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Record Keeping Comply with regulated record keeping requirements
The FSP must ensure all required records are available for inspection by which regulatory body/person?
RE5 practice question with a worked answer. This is one of hundreds of FSCA RE5 questions in the RegulatoryExams question bank.
- a) The Product Supplier.
- b) The local municipality.
- c) The FSCA (or a person appointed by the FSCA).Correct
- d) The client's family members.
Why this is the answer
The FAIS Act (Sec 18(1)) explicitly states that records must be maintained and made available for inspection by the FSCA (the Authority) or a person appointed by the Authority (e.g., an auditor or inspector).
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