Bulk move by industry to be legal

Freight forwarders respond well to FAIS requirements Kevin Mayhew The country’s thousands of freight forwarders that offer and collect payment for insurance for freight have responded well to the new requirement that they become registered with the Financial Services Board (FSB). In terms of the existing deadlines, applications for registration should have been in by Saturday, July 31. About 12 000 companies were estimated to be affected by implementation of the Financial Advisory and Intermediary Services Act (FAIS) provisions, according to senior analyst, registration, of the Financial Services Board, Michelle Sewchuran. Sewchuran could not give a figure for the number of registrations completed but confirmed that about 12000 registration numbers had been issued by its dedicated Pretoria call centre. Affected companies had until Saturday 31 July to begin the process for To page 3