Court tells SARS: A deal is a deal
A High Court ruling confirms that SARS must honour lawful settlement agreements and cannot rely on internal systems or administrative hurdles to escape binding terms.
Author: Schalk Joubert
Behavioural finance insights essential in current climate to build trust between Investor and Advisor
A while ago, news headlines carried stories regarding the unfortunate CLICKS Tresemme advertisement. This whole incident caused reputational and financial damage for both CLICKS and Tresemme and financial damage for many other stores […]
The pros and cons of AI
As South Africa emerges from what is proving to be one of the most stringent of lockdowns globally, advisers are faced with a number of challenges. Technology changes and a contracting economy add […]
Draft PIC Public Compliance Communication 12A – Guidance on outsourcing of compliance activities to third parties
The Financial Intelligence Centre (FIC) is calling for comments from accountable institutions, reporting institutions, supervisory bodies, and other persons on the draft Public Compliance Communication 12A (draft PCC 12A). The draft PCC 12A […]
Mindfulness – a way of dealing with the heightened anxiety of current times
In January 2020, the World Health Organisation confirmed that the coronavirus is a public health emergency of international concern. Not only the daunting health implications of the virus, but also the physical restrictions […]
Joint Communication 2 and 2A of 2020 – Further clarity for AIs on submission of their required action plan
Joint Communication 2 issued on 21 April 2020 sets out the Financial Sector Conduct Authority (FSCA), South African Reserve Bank, Prudential Authority (PA) and Financial Intelligence Centre (Authorities) position concerning the COVID-19 pandemic […]
Joint Communication 2A of 2020 – Clarity for AIs on customer due diligence
A communication issued on 21 April 2020 sets out the Financial Sector Conduct Authority (FSCA), South African Reserve Bank, Prudential Authority (PA) and Financial Intelligence Centre (Authorities) position concerning the Covid-19 pandemic and […]
Choosing an engagement platform – Just follow 4 simple steps
Welcome to Corona 2020 where, if you’re not virtual, you’re nowhere. It’s a brave new world – a 30 second walk to the ‘home office’ area clutching a mug of coffee has replaced […]
Covid-19 – Supervisory response
Joint Communication 2 of 2020: COVID-19 Supervisory response, addressing various aspects under the FIC Act, was published last week. The communication confirms that there will be no relaxation of the Accountable Institutions (AIs) […]
Working from Home – Practicing sensible cyber security is essential
While healthcare workers are battling the COVID-19 virus, countries are in lockdown mode, and the global economy hangs in the balance, another war is raging in cyberspace. Risks to systems, data and communications […]
COVID-19 – Regulatory response to immediate priorities
A recent Joint Communication sets out the responses by the Prudential Authority (PA) and the Financial Sector Conduct Authority (FSCA) to the COVID-19 pandemic as well as the observed and predicted impacts it […]
Performance of essential financial services – Guidance for call centres
The FSCA and the Prudential Authority (PA) issued a joint guidance note to provide further clarification regarding Call Centre Directions issued by the Minister of Health and the Minister of Trade, Industry and […]
Prioritise your projects – Stop some to get more done
Trying to figure out how to complete more projects and initiatives? To do this, you actually need to stop a lot of the projects you are already doing and instead focus on a […]
Lockdown restrictions – Remember to look after your body
Only in a healthy body lives a healthy mind! Few would disagree with this age-old adage … with Covid-19 restrictions in place however, it has become super easy to neglect this sage advice. […]
Financial Soundness Requirements – Exemption of FSPs and Juristic Representatives from certain obligations
FSCA FAIS Notice 21 of 2020 Notice contains exemptions from sections 45(2), 48(1) and 48(2) of the Determination, as applicable, for the period 1 April 2020 to 31 March 2021. The extent of exemptions: ● Category I FSPs […]
Investment policies to medical schemes – Exemption proposed for insurers
The FSCA has published Communication 17 of 2020 to inform stakeholders that a draft general exemption has been published for further comment. Due to the different meaning attributed to the term “fund” brought […]
Your practice in isolation – decide what role you want to focus on
According to Donald Miller of Business Made Simple, there are 4 main roles people gravitate towards in a crisis Victim, Hero, Villain or Guide. Once we become aware of what those are, we are better […]
