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.
- PROCEDURES FOR DEBARMENT OF A REPRESENTATIVE
- PROSEDURES VIR UITSLUITING VAN VERTEENWOORDIGERS
- FORM AND MANNER OF SECTION 14 NOTIFICATIONS
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.
