Supervision Agreement Fsca

Under the transitional provisions, representatives appointed under supervision before 1 February 2019 have until 1 February 2020 to meet the training requirements of companies. This derogation will enter into force on 1 February 2019, with the exception of certain conditions set out therein. The FSCA FAIS Notice 86 of 2018 now offers clarification on business class requirements for supervised salespeople, as described in the Fit and Proper Determination. It also facilitates regulatory controls for representatives currently working under supervision with respect to the new deadlines. Important definitions In summary, it is essential that PSPs, whose representatives act under surveillance, as well as representatives working under surveillance, become familiar with the new surveillance communication. Those who only provide financial services for Tier 2 products or who perform only distribution functions are exempt from R. . . .

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