Our website has detected that you are using an outdated browser that will prevent you from accessing certain features. An upgrade is recommended to improve you browsing experience.
3
Financial Conglomerates
The Financial Sector Regulation Act 9 of 2017 (FSR Act) creates an enabling framework for the regulation and supervision of financial conglomerates in South Africa. The forms relating to applications and notifications required in terms of the FSR Act and Prudential Standards for Financial Conglomerates are published below:
| Form number | Description | Reference |
| FC001 | Application for approval of auditor(s) for the holding company of a financial conglomerate | Prudential Standard FC03 |
| IF006 | Approval or notification of the appointment of key persons | Paragraph 29.1 - Prudential Standard FC04 |
| BA | Application for outsourcing – special outsourcing arrangements | Paragraph 30.5 – Prudential Standard – FC04 |
| IF013 | Notification to outsource a material business activity | Paragraph 30.6 Prudential Standard FC04 |
| IF018 | Approval for exemption to provide an ORSA/ICAAP report | Paragraph 20.14 - Prudential Standard FC04 |
| IF021 | Approval to affect material acquisitions or disposals | Paragraph 18.1 - Prudential Standard FC04 |
| IF046 | Notification of major disruption to risk profile | Paragraph 23.5 - Prudential Standard FC04 |
| IF054 | Notification of a key person who no longer satisfies the insurer’s requirements for fit and proper | Paragraph 28.5 (a) Prudential Standard FC04 |
| IF064 | Approval to appoint a chairperson who is not an independent director | Paragraphs 8.5(b), 8.6(b), 8.8 - Prudential Standard FC04 |
| IF072 | Notification of the termination of the appointment of a key person | Paragraph 29.3 Prudential Standard FC04 |
| NSO001 | Notification change in circumstances that may affect the fit and proper status of a key person | Paragraph 28.5(b) Prudential Standard FC04 |
| No form– a motivating letter must be sent to the PA | An application for approval of non-executive director before 12 months cooling off period | Paragraph 8.8 – Prudential Standard FC04 |
| No form – a motivating letter must be sent to the PA | An application for exemption to establish board committees by an eligible financial institution owing to the Holding company’s subcommittees covering these functions | Paragraph 11.5 – Prudential Standard FC04 |
