In the event of any dispute of whatever nature arising as a result of the use of the information in this document, the user (including users resident outside the Republic of South Africa) accepts that the law of the Republic of South Africa shall apply.

Disclaimer

The material contained in this document is provided for general information purposes only. While every care and effort have been taken to ensure the accuracy and completeness of the information provided, the Financial Sector Conduct Authority makes no representation and gives no warranty, whether express or implied, relating to the correctness of the information in this document. The Financial Sector Conduct Authority accepts no responsibility for, and the user indemnifies the Financial Sector Conduct Authority harmless from any loss, liability, damage or expense of whatsoever nature (including but not limited to direct, indirect and consequential loss), arising from reliance on information contained in this document, or otherwise connected with the information in this document [whether arising from breach of contract (fundamental or otherwise), elicit, negligence, gross negligence or otherwise].

The Financial Sector Conduct Authority owns the copyright of this document. No part of the document may transmittedbe reproduced, transmitted, or reused or be made available in any manner or any media. The information in the list of registered entity may include personal information of regulated entities and persons. For more information on how the FSCA processes personal information, please visit the Privacy Policy of the FSCA on link.

In the event of any dispute of whatever nature arising as a result of the use of the information in this document, the user (including users resident outside the Republic of South Africa) accepts that the law of the Republic of South Africa shall apply.

Disclaimer

The material contained in this document is provided for general information purposes only. While every care and effort have been taken to ensure the accuracy and completeness of the information provided, the Financial Sector Conduct Authority makes no representation and gives no warranty, whether express or implied, relating to the correctness of the information in this document. The Financial Sector Conduct Authority accepts no responsibility for, and the user indemnifies the Financial Sector Conduct Authority harmless from any loss, liability, damage or expense of whatsoever nature (including but not limited to direct, indirect and consequential loss), arising from reliance on information contained in this document, or otherwise connected with the information in this document [whether arising from breach of contract (fundamental or otherwise), elicit, negligence, gross negligence or otherwise].

The Financial Sector Conduct Authority owns the copyright of this document. No part of the document may transmittedbe reproduced, transmitted, or reused or be made available in any manner or any media. The information in the list of registered entity may include personal information of regulated entities and persons. For more information on how the FSCA processes personal information, please visit the Privacy Policy of the FSCA on link.

In the event of any dispute of whatever nature arising as a result of the use of the information in this document, the user (including users resident outside the Republic of South Africa) accepts that the law of the Republic of South Africa shall apply.

Disclaimer

The material contained in this document is provided for general information purposes only. While every care and effort have been taken to ensure the accuracy and completeness of the information provided, the Financial Sector Conduct Authority makes no representation and gives no warranty, whether express or implied, relating to the correctness of the information in this document. The Financial Sector Conduct Authority accepts no responsibility for, and the user indemnifies the Financial Sector Conduct Authority harmless from any loss, liability, damage or expense of whatsoever nature (including but not limited to direct, indirect and consequential loss), arising from reliance on information contained in this document, or otherwise connected with the information in this document [whether arising from breach of contract (fundamental or otherwise), elicit, negligence, gross negligence or otherwise].

The Financial Sector Conduct Authority owns the copyright of this document. No part of the document may be reproduced, transmitted, or reused or be made available in any manner or any media. The information in the list of registered entity may include personal information of regulated entities and persons. For more information on how the FSCA processes personal information, please visit the Privacy Policy of the FSCA on this link.

In the event of any dispute of whatever nature arising as a result of the use of the information in this document, the user (including users resident outside the Republic of South Africa) accepts that the law of the Republic of South Africa shall apply.

Disclaimer

The material contained in this document is provided for general information purposes only. While every care and effort have been taken to ensure the accuracy and completeness of the information provided, the Financial Sector Conduct Authority makes no representation and gives no warranty, whether express or implied, relating to the correctness of the information in this document. The Financial Sector Conduct Authority accepts no responsibility for, and the user indemnifies the Financial Sector Conduct Authority harmless from any loss, liability, damage or expense of whatsoever nature (including but not limited to direct, indirect and consequential loss), arising from reliance on information contained in this document, or otherwise connected with the information in this document [whether arising from breach of contract (fundamental or otherwise), elicit, negligence, gross negligence or otherwise].

The Financial Sector Conduct Authority owns the copyright of this document. No part of the document may transmittedbe reproduced, transmitted, or reused or be made available in any manner or any media. The information in the list of registered entity may include personal information of regulated entities and persons. For more information on how the FSCA processes personal information, please visit the Privacy Policy of the FSCA on link.

In the event of any dispute of whatever nature arising as a result of the use of the information in this document, the user (including users resident outside the Republic of South Africa) accepts that the law of the Republic of South Africa shall apply.

Disclaimer

The material contained in this document is provided for general information purposes only. While every care and effort have been taken to ensure the accuracy and completeness of the information provided, the Financial Sector Conduct Authority makes no representation and gives no warranty, whether express or implied, relating to the correctness of the information in this document. The Financial Sector Conduct Authority accepts no responsibility for, and the user indemnifies the Financial Sector Conduct Authority harmless from any loss, liability, damage or expense of whatsoever nature (including but not limited to direct, indirect and consequential loss), arising from reliance on information contained in this document, or otherwise connected with the information in this document [whether arising from breach of contract (fundamental or otherwise), elicit, negligence, gross negligence or otherwise].

The Financial Sector Conduct Authority owns the copyright of this document. No part of the document may transmittedbe reproduced, transmitted, or reused or be made available in any manner or any media. The information in the list of registered entity may include personal information of regulated entities and persons. For more information on how the FSCA processes personal information, please visit the Privacy Policy of the FSCA on link.

In the event of any dispute of whatever nature arising as a result of the use of the information in this document, the user (including users resident outside the Republic of South Africa) accepts that the law of the Republic of South Africa shall apply.

We are responsible for the regulation and supervision of securities exchanges central securities depositories, clearing houses, central counterparties and trade repositories with the aim of ensuring that the South African capital markets are fair, efficient and transparent.

We also uphold the confidence in the South African capital markets, promotion of the protection of investors, reduction of systemic risk and promotion of the international and domestic competitiveness of the South African capital markets

The Securities Regulatory Framework enables issuers to list its securities (shares, derivatives and bonds) on an exchange and creates a safe environment for investors to buy and sell listed securities and to place their securities for safe custody with a central securities depository.

The FSCA regulates and monitors the conduct of credit rating agencies. We follow a risk-based regulatory approach and are committed to adhering to the recommendations of the G20 and the International Organisation of Securities Commission (IOSCO).

Credit rating agencies can apply below for their mandatory registration, or exemption from registration, as well as request amendments to their registration details.

Supervisory information includes:

• FAIS Newsletters: All the FAIS newsletters issued to industry from 2013 to date
• Guidance Notes: The Guidance Notes issued under the FAIS Act that are in force
• FAIS Guides: The FAIS Guides developed for sole proprietors, which provides guidance on accessing functions on the e-services portal, and guides for developing internal policies
• Financial statements and audit requirements: The requirements for the drawing up of and submitting financial statements and audit reports
• Compliance reports: The links to the compliance reports for FSPs and Compliance Officers who do not submit them via the e-services portal
• Nominee companies: Guidelines and documents relevant to nominee companies
• Resources and documents: Presentations, information circulars and other useful information
• Service level commitments
• Exemption applications

As at 1 April 2018, the debarment process under the FAIS Act was amended by the FSR Act 9 of 2017. Thus financial services providers and representatives are advised to familiarise themselves with their compliance requirements under the amended section 14 of the FAIS Act.

Although the debarment process has changed significantly, a substantial part of the basic process has been retained including the Notification of Debarment Form which can be downloaded:

• Debarment Notification Form (PDF, 114KB)
• Debarment Notification Form (DOC, 102KB)

Guidelines and documents outlining and unpacking information required for the registration and supervision of financial products, highlighting requirements.

Supervisory information includes:

• Service level commitment – define the roles, responsibilities and time periods with regard to services rendered
• Guidance Notes
• Addition to distribution list - To be added to the distribution list to receive documents issued by the Registrar of Pension Funds, e.g., Information Circulars, Pension Funds Directives etc.
• Financial Statements Guidance Notes - The requirements for the drawing up of and submitting financial statements and audit reports
• Quarterly Non Compliance Guidance Notes – The requirements to complete the non-compliance report on a fund level, issuer/entity level and member level, where a fund exceeded the limits as prescribed in Regulation 28.
• Trustee Toolkit – a development programme for trustees, based on the Registrar of Pension Funds’ guidelines on good governance for retirement funds which assists trustees to get a better understanding of their role and functions.
• Resources and Documents – Presentations and other useful information
• Liquidations - The requirements for the appointment of a liquidator and submitting of liquidation accounts
• Exemption applications
• Actuarial Services - The requirements for submitting transfer documents and valuation reports