Draft regulations for electronic commissioning out for comment
The proposals recognise electronic signatures and prescribe how oaths may be administered through audio-visual communication.
Compliance and Legislation
Draft manual sets out proposed cross-border crypto regime
Early industry reaction focuses the implications for stablecoin payments and self-custody wallets, and the compliance burden.
FIC finalises Guidance Note 7B after industry feedback
The final Guidance Note makes targeted changes, but the regulator’s feedback discloses how it weighed industry concerns and refined key aspects of the guidance.
Tribunal upholds debarment over R1.1m ‘protection’ payments
The applicant’s own admissions supported Sanlam’s decision, and the section 14 process does not mirror a disciplinary hearing or a trial.
OPFA introduces dedicated form for section 13A complaints
Retirement funds are expected to submit fuller, better-documented complaints when pursuing employers over unpaid contributions and missing contribution schedules.
Banxso, Medbond, and Steinhoff drive FSCA penalties to R2.9bn
The Regulatory Actions Report shows how the Authority is combining penalties, licence withdrawals, and debarments to tackle serious misconduct.
FSCA sharpens focus on online harm and unauthorised advice
The regulator highlights how digital scams, referral models, and trading signals can pull consumers into unlicensed services.
FIC flags filing errors as RCR deadline closes
Many institutions have left registration too late, submitted the wrong documents, or filed branch returns instead of consolidated legal entity returns.
FIC proposes annual RMCP submissions for selected institutions
The draft directive will introduce a new recurring compliance obligation, with updated programmes also having to be lodged within 10 business days of approval.
FIC clarifies geographic reporting rules in final Directive 10
The Centre has refined the directive’s scope and addressed concerns over its legal basis, administrative burden, and practical application.
Moonstone verification credited with cutting regulatory exam fraud
The FSCA says enhanced identity checks have strengthened the integrity of the regulatory examination process and reduced impersonation.
Representative’s ‘fate was sealed before she was heard’
The Tribunal found both that the process was unfair and that the FSP had not established dishonesty, recklessness, or lack of fitness and propriety.
Tribunal ruling reinforces substance over form in insurance
CDH says the decision highlights the risks for businesses that incorporate cover or risk-transfer arrangements into broader commercial offerings.
Conduct Standard deadline nears for benefit administrators
From 6 August, administration agreements and outsourcing arrangements must comply with the last deferred provisions of Conduct Standard 2 of 2025.
FSP ‘cannot sidestep’ restraint question in dishonesty case
The Tribunal finds that the alleged misrepresentation, non-disclosure, and materiality all depended on the contractual issue the FSP declined to establish.
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.
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.
