Variation of Licence issued under Financial Advisory and Intermediaries Act

Posted on June 18, 2018

Variation of Licence issued under Financial Advisory and Intermediaries Act

If you have been on the FSCA website lately you may have noticed that the categories on your licence seem somewhat different. This is as a result of the changes that have been brought about with the publication of Board Notice 194 of 2017.

In short, if you were licenced for Licence category – Short Term Insurance Personal Lines, Long Term Insurance subcategory B1 and Long-Term Insurance Category B2 on 1 April 2018, then your licence would automatically have been amended to include the new categories as follows:

The Act further requires that we update your Representative Register in order to link the relevant representatives to the corresponding products.

In order for us to ensure a smooth process please take note of the process described below and follow the steps set out in order for us to assist in linking the correct reps to the relevant products.

Please complete the attached spreadsheet with each representative and Key Individuals information, this must ONLY be the representatives and Key Individuals who are eligible to be registered for these new categories. Once you have completed the spreadsheet please email this document to courtney@assent.co.za for these profile changes to be action with the FSCA.