FST draws the line between suspicion and proof in adviser’s debarment case
The decision examines why client complaints, cellphone records, and handwriting evidence failed to establish dishonesty on a balance of probabilities.
Compliance and Legislation
FIC warns of penalties after poor RCR compliance
Less than half of the first group of accountable institutions had submitted their returns by mid-July, while submissions from the second group are low.
Minister approves draft regulations for virtual affidavits
The proposed framework would allow affidavits to be commissioned remotely through live audiovisual technology.
The hidden compliance risks behind DOFA, onboarding and supervision
Moonstone’s Paull Lawrence shares practical insights on why DOFA is far more than an administrative record, and where hidden compliance risks can emerge for FSPs.
Don’t let COFI ‘scare stories’ distract you from what’s really changing
‘Continuous disclosure’ offers a practical way to understand the framework’s broader shift towards customer outcomes, says Moonstone’s Billy Seyffert.
Poor sales process alone does not justify debarment
The Tribunal held that procedural shortcomings must be distinguished from conduct showing a representative lacks honesty and integrity.
Internal record manipulation can justify debarment, Tribunal finds
Five related decisions involving former Pineapple reps illustrate how misconduct affecting internal operational records may engage the honesty and integrity requirements.
Tax uncertainty clouds offshore trust distributions
Practitioners warn that applying section 7(8) to cross-border trust distributions could create onerous and potentially perpetual tax and compliance consequences.
Parliament calls for comment on AML/CFT reform Bill
Stakeholders have until 10 August to comment on proposed amendments aimed at strengthening South Africa’s financial crime framework.
Registration closes on Monday for Moonstone’s Regulatory Update Webinar
With COFI on the horizon, the webinar will unpack its practical implications alongside key regulatory, enforcement, and FICA developments.
Retiring broker’s move to rival FSP was not dishonest, Tribunal finds
The source of an obligation does not determine whether disputed conduct amounts to genuine fit-and-proper misconduct.
Retirement fund arrears rise to R8.33bn despite R1bn in recoveries
Late-payment interest now accounts for almost half of arrears, suggesting unpaid contributions are remaining outstanding for longer.
COFI at the heart of FSCA’s 2026 regulation plan
The Authority’s three-year roadmap also outlines upcoming reforms affecting financial markets, retirement funds, payment services, and cross-sector regulation.
SARS draft guide sets out tax implications for crypto transactions
Crypto users may trigger tax consequences through swaps, staking, mining, payments, employment benefits, or donations, even where no rand conversion takes place.
FSCA highlights common CASP compliance failures
The regulator reports steady progress in licensing while sharing lessons from its AML inspections of authorised providers.
Compliance officer visit exemption continues
Compliance officers may continue using a risk-based approach to determining visit frequencies instead of complying with the prescribed minimum intervals.
Premium-collection relief retained for three years
The extension preserves the existing framework allowing qualifying juristic representatives to collect and deal with insurance premiums on behalf of insurers.
