The FSP Annual Compliance Report
Every licensed South African FSP must submit an Annual Compliance Report to the FSCA by 15 September, covering the reporting period that ends on 31 May. This is a plain-English guide to what it contains, how to submit it, and what happens if it’s late.
What is the FSP Annual Compliance Report?
The FSP Annual Compliance Report is the statutory return every licensed FSP must submit to the FSCA each year, evidencing that the FSP has met its FAIS, FICA and POPIA obligations over the reporting period. It is the single most-scrutinised annual FSP filing and, together with annual financial statements, drives the FSCA’s view of the FSP’s compliance health.
When is the annual compliance report due?
The Annual Compliance Report is due to the FSCA by 15 September each year, covering the reporting period that ends on 31 May. Late submission is itself a breach; extensions are rare and must be motivated in writing. Getting the September deadline right is what "stay compliant" ultimately means for a licensed FSP.
What period does the report cover?
The report covers the year ending 31 May — so the September 2026 submission covers 1 June 2025 to 31 May 2026. The 15-week window from 1 June to 15 September is when the CO or accountable KI collates evidence from the monthly compliance cycle and files the return.
Who submits the annual compliance report?
The approved Compliance Officer submits the Annual Compliance Report on behalf of the FSP. Where the FSP operates without a separate external CO, the accountable Key Individual submits it. The KI countersigns in either case, taking personal accountability under FAIS.
What does the annual compliance report contain?
The report is structured to the FSCA Omni-CBR return: FSP identity and licence categories; KI, CO and rep register with fit-and-proper status; compliance monitoring plan and tests completed; Section 17 irregularities in the period; complaints register summary; RMCP status and FICA reporting compliance; TCF outcomes evidence; PI insurance and financial soundness attestations. Every item requires supporting evidence retrievable within 7 days for inspection.
How is the annual compliance report submitted?
The Annual Compliance Report is submitted on the FSCA online portal via the Omni-CBR return. The CO logs in with their FSCA credentials, completes the structured return, uploads any supporting documents, and submits. RegDesk generates the underlying evidence pack aligned to the return’s section structure.
What happens if the report is late?
Late submission is a breach of the FAIS Act. The FSCA can impose an administrative penalty, issue a directive to remedy, and in serious or repeated cases, suspend or withdraw the FSP’s licence. Late or missing Annual Compliance Reports are one of the most common triggers for FSCA on-site inspection.