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.
Compliance and Legislation
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.
SARS ruling sheds light on offshore trust loans
BPR 430 considers a proposed distribution and set-off of reciprocal loan claims, but its tax outcome is confined to the particular facts presented to SARS.
Treasury holds largely firm on AML Bill after public submissions
Two limited FICA changes were indicated, while the FSCA explained why the financial-sector provisions would not be amended.
Tribunal draws line between discipline and debarment
An FSP cannot treat debarment as an automatic consequence of a disciplinary finding, the Tribunal says, setting aside a process riddled with procedural failures.
SARS begins biggest VAT reporting overhaul in decades
The shift to near real-time reporting promises better fraud detection and faster refunds, but businesses face significant technology costs and implementation challenges.
Tribunal sets aside Sanlam debarment over client cash deposits
The adviser breached Sanlam’s internal cash-handling rule, but the conduct did not establish a lack of honesty and integrity.
