The main reason the FSCA fined FSPs in terms of the Financial Intelligence Centre Act (FICA) last year was for failing to implement a risk management and compliance programme (RMCP), the Financial Intelligence […]
The concept of “emigration”, as recognised by the Financial Surveillance Department (FSD) of the South African Reserve Bank (SARB), has been phased out with effect from 1 March 2021. This has created even […]
The concept of “emigration”, as recognised by the Financial Surveillance Department (FSD) of the South African Reserve Bank (SARB), has been phased out with effect from 1 March 2021. This has created even […]
The FSCA’s annual report shows what regulatory action was taken in the past year and the compliance issues that caught the authority’s eye. Debarments The number of debarment orders issued by the FSCA […]
The Financial Sector Tribunal has upheld a ruling by the Pension Funds Adjudicator (PFA) that a retirement annuity fund was not liable for the losses suffered by a member when it reduced the […]
The Financial Sector Tribunal has upheld a ruling by the Pension Funds Adjudicator (PFA) that a retirement annuity fund was not liable for the losses suffered by a member when it reduced the […]
The Financial Sector Tribunal has given the FAIS Ombud a dressing down for failing to apply her mind to an application by an FSP and its representative to have a complaint brought against […]
The Financial Sector Tribunal has given the FAIS Ombud a dressing down for failing to apply her mind to an application by an FSP and its representative to have a complaint brought against […]
Sanlam Life and Fedgroup Life have become the latest life insurers to be fined by the SA Reserve Bank (SARB) for not complying with the Financial Intelligence Centre Act (FICA). Earlier this year, […]
Sanlam Life and Fedgroup Life have become the latest life insurers to be fined by the SA Reserve Bank (SARB) for not complying with the Financial Intelligence Centre Act (FICA). Earlier this year, […]
The concept of “emigration”, as recognised by the Financial Surveillance Department of the South African Reserve Bank (SARB), has been phased out with effect 1 March 2021. This has created even more confusion […]
The concept of “emigration”, as recognised by the Financial Surveillance Department of the South African Reserve Bank (SARB), has been phased out with effect 1 March 2021. This has created even more confusion […]
Insurers should put processes in place to ensure that funeral policyholders are alerted when their dependants turn 21 and no longer qualify for child-dependant status, the Office of the FAIS Ombud says. It […]
National Treasury has published draft regulations that will make the provision of a benchmark a financial service that will regulated and supervised by the FSCA. “The integrity of benchmarks is critical for the […]
National Treasury has published draft regulations that will make the provision of a benchmark a financial service that will regulated and supervised by the FSCA. “The integrity of benchmarks is critical for the […]
Insurance intermediaries should think twice before asking their clients to sign a power of attorney (POA), because doing so precludes them from entering into a binder agreement or invalidates an existing agreement. In […]
Misconduct in terms of an employer’s code of conduct and governance framework are not necessarily grounds for debarring a representative, the Financial Sector Tribunal ruled this month. In the matter that came before […]
