As part of their ongoing obligations, all domestic funds and intermediaries were required to submit online questionnaires for the FSC to access their risk profile in terms of their compliance with the relevant legislations.

A Risk Impact Assessment was carried out and all regulated companies were regrouped into five separate impact categories based on the level of risks which a company can cause to the financial system.

The implementation of the RBS framework is an effective tool for the FSC and contributes towards strengthening the supervisory monitoring of the Commission in terms of early warning detection of high risk impact companies.

Supervisory measures taken by the FSC will correspond to the impact category of the company. The higher the risk posed by the company, the more rigorous will be the level of intervention of the Commission. Measures taken will involve reviews, inspections and the level of the FSC’s intervention will depend on the company’s impact rating or scoring.