Attention to all entities in the financial sector: The Financial Services Transformation Council (FSTC) has recently issued Reporting Notice 1 of 2023. This notice is particularly crucial as it pertains to the submission of Broad-Based Black Economic Empowerment (B-BBEE) compliance reports. These reports should cover the period from December 1, 2021, to November 30, 2022.
All entities active within the financial sector are obligated to forward their respective B-BBEE compliance reports for the above-mentioned period to the FSTC. The deadline for this submission is set for October 13, 2023, by the close of business.
To facilitate a seamless reporting process, entities are advised to send their reports via email to firstname.lastname@example.org. The email subject line should read as follows: ‘FSTC 2021/22 Reporting – [Name of Entity].’ In addition to the report, an online CEO questionnaire must also be completed as part of the compliance requirements.
The issuance of this notice by the FSTC underlines the sector’s commitment to tracking and promoting black economic empowerment. It serves as a vital measure in enhancing inclusivity and equity within the financial services landscape.
Entities are strongly encouraged to adhere to these guidelines and submit their reports in a timely manner. The compliance requirements serve as more than mere formalities; they are integral to shaping a more equitable financial sector.
Your attention to this important matter is greatly appreciated.