Tribunal: FSCA cannot impose joint-and-several penalties under section 167
The FST says the factors in section 167 of the FSRA are individual in nature and must be assessed in determining the appropriate penalty for each person.
Compliance and Legislation
Tribunal halves former trader’s market-manipulation penalty
The FSCA improperly allowed cost-recovery considerations to influence the sanction and did not assess the applicant’s financial benefit separately from his client’s.
Tribunal upholds JSE censure of Mantengu over delayed cautionary
The company should have acted in June 2023 when it suspected that confidential information about a R100-million acquisition had been compromised.
SCA settles uncertainty over deductibility of raising fees
The majority judgment confirms that raising fees can qualify as finance charges similar to interest, potentially reducing the after-tax cost of debt funding.
Wrong email address leaves FSP unable to pursue debarment
The Tribunal found that proceedings had not commenced before the six-month deadline, preventing it from sending the matter back for reconsideration.
Dishonesty not required for debarment on integrity grounds
The Tribunal found that a serious breach of the duty to protect confidential client information can establish unfitness even where no misuse or harm is proved.
When one dishonest act is enough for debarment
The Tribunal weighed the representative’s clean record and lack of personal gain against her deliberate falsification of a client’s investment instruction.
FICA penalties for three financial institutions total R35.6m
The sanctions against Capitec, Ninety One Assurance, and Albaraka arose from inspections conducted between 2021 and 2023.
Trust filing season: Key dates and requirements for the 2026 returns
The enhanced ITR12T will draw on third-party data, while SARS steps up scrutiny of nil returns, passive assets, and assessed losses.
Standards will usher in fuller reporting on fund finances, investments, and ESG
Retirement funds will face expanded annual and quarterly reporting, while boards remain responsible for setting ESG mandates and overseeing how asset managers implement them.
Three FSPs sanctioned over FICA compliance failures
The sanctions cover a range of shortcomings, from deficient RMCPs and customer checks to sanctions screening, registration, and failures to provide information.
FSCA withdraws My Wealth Dias penalty and Coetzee debarment
The regulator will refer Banks Act findings to the Prudential Authority and reconsider action against Charl Coetzee in light of additional information.
FIC revises annual RMCP deadlines in final Directive 12
The affected institutions face October deadlines, while the consultation feedback provides guidance on how the requirement applies in practice.
New IT and cyber incident reporting template now in effect
The reporting framework requires financial institutions to assess materiality promptly and provide regulators with information even while an incident is being investigated.
Health insurance benefit increases for 2026 published
The annual benefit escalations for policies that fall under the Demarcation Regulations.
Information Regulator sounds alarm over data breaches
The Regulator highlights the scale of security incidents, direct-marketing concerns, enforcement cases, and weaknesses in the legislative framework.
A paradigm, not an upgrade: Understanding the socio-technical shift of agentic AI
The emergence of AI systems capable of planning and acting autonomously presents a governance challenge that cannot be addressed simply by treating them as more advanced technological tools.
