Collusion to no avail
An applicant who was debarred after being found guilty of fraud and dishonesty appealed to the Financial Sector Conduct Authority for a reconsideration of the decision. The applicant “attacked the process of debarment” […]
COFI Bill tabled in National Assembly
Treasury takes the next step in financial sector reform.
It is not only a sin to tell a lie – you could be prosecuted
An FSCA Press Release on 15 June 2021 addresses the occurrence of inaccurate reports, particularly on social media platforms, which indicate that getting the Covid-19 vaccine will render life insurance policies “null-and-void” because […]
Employers may now implement mandatory vaccination policies
An updated Consolidated Direction on Occupational Health and Safety (Directive) was issued on 11 June 2021 by the Department of Employment and Labour. Amongst others, it expressly permits an employer to implement a […]
Cybercrimes Act “wildly unrealistic”, claims expert
In an article titled Expert slams newly-enacted Cybercrimes Act, Legalbrief today reports as follows: An expert has slammed the newly-enacted Cybercrimes Act, saying that jailing and fining Internet users for, among other things, […]
Local multi-asset fund managers bullish on JSE-listed stocks outlook
We noted last week, in an article titled The strengthening Rand and investing overseas, that local equities have outstripped global markets by huge margins since April 2020. This view is reaffirmed in an […]
Principles which will guide regulation of crypto assets in South Africa
The Intergovernmental Fintech Working Group (IFWG) has published a position paper on crypto assets. In 2014, the National Treasury issued a cautionary note, warning the public about the risks associated with the use […]
Complaints Management Framework – Effective date for full implementation
The General Code of Conduct was significantly amended in June 2020. This is particularly true of Section 17 which requires the establishment of a complaints management framework. Most of the new requirements had […]
Complaints Management Framework – Effective date for full implementation
The General Code of Conduct was significantly amended in June 2020. This is particularly true of Section 17 which requires the establishment of a complaints management framework. Most of the new requirements had […]
Draft proposals for managing IT risks
The Financial Sector Conduct Authority (FSCA) and the Prudential Authority (PA), published a draft Joint Standard on Information technology risk management for public consultation. The main objective of the Joint Standard is to […]
List of recognised qualifications updated
The formal “Lists of Qualifications Recognised for Financial Services Providers, Key Individuals and Representatives, 2021” came into operation on 31 May 2021. This replaces its namesake for 2020. The list contains approved qualifications […]
Condonation of late application for reconsideration of debarment
The recently updated Financial Services Tribunal Consolidated Rules contain the following stipulations regarding time frames: An application for reconsideration must be made: if the applicant requested reasons in terms of section 229 of the […]
Condonation of late application for reconsideration of debarment
The recently updated Financial Services Tribunal Consolidated Rules contain the following stipulations regarding time frames: An application for reconsideration must be made: if the applicant requested reasons in terms of section 229 of the […]
When is it legal to record conversations without consent?
The protection of Personal Information Act (POPIA) is looming large on the horizon, and privacy governance is about to become an integral part of the way we do business. Prior to this, the […]
Amended Customary Marriages Act a significant step towards equality for women
On 1 June this year, President Cyril Ramaphosa approved the amended Customary Marriages Bill. This is a significant step towards equality for women in South Africa. Moremadi Mabule, Head of Wills at Sanlam […]
The strengthening Rand and investing overseas
If, like me, you watched in amazement as the local currency kept getting stronger against the Dollar and Euro, you might want to read the views expressed in a MoneyMarketing article on Friday. […]
Proposed exemption for CIS managers from obtaining advanced electronic signatures
Board Notice 92 of 2014 requires that a manager must obtain a signed application form or a contract from an investor. However, it is silent on the format or form that such a […]
1Plan – the FNA that matches needs with affordability and life stage
“For too long financial needs analyses (FNAs) have calculated an amount that clients need to allocate to insurance and invest without taking affordability into account. If we want to make financial advice more […]
