Subject Title - INSETA

Enforcement Departmentis responsible for the interaction between the FAIS Division and the FSBEnforcement Committee. This interaction includes the preparation of mattersthat the registrar of Financial Services Providers deems necessary to refer forpossible administrative sanction.In support of the function of „enforcement‟, the Registrar has the authority toconduct on-site visits to verify the state of compliance.7.1.2 Profile changesYou know by now that whenever there are changes in the informationrelating to the FSP, submitted during the application, the FAIS Departmentmust be notified within 15 days of such changes – these changes are referredto as:Profile ChangesKey individuals must ensure that there are adequate processes in place tomanage completion and submission of the relevant forms. Each profilechange requires a fee to be paid to the FSB.Summary of profile change forms:Form number Description of formFSP 1Business Information of Financial Services ProviderFSP 2Licence categoriesFSP 3Directors, officers and applicable shareholdersFSP 4Key individualsFSP 5RepresentativesFSP 6Compliance officer of FSPFSP 7Operational abilityFSP 8Financial soundnessFSP 9External auditorFSP 10A Shareholders, directors or trustees of the nomineecompany or independent custodianFSP 13Application for the approval of a compliance practiceand/or officer (separate form)FSP 14AAttachments, list of all completed forms and declarationsFSP 14BCalculation of application fee if applying directly to the FSB7.2 AWARENESS OF THE REGULATORY UNIVERSE© INSETA - Section 1 12a 127