Public comment sought on draft administrative action procedures
Background The FSCA website, on its Enforcement Actions page, shows a huge array of fines, ranging from R161 million to as little as R18 000. In 2013, we took up the issue of how […]
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.
Elon Musk sets fire to the bitcoin and cryptocurrency debate
Tesla CEO Elon Musk, who has been a big supporter of cryptocurrencies, implied in a Twitter exchange on Sunday afternoon that the electric vehicle maker sold or may sell the rest of its […]
Are you potentially exposed to the risk of screen scraping?
In 2020, the South African Reserve Bank (SARB), the Payment Association of South Africa (PASA) and the Financial Sector Conduct Authority (FSCA) issued a joint statement warning consumers about the risks associated with […]
CPD deadline less than three weeks away
You have only 18 days left as we approach the end of the Continuous Professional Development (CPD) cycle and the deadline for the Financial Advisory and Intermediary Services (FAIS) CPD, which is 31 […]
CMS clarifies selection of Designated Service Providers and excessive co-payments
As a result of a high volume of queries following the recent publication of the Government Gazette Notice on the future of Designated Service Providers (DSPs) and co-payments, the Council for Medical Schemes […]
CMS clarifies selection of Designated Service Providers and excessive co-payments
As a result of a high volume of queries following the recent publication of the Government Gazette Notice on the future of Designated Service Providers (DSPs) and co-payments, the Council for Medical Schemes […]
Banking Ombud on banks’ performance
According to the Annual Report of the Ombudsman for Banking Services (OBS) there was a significant increase in cases for most Banks when compared to 2019. Only Absa Bank recorded a reduction in […]
Banking Ombud on banks’ performance
According to the Annual Report of the Ombudsman for Banking Services (OBS) there was a significant increase in cases for most Banks when compared to 2019. Only Absa Bank recorded a reduction in […]
Banking Ombud 2020 Annual Report sees notable increase in complaints
“The year in review was an unprecedented and difficult one for the banking industry as well as its customers. Surprisingly, the Office did not receive many complaints relating to the financial crisis. In […]
Banking Ombud 2020 Annual Report sees notable increase in complaints
“The year in review was an unprecedented and difficult one for the banking industry as well as its customers. Surprisingly, the Office did not receive many complaints relating to the financial crisis. In […]
Combine POPIA awareness with CPD recognition
The Protection of Personal Information Act (PoPIA) comes into full effect from 1 July 2021. This date should come as no surprise to anyone or any business as many Sections of the Act […]
Impact of emigration law changes on retirement funding provision
Regulations regarding taking retirement funds out of the country when you emigrate changed from 1 March 2021. These changes affect people who have certain types of retirement funding, such as retirement annuities and […]
Escalation of Policy Benefits under Demarcation Regulations
Towards the end of April 2021, Finance Minister Tito Mboweni published the Annual Policy Benefit Escalations regarding the Demarcation Regulations, regulated under section 72 of the Long-term Insurance Act and section 70 of […]
Reversal in fortunes for many local equity funds
A recent analysis by Citywire showed that the top-performing SA equity funds in the first four months of this year were some of the worst performers last year. According to Patrick Cairns, the […]
UK regulator aims to strengthen investment rules to avoid white noise in risk warnings
One of the interesting findings of the recently discussed Momentum Investments and Oxford Risk Noise and Investment Advice Study was that the conventional methods of assessing risk of individual investors, is subject to […]
UK regulator aims to strengthen investment rules to avoid white noise in risk warnings
One of the interesting findings of the recently discussed Momentum Investments and Oxford Risk Noise and Investment Advice Study was that the conventional methods of assessing risk of individual investors, is subject to […]
Financial advice on TikTok – Threat or opportunity for the young?
In a recent article, Nomi Bodlani, head of strategic markets at Allan Gray highlighted the dangers of following financial advice on TikTok. Bodlani also cautioned that the phenomenon has opened the door for […]
