industry news
Appointment process at FSCA reviewed – Interim Commissione …
The Minister of Finance has published amendments to the Financial Sector Regulations in terms of sections 61(4), 288 and 304 of the Financial Sector Regulation Act No.9 of 2017 (FSR Act). “… weaknesses in the regulations have delayed the process to complete the appointment process, and necessitated amendments to the regulations,” the statement reads. The […]
best practice
COVID-19 impact – Extension granted for certain compliance …
In response to the impact of COVID-19 and the nationwide lockdown on South Africa in general, and the financial services industry specifically, the Financial Sector Conduct Authority (FSCA)announced various extensions. These include the Financial Markets Act as well as Conduct of Business returns. Financial Markets Act of 2012 FSCA Communication 40 OF 2020 (FM) states […]
technologically speaking
Fintech Vision for South Africa – Progress update and Covi …
Earlier this year, the Intergovernmental Fintech Working Group (IFWG) Innovation Hub was launched to respond to changes in the financial sector driven by financial technology (fintech) and to promote responsible innovation in the sector. One of the recent deliverables of IFWG is a document that provides a forward looking, high-level vision for South Africa’s Fintech […]
compliance and legislation
Key Individual Refresher Workshop – Bookings for Johannesb …
As a Key Individual, you are accountable for ensuring compliance with all relevant legislation applicable to your business. Keeping abreast of new regulations and changes to existing ones is indeed a formidable task, given the challenges of just keeping your practice afloat in these challenging times. Moonstone regularly offers Fit and Proper for Key Individual […]
Stokvels – Primary means of saving for many South Africans
Ask Afrika is conducting independent research on an ongoing basis to understand the socio-economic impact that the Coronavirus, lockdown and gradual reopening of the economy has on South Africans. The latest results show that during advanced level 3 of the lockdown, citizens have been mindful of their spending, with half having to borrow money to […]
Life stages and Life spans are changing – Financial Advise …
“We are all at a crossroads and needing to reimagine our future. Several macro trends were already in play before COVID arrived and this has just escalated the conversation and the need to act,” Lynda Smith, CEO of 50plus Skills mentioned at a recent COVID-19 webinar hosted by 50plus Skills and sponsored by Just Retirement […]
Contingent Business Interruption – FSCA seeks declaratory …
Further to previous publications by the Financial Sector Conduct Authority (FSCA) on the problematic issue of Contingent Business Interruption (CBI), the Authority has now published details of its letter to non-life insurers on the matter. The insurers have expressed concerns with regard to “…arbitration proceedings, the ambit of existing court proceedings and rulings and possible […]
Vehicle recall scam alert – How it works
The Insurance Crime Bureau (ICB) previously issued a vehicle recall scam alert following a significant increase in the number of cases. It seems that this scam is still active and here is some important information on how it works: 1. A person posing as an employee of a vehicle manufacturer or dealership (referred to as […]