FSCA Extends Five Key FAIS Exemptions to 30 June 2029

The Financial Sector Conduct Authority (FSCA) has extended the expiration date of five existing rule exemptions to June 30, 2029.

Below is a summary of what each underlying exemption actually covers:

FAIS Notice 39 of 2026 — Private Equity Funds

The original Notice (Board Notice 208 of 2012) provided private equity managers with some exemptions. It exempts them from certain standard rules— like a risk-disclosure requirement on older mandates and certain liquidity requirements. This new Notice confirms that the exemption is  extended accordingly.

FAIS Notice 40 of 2026 — Compliance Officers and Visit Intervals

The original Notice (FAIS Notice 119 of 2017) set out new intervals for Compliance Officers and visits to their FSPs. Instead of following a strict, fixed schedule for compliance visits, compliance officers can check on businesses based on their actual risk levels. This new Notice confirms that the exemption is  extended accordingly.

FAIS Notice 41 of 2026 — Underwriting Managers and Section 13 Guarantees

The original Notice (FAIS Notice 122 of 2017) excuses underwriting managers from needing to buy their own professional insurance or guarantees. Since they already operate under a larger insurer's rules and risks, forcing them to get their own insurance would be repetitive. This new Notice confirms that the exemption is  extended accordingly.

FAIS Notice 42 of 2026 — Section 19(3) Audit Report and Liquidity Requirements

The original Notice (FAIS Notice 123 of 2017) set out requirements for FSPs whose only job is collecting insurance premiums. These FSP’s don't have to provide a specific, separate auditor's report every year, and they are exempt from certain cash-on-hand rules. They just need a written agreement and annual confirmation from the insurer they work for. This new Notice confirms that the exemption is  extended accordingly.

FAIS Notice 43 of 2026 — Juristic Representatives and Section 13(1)(c)

Usually, a representative must do business under the main FSP's name. The original Notice (FAIS Notice 15 of 2021) allowed an exemption to certain companies (like premium collectors acting for an insurer) to do business and collect funds under their own name, as long as they have a written mandate. This new Notice confirms that the exemption is  extended accordingly.

The Bottom Line

There are no new rules being introduced. If financial service providers (FSPs) already use these exemptions, they can keep using them, but they must continue to meet the original conditions.

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