The B-BBEE Reports for the 2022/2023 measurement period in accordance with Section 10 (4) of the B-BBEE Act 53 of 2003 and Statement FS 000, Paragraph 8.4 of the Financial Sector Code (FS Code) requires for each entity conducting business in the South African financial sector to report annually to the Financial Sector Transformation Council (FSTC) on its progress in implementing the provisions of the Financial Sector Code.

In order to comply with the provisions ofthe Financial Sector Code, the FSTC is requesting submission of the annual reports together with the CEO questionnaire [2022/23 State of Transformation Annual Report CEO Questionnairel] by all reporting entities by Friday, 28 June 2024.


In terms of the reporting the following will be required:

1. Exempted Micro Enterprise (Turnover > R10 million) [Affidavit 2] + Completed CEO questionnaire by all reporting entities.

2. Qualifying Small Financial Institutions (QSFIs) (Turnover more than R10 million but less than R50 million). [Affidavit 2] + Completed CEO questionnaire. The QSFIs that are NOT level 1 and 2 will have to be verified and obtain a verification certificate from a verification agent to confirm their B BBEE Status + Completed CEO questionnaire by all reporting entities.

Where a verification report is required we recommend that the FSP start the process sooner rather than later as such reports can take up to 6 weeks to complete. CRUX have partnered with Amax Verification Agents to assit here; should you require a B BEE verification report kindly feel free to contact us should you need further assistance.

3. Generic Entities (Turnover <R50 million) B-BBEE verified Certificate Sworn affidavit and B-BBEE verified Scorecard + Completed CEO questionnaire by all reporting entities.

To ensure compliance with the Financial Sector Code, the FSTC hereby requests the submission of the documentation, adhering to the requirements as above and determined in the FSTC reporting notice 1 of 2024.

The aforementioned documentation pertaining to the measurement period encompassing from 01 December 2022 to 30 November 2023 must be submitted no later than the close of business on Friday, 28 June 2024.

All reports should be transmitted electronically via the designated mail: reporting@fstc.org.za with a
subject line:

FSTC 2022/23 Reporting — NAME OF ENTITY.

The Financial Sector Transformation Council (FSTC) solemnly pledges to uphold the utmost confidentiality in handling all the information provided in accordance with its policies. Should

https//fstc.org.za/Documents/councf0343908-b8a9—4531-8b2d-a419087af619FS_Code_Sworn_Affidavit_1_-_B-BBEE_Exempted_Micro Enterprise.pdf

https://fstc.org.za/Documents/councdd7fbb2d-84e3—4ede-a1f1-30e8c7cbbe78FS_Code_Sworn_Affidavit_2_-_B-BBEE_Qualifying_Small_Enterprise.pdf you have any inquiries or require further assistance regarding the submission process, please contact the FSTC at reporting@fstc.org.za or call (087) 062 5950 for assistance.

CRUX Compliance Practitioners (C03485)