The FSCA has published Communication 17 of 2020 to inform stakeholders that a draft general exemption has been published for further comment. Due to the different meaning attributed to the term “fund” brought […]
The FSCA has released Communication 18 of 2020 to inform stakeholders, Financial Services Providers (FSPs) and Key Individuals that, Compliance Reports and Handover Reports usually due for submission to the FSCA in terms […]
A Directive, jointly issued by the Financial Sector Conduct Authority (FSCA) and the Prudential Authority(PA), reads: “In order to complement the respective nationwide measures being put in place to contain the spread of […]
Public Compliance Communication 48 (PCC 48), published by the FIC recently, now provides clarity on when a nominated beneficiary will also be regarded as a client, including when Client Due Diligence (CDD) has […]
Last week, the Financial Intelligence Centre published Public Compliance Communication 46 (PCC 46), the result of all comments considered as submitted on draft PCC 109. PCC 46 now confirms the fact that all the […]
The commencement dates of certain provisions under the Financial Sector Regulation Act has recently amended and as a result published in a Government Gazette. Some of these include: ● Chapter 14 (sections 175 […]
The FSCA has just released their response to comments received on the published draft Exemptions from the STIA and LTIA Regulations. In addition, the FSCA also published the following two exemption notices which […]
The FSCA has just released their response to comments received on the published draft Exemptions from the STIA and LTIA Regulations. In addition, the FSCA also published the following two exemption notices which […]
The Financial Intelligence Centre (FIC) has just published Public Compliance Communication No 43 (PCC43). The objective of the communication is to provide accountable institutions (AI) with the FIC’s view on compliance with their customer […]
The FSCA has an ongoing responsibility to take appropriate remedial and enforcement action where a financial institution has failed to comply with the law. A few of the latest enforcement orders issued by […]
A recent Financial Services Tribunal case highlights the jurisdiction of the Pension Funds Adjudicator (PFA) in so far as group life insurance scheme falls under the Pension Funds Act are concerned. Case background […]
A court ruling has empowered consumers to force their medical aids to fund any drug or medical care a doctor considers necessary to treat any disease that falls under the “Prescribed Minimum Benefits” […]
A court ruling has empowered consumers to force their medical aids to fund any drug or medical care a doctor considers necessary to treat any disease that falls under the “Prescribed Minimum Benefits” […]
Sales staff turnover in the financial services industry has always been notoriously high. Of late, it has become evident, from decisions by the Financial Services Tribunal, that due process was not always followed […]
As a result of the right to appeal against a debarment decision, there was a substantial increase in debarment cases referred to the Tribunal since April 2018. In most of these cases the process […]
“Consequential loss” has always been a grey area in the short-term insurance industry. The South African Insurance Association (SAIA) defines “consequential loss” as “a loss not directly caused by the insured event, but […]
“Consequential loss” has always been a grey area in the short-term insurance industry. The South African Insurance Association (SAIA) defines “consequential loss” as “a loss not directly caused by the insured event, but […]
