SCA clarifies pawnbroker’s rights to proceeds from asset sales
The judgment addresses several aspects of the National Credit Act, including the obligation to register as a credit provider and permissible interest charges.
Author: Moonstone Information Refinery
Dismissal may void restraint of trade, says Labour Court
A recent judgment suggests employers may lose the right to enforce restraints of trade when they terminate staff for misconduct.
Updated POPIA compliance: data breach reporting must be online
From 1 April, all security breaches must be reported solely via the Information Regulator’s online portal, not by email.
FSCA confirms first-day calculation for late-payment interest
The revised interpretation, which reverses the Authority’s earlier guidance, aligns with the Office of the Pension Funds Adjudicator’s view.
Updated regulatory framework aims for ‘fair customer outcomes’ in pension administration
The Conduct Standard outlines a series of updated requirements for benefit administrators, including governance enhancements, risk management protocols, and processes for ensuring fair outcomes for fund members and beneficiaries.
Proposed private security regulations ‘require risk assessment, not disarmament’
PRISA’s chief executive says the proposed amendments focus on evaluating the necessity of using certain weapons through a mandatory risk assessment process
Judgment clarifies approval of director appointments under the Insurance Act
The High Court confirms a Tribunal decision that the appointment of directors of insurance companies can be regularised retrospectively. It underscores that section 14 of the Insurance Act does not require the Prudential Authority’s pre-approval.
Court backs FST’s decision to scale down penalty for insurance breach
The judgment confirms that the Tribunal acted within its authority when it reduced a penalty imposed by the Prudential Authority on two state-owned insurers.
Labour Court applications go fully digital
The transition to mandatory online filing aims to streamline case initiation, improve document management, and enhance accessibility for all parties involved.
‘Investment scheme’ falsely claims ties to Kallie Kriel and Steve Hofmeyr
The FSCA also warns of scammers impersonating 10X Investments, Prescient, Compsure Insurance, and Viviers Brokers.
No RMCP, no excuse: FSCA fines three FSPs a combined R735 000
One of the sanctioned FSPs says it’s important to request virtual meetings with the FSCA after each feedback round to ensure all compliance expectations are met.
Proposed regulations ‘will severely hamper’ security firms’ ability to operate
Critics say the rules on firearm use and ammunition limits will make it difficult to protect lives and property effectively.
Tribunal sets aside debarment, citing inadequate notification
The FSP used an email address it obtained from a credit bureau, but the rep denied this address belonged to her.
Updated lists of qualifications for FSPs and representatives released
The FSCA’s latest Notice of the recognised qualifications replaces previous notices from 2021 and 2023.
FIC maps the money laundering, terror financing risks facing SA’s crypto sector
The report outlines the CASP sector’s vulnerabilities and provides guidance on how enhanced compliance and improved risk management can help to safeguard the industry.
Private credit’s rise: South Africa’s growing role in a $3 trillion market
Industry leaders at the SAVCA Private Equity Conference unpacked the evolution of private credit, its opportunities, and South Africa’s place in global markets.
FSCA probes complaint processes amid surprisingly low filing rates
A survey shows that only 8% of consumers lodged complaints with financial institutions between 2021 and 2023. Does this figure reflect genuine satisfaction or signal barriers in the complaint process?
