POPI Act – No more excuses
The legislation that aims to promote the protection of personal information processed by public and private bodies and seeks to balance the right to privacy against other rights, such as access to information, […]
Compliance and Legislation
Joint Communication 7 of 2020 – Amended COVID-19 precautionary measures for intermediaries
The Joint Directive issued by the Authorities on 9 April 2020 under Alert Level 5 was withdrawn and replaced with Joint Communication 7, which sets out how financial institutions must comply with the Occupational Health and Safety Directives, […]
Safety net bill introduced – Provides guidelines on how to deal with a failing bank
Cabinet has approved the tabling of the Financial Sector Laws Amendment Bill, 2020, in Parliament. According to Treasury, the Bill is part of the Twin Peaks reform of the financial regulatory system applicable […]
Safety net bill introduced – Provides guidelines on how to deal with a failing bank
Cabinet has approved the tabling of the Financial Sector Laws Amendment Bill, 2020, in Parliament. According to Treasury, the Bill is part of the Twin Peaks reform of the financial regulatory system applicable […]
NCA matters – Magistrate court has jurisdiction
Towards the end of last year, a judgment by the Grahamstown High Court made it unlawful for banks to bring National Credit Act matters before the high court instead of the much cheaper […]
Maturity value illustrations – Tribunal re-emphasises need for consumer education
The contentious issue of projections at point of sale versus actual maturity values came to the fore again in a recent Tribunal ruling on whether the Pension Fund Adjudicator was correct in agreeing […]
Maturity value illustrations – Tribunal re-emphasises need for consumer education
The contentious issue of projections at point of sale versus actual maturity values came to the fore again in a recent Tribunal ruling on whether the Pension Fund Adjudicator was correct in agreeing […]
Claim settlement options – OSTI case study clarifies indemnification criteria
In a case study shared in the recently published OSTI annual report, the issue to be determined was whether the insurer’s offer of settlement amounted to indemnification on the part of the insurer. […]
Claim settlement options – OSTI case study clarifies indemnification criteria
In a case study shared in the recently published OSTI annual report, the issue to be determined was whether the insurer’s offer of settlement amounted to indemnification on the part of the insurer. […]
Business Interruption claims – ST Ombud outlines its position
In the wake of what appears to be a substantial number of complaints regarding loss of income due to business interruption as a result of Covid-19, the Office of the Short-Term Ombud has […]
Business Interruption claims – ST Ombud outlines its position
In the wake of what appears to be a substantial number of complaints regarding loss of income due to business interruption as a result of Covid-19, the Office of the Short-Term Ombud has […]
Draft Conduct Standard – Pension contribution recovery process tightened
Towards the end of last week, the Financial Sector Conduct Authority (FSCA) published a draft Conduct Standard and supporting documents on the Requirements related to the payment of pension fund contributions. According to […]
Draft Conduct Standard – Pension contribution recovery process tightened
Towards the end of last week, the Financial Sector Conduct Authority (FSCA) published a draft Conduct Standard and supporting documents on the Requirements related to the payment of pension fund contributions. According to […]
Disciplinary hearings and subsequent debarments – What are the rules
No doubt, most readers will heave a sigh of relief that this is not yet another Covid-19 related article. The link between disciplinary and debarment hearings appears to be a major minefield for […]
Living Annuities and divorce – Supreme Court of Appeal overturns High Court ruling
In 2016 the Johannesburg High Court ruled that a living annuity does not form part of a spouse’s estate for purposes of calculating the accrual claim. This ruling has now been overturned by […]
Joint Communication 2A of 2020 – Clarity for AIs on customer due diligence
A communication issued on 21 April 2020 sets out the Financial Sector Conduct Authority (FSCA), South African Reserve Bank, Prudential Authority (PA) and Financial Intelligence Centre (Authorities) position concerning the Covid-19 pandemic and […]
NCA and commission earners – What is the impact if credit is extended under lockdown?
Since the outbreak of Covid-19, we as South Africans have been faced with extraordinary circumstances, challenging each one of us to think differently in respect of how we conduct business, how we integrate […]
