Big Data – Black Hole or Opportunity
By Jan Wegelin and Neil Summers In recent months many of us have had to adopt a different rhythm to how we live and work. We changed the way we shop to online, […]
Banxso licence withdrawal – FST dismisses reconsideration bid
The Tribunal dismisses separate applications brought by Banxso and four executives, saying they lack legal standing.
Exchange control relief – Authorities suspend Exchange Control Circular 15/2020
In a media statement on Tuesday, National Treasury, the South African Reserve Bank (SARB) and the Financial Sector Conduct Authority (FSCA) announced their intention to review Exchange Control Circular 15/2020 issued by the […]
Thinking of lapsing your licence? – FSCA guidance notice provides critical information
Another tragic fallout resulting from the Covid-19 pandemic is that a number of FSPs may be considering closing down. The FSCA published a Guidance Notice to assist such entities in complying with all […]
Thinking of lapsing your licence? – FSCA guidance notice provides critical information
Another tragic fallout resulting from the Covid-19 pandemic is that a number of FSPs may be considering closing down. The FSCA published a Guidance Notice to assist such entities in complying with all […]
Business Interruption Claims – Black Friday of a different kind for Insurers
Guardrisk and Santam found themselves at the wrong end of the outcomes in two Cape High Court cases last week. On Tuesday, a full bench of the court ruled that Santam was liable […]
Cheque your mate – Acceptance of cheques to be stopped
In a recent joint statement released by the South African Reserve Bank, Financial Sector Conduct Authority, Payments Association of South Africa and the Banking Association South Africa, all stakeholders are requested not to […]
Cheque your mate – Acceptance of cheques to be stopped
In a recent joint statement released by the South African Reserve Bank, Financial Sector Conduct Authority, Payments Association of South Africa and the Banking Association South Africa, all stakeholders are requested not to […]
Crypto Assets – Draft declaration to define it as financial product
On Friday, the Financial Sector Conduct Authority (FSCA) published a draft declaration of crypto assets as financial products. “Globally there is rapid growing interest by retail investors to purchase crypto assets. South Africa […]
Santam to appeal BIC judgment – Proposes joint appeal with Guardrisk
Following the Cape High Court finding that Santam was liable to pay qualifying policyholders under the Business Interruption clause related to contagious diseases, the biggest insurer indicated on Friday that it would appeal […]
Exchange control relief – Re-classification of exchange traded funds
One of the stories that trended in the media the past week was changes to exchange control regulations, with the 30% foreign investment cap effectively lifted in certain conditions and foreign exchange-traded funds’ […]
SA’s Short-Term insurance industry – Rise in niche risk solutions amidst COVID uncertainty
Before the COVID-19 pandemic, the South African Short-Term Insurance market was on a strong growth trajectory, increasing by a solid 4.3% in insurance premium volumes, between 2018 and 2019. However, similar to the […]
Vehicle insurance – Five ways to reduce premiums
2020 has been a tough year and many people are looking for ways to decrease their expenses. Many have considered it, and some have already cancelled their car insurance to ease the financial […]
Add-on insurance policies review – Extension for submission of requested information
As a result of increasing concerns that consumers are potentially experiencing poor outcomes emanating from the sale of add-on insurance policies at point of sale through motor dealerships or as part of vehicle […]
Fraud awareness – Don’t be a victim of sim swop
COVID-19 has impacted our everyday lives, from how we socialise, how we shop and even how we bank. According to health recommendations, one of the most effective ways to contain the current COVID-19 […]
Santam loses Business Insurance case – Helpers out, round number two?
On 17 November, the Cape High Court delivered a rather damning blow to the insurance giant’s hope of escaping liability under the business interruption clause, specifically as it relates to losses resulting from […]
FICA – Considerations relating to geographic areas published
The Financial Intelligence Centre (FIC) is calling for comments from accountable institutions, reporting institutions, supervisory bodies and other persons on the draft Public Compliance Communication 110 (draft PCC 110). According to the Consultation […]
Post-Covid world – How to achieve investment goals
In times of crisis, staying focused on the bigger picture is critical. “We too often see investors obsess over fund performance numbers. Yet, there seems to be little cognisance of the fact that, […]
