Crypto providers welcome FSCA supervision
They believe it will result in financial advisers including crypto assets in their investment recommendations to clients.
COFI Bill approved for submission to Parliament
Omnibus AML/CFT Bill also gets the nod for tabling.
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. […]
Finance committee chairperson takes aim at Intellidex report ‘canvassing’ for SA to be grey-listed
The chairperson of the National Assembly’s Standing Committee on Finance (Scof) this week sharply criticised “a section” of the business community for publishing a report suggesting there is an 85% probability that South […]
Changes to Employment Equity Act mean less red tape for small businesses
Amendments to the Employment Equity Act (EEA) will change the definition of a “designated employer” to restrict the application of sections of the Act to a reduced group of employers and relieve some […]
Heads you win, tails I lose
South Africa is a land of stark contrasts, and one of the most visible examples is how legislation is applied differently across various sectors of the economy. The financial services industry is one […]
Sars is falling far short of timeframe for resolving taxpayers’ complaints
Office of the Tax Ombud says it has escalated the matter to the senior leadership of the revenue authority.
Open medical schemes yet to regain beneficiaries lost during lockdown
Lives covered by open schemes declined in 2021 despite the increase in the number of principal members.
Most health facilities aren’t ready for NHI, says Health Ombud
Only one province seems have ‘got its act together’ when it comes to serving the population, Parliament told.
