Godongwana appoints permanent Chief Ombud
Leanne Jackson contributed to developing key financial sector legislation, including the Conduct of Financial Institutions Bill and TCF.
FSCA slaps Banxso and directors with record R2bn fine
The Authority says the penalties reflect the financial benefit gained from unlawful conduct and the harm to clients – handing 30-year debarments to several Banxso executives.
What medical schemes paid in broker commissions in 2021
Seven schemes paid commissions that were higher than the industry average.
Sabric’s crime stats lift the lid on fraudulent loan applications
Big jump in the number of fake applications for vehicle finance.
Judge ‘unscrambles an egg’: 20 years of property sales reversed
It started in 2001 when a bank bought the house for R100.
MTBPS: positive and prudent, but significant risks remain
Investors are likely to see the deficit and debt trajectories as tentative, given the risks that remain unresolved.
Did debarment remorse lead to amended certificate of service?
Tribunal asked to rule on the impact of a labour dispute settlement agreement on an FSP’s debarment decision.
Crypto providers welcome FSCA supervision
They believe it will result in financial advisers including crypto assets in their investment recommendations to clients.
What crypto asset providers need to know about licensing, regulation
Which entities are included in the FSCA’s declaration, the transitional arrangements, and the conditions attached to the exemptions.
Why the FSCA brought crypto assets within the regulatory net
Not much can be done to protect people who fall for get-rich-quick schemes
Unpacking the proposed regulatory exemptions for crypto FSPs
The exemptions apply to crypto FSPs, their key individuals and representatives, and crypto asset supervised representatives
Minister of Finance raises Fica cash reporting threshold
Period within which cash transactions must be reported is also extended
FAIS Ombud told to reconsider decision in case involving ambiguous policy wording
Insurer argues that ‘days’ means ‘normal days’, but the Financial Services Tribunal does not agree.
SA still has a chance of avoiding grey-listing, says Momoniat
‘Significant and real progress’ is being made in meeting the Financial Action Task Force’s requirements.
Why insurance premium increases are unavoidable
Santam’s executive head of commercial and personal intermediated business, Andrew Coutts, has issued a communication to intermediaries setting out the factors that have made premium increases unavoidable. Coutts said households and businesses have […]
Did grey-listing threat hasten Sarb to act against Markus Jooste?
The South African Reserve Bank (Sarb) this week moved to attach more than R1.4 billion in assets linked to former Steinhoff chief executive Markus Jooste, five years after it told Parliament it was […]
FSCA ends its 2021/22 financial year with a net deficit
The FSCA ended its 2022 financial year with a deficit of more than R4.9 million, after recording a surplus of over more than R30m in 2021, its latest annual report shows. The Authority […]
Decline in number of authorised FSPs
The number of authorised FSPs declined by 1.12% between 2021 and 2022, despite the FSCA approving more FSPs this year, the Authority’s annual report for the year to the end of March shows. […]
