FAIS Ombud rebuked by Tribunal
In the FJ Kotze case heard on 5 July 2021, the Financial Sector Tribunal made several scathing findings against the Office of the FAIS Ombud, something that the newly appointed Ombud Council would […]
Compliance and Legislation
FSCA Guidelines on Electronic Signatures and Prepopulated Documents
The Conduct Authority has issued FSCA Communication 12 of 2021 (FAIS) as a result of a number of concerns relating to the use of electronic signatures in the course of rendering financial services […]
So, you’ve been hacked. Is this a reportable irregularity?
A recent (1 June 2021) headline on a UK based website reports that there were 116 million records breached in the UK in May 2021. Although no formal figures are available for South […]
Forget Aquarius – this is the dawning of the age of POPIA
If you had hopes that the new kid on the block would disappear if you ignored it long enough, think again. Updates and exemptions are flying in thick and fast and furious. On […]
Forget Aquarius – this is the dawning of the age of POPIA
If you had hopes that the new kid on the block would disappear if you ignored it long enough, think again. Updates and exemptions are flying in thick and fast and furious. On […]
Crypto Currency scam sets new “record”
Last year South Africa achieved yet another dubious record when the Mirror Trading implosion was regarded as the biggest crypto currency scam ever. On 23 June Moneyweb reports: Africrypt ‘hack’ of nearly R54bn […]
Important changes to PAIA – the Promotion of Access to Information Act
Whilst a lot has been said about POPIA, its older but lesser known cousin, the Promotion of Access to Information Act (PAIA) has quietly entered the stage, left, almost as a postscript to […]
This POPI is not a flower
As can be expected, the establishment of the office of the Information Regulator is experiencing some start-up problems. With 1 July 2021 set as the date when the final sections of the Protection […]
DIY POPIA solution for small to medium enterprises
Whilst bigger organisations have the resources to develop the tools and solutions to ensure compliance with the POPI Act, many smaller and medium sized businesses need to fend for themselves in this regard. […]
It is not only a sin to tell a lie – you could be prosecuted
An FSCA Press Release on 15 June 2021 addresses the occurrence of inaccurate reports, particularly on social media platforms, which indicate that getting the Covid-19 vaccine will render life insurance policies “null-and-void” because […]
Cybercrimes Act “wildly unrealistic”, claims expert
In an article titled Expert slams newly-enacted Cybercrimes Act, Legalbrief today reports as follows: An expert has slammed the newly-enacted Cybercrimes Act, saying that jailing and fining Internet users for, among other things, […]
Principles which will guide regulation of crypto assets in South Africa
The Intergovernmental Fintech Working Group (IFWG) has published a position paper on crypto assets. In 2014, the National Treasury issued a cautionary note, warning the public about the risks associated with the use […]
Complaints Management Framework – Effective date for full implementation
The General Code of Conduct was significantly amended in June 2020. This is particularly true of Section 17 which requires the establishment of a complaints management framework. Most of the new requirements had […]
Complaints Management Framework – Effective date for full implementation
The General Code of Conduct was significantly amended in June 2020. This is particularly true of Section 17 which requires the establishment of a complaints management framework. Most of the new requirements had […]
Condonation of late application for reconsideration of debarment
The recently updated Financial Services Tribunal Consolidated Rules contain the following stipulations regarding time frames: An application for reconsideration must be made: if the applicant requested reasons in terms of section 229 of the […]
Condonation of late application for reconsideration of debarment
The recently updated Financial Services Tribunal Consolidated Rules contain the following stipulations regarding time frames: An application for reconsideration must be made: if the applicant requested reasons in terms of section 229 of the […]
When is it legal to record conversations without consent?
The protection of Personal Information Act (POPIA) is looming large on the horizon, and privacy governance is about to become an integral part of the way we do business. Prior to this, the […]
