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Profile Changes

 

Profile Changes - Complying to licensing conditions

   
 

In terms of the conditions on authorised financial service providers any changes to the information submitted during the application process must be communicated to the registrar within 15 days of such a change.

 

The updated information must be sent to the registrar on the prescribed FSP1-14 forms. The information can be e-mailed to faispfc@fsb.co.za or faxed to (012) 422 2973, for attention FAIS Profile changes. An acknowledgement of receipt will be sent to the FSP that must be kept as it contains reference numbers for queries.

If you require any additional information please send an e-mail faispfc@fsb.co.za

Please note that if you do not submit the proof of payment with the profile change it will not be processed.

   
 

FINANCIAL SERVICES PROVIDERS MUST SUBMIT THE FOLLOWING:

   
 

Changes of Name of the Licensee:

 
  • A letter to request the change of name and proof of the name changes in the case of a company, close corporation or trust
  • Fee of R731
  • If a company or close corporation converts it is regarded as a name change and the conversion documentation need to be submitted with the request to change the name
  • Please note that should you change the entity (unless if it is a conversion of a company or close corporation) in which you conduct business, it is a new application
   
 

Representatives

 
  • To add a representative: Submit a FSP 5 form or to remove a representative submit a letter providing the reasons for the removal; or
  • Submit information in Excel Spreadsheet, click here to download
  • Please note that in terms of section 13 of the Act the FSP appoints representatives and they must only notify the Registrar of the appointment. It is the FSP's responsibility to ensure that the representatives complies with the fit and proper requirements.
  • Debarment of a representative please submit a letter with full reasons of the debarment. If the debarment is submitted through the Excel Spreadsheet please send a letter with the full reasons in a separate e-mail.
   
 

Key individuals

 
  • Appointment of a new key individual submit a FSP 4 form and certified copies of qualifications
  • FSP 14A form
  • Fee of R1307
  • For the removal of a key individual submit a letter stating the name and ID number of the key individual and the reason for the removal.
  • If the key individual will also be appointed as a representative FSP 5 form is also required
   
 

Submitting of Key individuals' qualifications

 
  • A letter stating the name, ID number and new qualification of the Key individual and
  • A Certified copy of the qualification
   
 

Variation of products

 

Adding additional products

  • FSP 2 form
  • FSP 4 form for Key individuals that will manage or oversee the financial services relating to additional products
  • List of representatives involved additional product (ID number, Full name and products) or alternatively the information can be updated per excel spreadsheet when the licence is amended
  • FSP 14A form
  • Fee of R1428
 

Removal of financial products

  • A letter requesting the removal of the financial product from the licence
  • FSP 2 form indicating the products that must remain
  • FSP 14A form
 

Application for additional category

  • FSP 2 form
  • FSP 4 form (sections A,H,I) for key individuals that will manage or oversee the financial services relating to the category
  • List of representatives involved additional product (ID number, Full name and products) or alternatively information can be updated per excel spreadsheet when the licence is amended
  • FSP 7 form
  • FSP 8 form
  • FSP 14A form
  • Fee of R2 172.60 (add category I) or R13 139.10 (add category II) or R35 091.20 (add category III)
  • Fee of R 2 172.60 (category IV)
   
 

Change of compliance officer or appointment of a compliance officer

 
  • FSP 6 form
  • FSP 14A
  • Fee of R775 for change of the external compliance practise or internal compliance officer or for the appointment of a compliance officer is applicable
  • Please note that if a compliance officer resigns a letter of resignation must be send to the Registrar by the compliance officer stating the reasons for the resignation. The FSP must immediately apply for the appointment of a new compliance officer
  • Please note that before a compliance officer can be approved to act for a specific FSP the compliance officer must first be approved (Contact the call centre to obtain a compliance officer number)
   
 

Change of shareholders, directors, members or trustees

 
   
 

Change to information submitted FSP1 of application form or contact detail in FSP3,4,5,10A,10B or 11 or change of contact details of key individuals

 
  • Submit a letter informing Registrar of information that have changed
   
 

Change of auditor

 
  • FSP 9 form
  • FSP 14A form
  • Fee of R360
  • Please note that if an auditor resigns a letter of resignation must be send to the Registrar by the auditor stating the reasons for the resignation. The FSP must immediately apply for the appointment of a new auditor
   
 

Request for new licence certificate or certified copy of licence certificate

 
  • Letter requesting a new licence certificate or certified copy of the licence certificate
  • Fee of R221 per certified copy or R565 for new licence certificate
   
 

COMPLIANCE OFFICERS

   
 

New compliance officer (Phase I)

 
   
 

Removing a compliance officer from a compliance practise

 
  • Submit a letter requesting the removal of the compliance officer from the practise
   
 

Change compliance officer status (external/internal)

 
  • Please submit a letter requesting change in status and
  • For a change to external compliance officer submit proof of qualifications and experience if was not submit in the original application
 

Mandates

 
  • Amendment of existing mandates or approval of additional mandates
  • Fee of R4033
   
 

Change in contact details

 
  • Please submit a letter requesting change of details
   
 

NOMINEES

   
 

To link a Nominee to an approved FSP:

 
  • FSP 10 form
  • Note: A Nominee can only be linked to a FSP if such Nominee is approved in terms of the requirements imposed by the Financial Services Board for Nominees to operate in South Africa.
  • Click here to download the Requirements and the application form.
   
 

To remove a Nominee from a FSP:

 
  • Submit a letter providing the reasons for the removal and also indicate whether or not the Nominee will be replaced with another company.
   
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