SuperSpark reminds all IDA Risk Management Mandated Members that it is levy time again.

The Finance Department of the Financial Services Board will download statistics from the FAIS Registrar’s database to determine the FSP’s liability towards payment of the annual FSB FAIS and OMBUD levies, this “snap-shot” of the register will be taken as at the 31st of August 2017.

With reference to Paragraph 8. iv and v of your Mandatory Agreement:

“it is recorded that annual levies are imposed on the FSP by the Financial Services Board and the office of the FAIS Ombud, and that a portion of such levy amounts calculated on a pro rata basis will be recovered from the representative….”

We will be running the additional debit orders for this expense after we have received the invoices and the statement from the FSB and Ombud. This is normally in October and we will notify you accordingly.

I wish you all good luck and many deliveries.