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Author Archive | Janine Geldenhuys

transactions

Proposed new FICA regulations – Changes to international and cash transactions

Changes to international and cash transactions National Treasury recently invited public comments on draft regulations on international financial transactions in terms of section 31, and amendment of regulations on cash transaction reporting and aggregation in terms of section 28 of the Financial Intelligence Centre Act 38 of 2001 (FIC Act). According to National Treasury, the proposed […]

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regulations

Default regulations for retirement funds – Applicable from 1 March 2019

The Minister of Finance issued the Default Regulations with effect from 1 September 2017. The Default Regulations prescribe conditions for default investment portfolios, default preservation and portability, and annuity strategies for funds. All new default arrangements that came into operation on or after 1 September 2017 must comply with the requirements set out in the Default Regulations. Existing default […]

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Cyber-Security

AON Cyber Risk Report – Focuses on eight specific risk areas for businesses

Aon, the leading global professional services firm providing a broad range of risk, retirement and health solutions, has released its 2019 Cyber Security Risk Report, which details the greatest cybersecurity threats industries are facing. The report notes that as companies continue to use technology to speed up the transfer of information, game-changing business opportunities are […]

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F&P-Manager

Manage your Fit and Proper Obligations

Having to interpret and navigate through the endless collection of Board Notices, Circulars and Guidance Notes which regulates the requirements associated with either being approved as a Key Individual, appointed as a Representative, or authorised as a Sole Proprietor, has become a specialist role. Ask anyone attempting to stay up to date by means of […]

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FAIS-Ombud-Settlements

FSCA fines Product Provider R30 000

– Timely warning to industry about new advertising regulations Section 106(a) of the Collective Investment Schemes Act No.45 of 2002 states: No person may make a statement or disseminate information which he or she knows, or ought reasonably to know, is false or misleading or is likely or intended to – a) Induce other persons […]

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