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Member’s notice | New debarment of representative procedures

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This communication is relevant to all members.

A debarment in terms of section 14(1) of the FAIS Act, means that the provider prohibits a representative who no longer complies with the fit and proper requirements from rendering financial services and removes his/her name from the register of representatives.

The documents below give an overview of the latest procedures an FSP must follow when a representative must be debarred. Further to this, is a FSCA debarment notice under section 14.

The documents are in English and Afrikaans for ease of reading and interpretation.

Members are welcome to contact our National Manager: Compliance, Joe Kotzé at joe@fia.org.za or 087 945 5381 if you have any queries or any further information.