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Member notice | FSCA annual levies for 2018/2019

July 4, 2018

ARTICLE BY

Joe Kotze

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This communication is relevant to Category 1 FSPs.

The FSCA has published the annual levies for 2018 in Financial Services Board Notice 362 of 2018.

NOTES:

The 2018 levy year is from 1 April 2018 to 31 March 2019.
Levy amounts are calculated on 31 August 2018.
The FSCA must be informed of changes to key individual and representative registers before 31 August 2018.
Key individuals who are also representatives are only taken into account as key individuals for the calculations.

Levies must be paid before 31 October 2018.
FSPs whose licenses are suspended on 31 August 2018 and have their licenses reinstated thereafter will also be liable for the full levies within 30 days of lifting of the suspension.
Failure to pay levies may result in suspension and ultimate withdrawal of a license.
The FSCA will send invoices with payment details to all FSPs during September 2018.
All queries about the levies, including not receiving invoices, must be directed to the FSCA’s Finance Department at faislevies@fsca.co.za

SUMMARY FOR CATEGORY 1 FSPs

DESCRIPTION	2017	2018	INCREASE	%
FSCA base amount	R3182-00	R3373-00	R191-00	6%
Per KI and representative	R508-00	R538-00	R30-00	5.9%
FAIS Ombud base amount	R947-00	R1023-00	R76-00	8%
Per KI and representative	R360-00	R390-00	R30-00	8.3%

PLEASE ENSURE THAT THE FSCA HAS YOUR CORRECT E-MAIL ADDRESS.

Please click here for the levies notice.

FIA regards,

Joe Kotzé – National Manager: Compliance

Tel: 087 945 5381

E-mail: joe@fia.org.za

Distributed by:

FIA Communications

Tel: 012 665 0085;

Fax: 012 665 0534;

Web: www.fia.org.za

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