Subject Title - INSETA

Failure to ensure that a Failure to ensure that therepresentative acts on behalfof an authorised FSP or anexempted FSPFSPs representatives and keyindividuals of representativesare fit and proper or failure– and failure to ensurethat a representativeto comply with therequirements forprovides adequatereappointment afterinformation to provehis/heragreement/mandatewith an FSPor failure to ensure that a debarreddebarment as well as failureto ensure thatrepresentatives comply withapplicable codes and laws onconduct of business –representative's reappointments.13(2).meets the requirements of the Act –s.13(1).Failure to debar a representative asdescribed in s. 14(1).Failure to submit compliance reportsto the Registrar – s.17(4).Failure to maintain and keep records Failure to have the financialas required in s. 18.statements audited and reportedwithin four (4) months as required ins. 19(2).Failure by an external auditor toreport any irregularity/suspectedirregularity in the conducts of theaffairs of the FSP as required in s.19(4).Carrying on with business as an FSP Failure to rectify the effects of anafter the Registrar declared the undesirable practice within 60 days ofbusiness an undesirable practice –s.34(4).being ordered to do so by theRegistrar – s.34(6).Deliberately making a misleading, false or deceptive statement, or concealsany material fact with regard to anything relating to the Act. S.36(b)Giving an appointed auditor or compliance officer information which is false,misleading or conceals any material fact in the execution of duties imposedby this Act. s.36(c)Pretending to be an appointed or mandated representative of a licensed FSPwhen providing financial services to clients. s.36(d)© INSETA - Section 1 12a 201