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Home / Compliance and Legislation / Page 9

Compliance and Legislation

Videos

Video interview: New mutual insurer enters the market

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2025 FPI Convention Highlights with Lelané Bezuidenhout and Ronald Matande

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Key compliance issues for FSPs in 2025/26

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Employment equity targets drop key safeguards from Solidarity deal

The final employment equity targets have sparked concerns over transparency and methodology in the absence of clear, evidence-based rationale from the Department of Employment and Labour.

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New employment equity regulations raise the stakes for employers

With the 2025 Employment Equity Regulations now in effect, designated employers must align with stricter sectoral targets or face stiff penalties – unless they can justify non-compliance.

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Under pressure: navigating the financial regulatory heat in 2025

Financial institutions that proactively embed governance, technology, and culture to meet evolving regulatory standards will not only avoid penalties but also strengthen credibility, build resilience, and drive long term value.

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Amended POPIA Regulations tighten the screws on direct marketing

The recently gazetted amendments enhance the rights of data subjects and clarify the compliance obligations of responsible parties.

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African Bank pays R500 000 fine for misleading marketing

The advert touted a personal loan as an ‘investment’, contravening Conduct Standard 3’s requirements for clear, fair, and factually correct advertising.

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Tax Court faults SARS in R158m VAT case over legal insurance fund

SARS’s stance on input VAT was overturned after the court found the fund to be the principal in an insurance agreement – not merely an agent.

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No exemptions: all CASPs must adopt ‘travel rule’ directive

The FSCA and the FIC remind CASPs and FSP CASPs of the compliance requirements that take effect on 30 April.

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Five years to finalise an investigation and impose a sanction is ‘unreasonable’

The Tribunal says individuals who are subject to administrative action are entitled to fair processes that include the speedy finalisation of their matter

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FSCA moves to simplify RA and preservation fund transfers

In response to industry calls, the Authority has drafted an exemption from the section 14(1) process for retail retirement funds.

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FIC demands full RCR compliance to aid exit from the grey list

The Financial Intelligence Centre issues a stern reminder to designated non-financial entities – particularly legal practitioners and estate agents – to file their overdue risk and compliance returns.

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Legally wed, financially left out: wife denied pension benefit

The FST has upheld a ruling that a legal spouse must still prove financial dependence or be nominated to receive a share of a deceased member’s pension benefit.

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SA labour law may extend to employees living or working abroad

National labour forums have jurisdiction when the employment contract is governed by South African law and connected to a local public entity.

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Information Regulator opens submission window for 2024/25 PAIA reports

Public and private bodies are ‘invited’ to submit their annual reports on access-to-information requests for the period from 1 April 2024 to 31 March 2025.

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SCA clarifies pawnbroker’s rights to proceeds from asset sales

The judgment addresses several aspects of the National Credit Act, including the obligation to register as a credit provider and permissible interest charges.

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Updated POPIA compliance: data breach reporting must be online

From 1 April, all security breaches must be reported solely via the Information Regulator’s online portal, not by email.

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FSCA confirms first-day calculation for late-payment interest

The revised interpretation, which reverses the Authority’s earlier guidance, aligns with the Office of the Pension Funds Adjudicator’s view.

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Updated regulatory framework aims for ‘fair customer outcomes’ in pension administration

The Conduct Standard outlines a series of updated requirements for benefit administrators, including governance enhancements, risk management protocols, and processes for ensuring fair outcomes for fund members and beneficiaries.

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RAF ends costly battle with Auditor-General
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