FSCA urges the public to be vigilant against impersonation scams on social media
Fraudsters are abusing the brands of Ashburton Investments and Moneyweb to reel in the unsuspecting.
Compliance and Legislation
When are levy payments to the FSCA due?
FSPs can expect to receive their assessment notice this month.
Tribunal rules in favour of rep who found out about her debarment from the FSCA
The debarment procedure did not comply with the FAIS Act in a number of ways, the FST finds.
Draft amendments on information-sharing between accountable institutions published
Information-sharing must be done in accordance with FICA and POPIA and governed by a written agreement.
FSCA welcomes decision to uphold revised R20m fine on Markus Jooste
‘Conduct of this kind undermines public confidence in financial markets and leads the general public to believe that the system is rigged and unfair,’ Tribunal says.
Uncertainty over ‘place of supply’ rules for cross-border transactions
Place of supply rules are becoming more important as transactions become increasingly digital and supply chains become more complex.
How SA employment laws are promoting the inclusion of women in the workplace
The discrepancies between the treatment of women and men in the workplace are to some extent decreasing, but women continue to experience barriers to retention and promotion.
Supreme Court of Appeal sends a clear warning about non-compliant group schemes
SCA rules on the dispute between KGA Life and Multisure that arose after the cancellation of the intermediary agreement.
Ombud Council publishes new FAIS Ombud Rules for comment
The Rules increase the limit on the compensation the Ombud can award complainants and provide for changes to the Office’s jurisdiction and procedures.
Former bank employee’s ‘good intentions’ not enough to avoid debarment
The Financial Services Tribunal hears another case involving a representative who ‘completed’ proof of address letter on clients’ behalf.
Tribunal’s decision in Brite case highlights important principles, says FSCA
No way to ‘cure’ soliciting investments in unapproved foreign schemes.
Deadlines to complete new Trustee Training Toolkit’s first 11 modules
The FSCA plans to release the remaining modules in March 2024.
The FAIS Ombud has some good news for FSPs
The FSCA and the FAIS Ombud have announced their proposed levy and fee increases for 2024/25.
Book now for Moonstone’s FICA compliance webinar in October
The free webinar will equip you to follow a risk-based approach to compliance, as required by the Financial Intelligence Centre.
FSCA confirms withdrawal of Salt Asset Management’s licence
The Authority conducted an inspection on the company last year following allegations of its potential involvement in money-laundering activities.
Two pots: MPs agree with Cosatu that R25 000 cap on seeding is too low
Retirement industry bodies plead for a later implementation date, but Cosatu says 1 March next year is a ‘red line’.
RAF amendments will severely curtail the rights of road accident victims, say experts
The draft legislation allegedly restricts a road accident victim’s right of access to the courts and does away with general damages compensation.
