All RE5 questions
FAIS Act FAIS Act and Subordinate Legislation
Once the Registrar has declared a business practice 'undesirable' by Gazette notice, how long does an affected FSP generally have to cease it?
RE5 practice question with a worked answer. This is one of hundreds of FSCA RE5 questions in the RegulatoryExams question bank.
- a) A 60-day period from publication to stop the practice and wind up affected matters.Correct
- b) No time at all — it must already have stopped before publication.
- c) A flat 24 hours from publication.
- d) An open-ended period decided solely by the FSP.
Why this is the answer
After an undesirable-practice declaration is published, the Act allows a 60-day period to cease the practice and conclude affected client matters in an orderly way. It is neither retroactive nor open-ended.
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