industry news
Sanlam’s Benchmark Survey 2019 – Are South Africans fina …
According to Jocelyn Hathaway, Acting CEO of Sanlam Employee Benefits, Sanlam’s Benchmark survey this year included a deep dive into the concept of financial resilience, which is essentially the ability of individuals and corporates to withstand the financial impact of a downturn in the economy. In the foreword of the research results she mentions that […]
best practice
Debarment – 3 critical steps to comply
The FSCA’s Guidance Notice 1 of 2019 clarifies the requirements for debarment as described in Section 14(3) of the FAIS Act with which an FSP must comply when debarring a person. It is important that these requirements should be contained in an FSP’s policies and procedures governing its debarment process. The Guidance Notice shares the […]
technologically speaking
Fintech is the ‘new normal” – More than half of th …
More than half of banking and financial services customers around the world use fintech products and services, according to a new global poll carried out by deVere Group. Of the 883 customers surveyed across Europe, Asia, Africa, Latin America and Australasia, 55% said that they “regularly use financial technology to access and manage their money”. […]
compliance and legislation
Treating customers fairly – FSP shows commitment in recent …
“The Office of the FAIS Ombud is committed to resolving complaints in a procedurally fair, informal, economical and expeditious manner, with reference to what is equitable in all circumstances. In this vain, the FAIS Ombud always explores every available avenue to resolve a complaint between the parties on an informal basis, without the need to […]
Ten megatrends identified by Benchmark Survey – What is sh …
“The Sanlam Benchmark research is about asking and answering questions to spot the megatrends shaping our lives”, Viresh Maharaj, Chief Executive of Sanlam Corporate Sales and Marketing pointed out at the release of Sanlam’s 2019 Benchmark Research – the group’s annual retirement research. Here are the ten megatrends identified in this year’s Report: 1. Governance […]
The High Court rules in favour of the NCR – Credit Provide …
“Banks should obtain permission from consumers before transferring funds from consumers’ accounts to pay amounts due under credit agreements”, Nomsa Motshegare, Chief Executive Officer of the National Credit Regulator (NCR) commented after a High Court ruling in Johannesburg last week. The High Court in Johannesburg ruled in favour of the NCR against Standard Bank that […]
Collective effort required to curb fraud – Institutions, l …
Crime syndicates are opportunistic and continually adjust their tactics to take advantage of any opportunities to get their hands on bank client’s money be it via a cash robbery, stolen card data or solicited confidential information. This was one of the views of SABRIC, the South African Banking Risk Information Centre, with the release of […]
COFI Act: A progressive approach to regulating an industry
In a recent African Unity media release, Chief Legal and Compliance Officer at African Unity, Johan Ferreira explains that the COFI Act is also supportive of financial inclusion for all South Africans, a principle that is backed up by National Treasury’s explanatory paper accompanying the COFI Bill. He shares that the paper stresses the role […]