Working from home – How to make sure your remote team is working
One of the top questions leaders ask these days is how do I manage my staff remotely and keep everyone productive? The default answer to this question seems to search for ways to […]
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.
PCC 48 – FIC provides clarity on Client Due Diligence
Public Compliance Communication 48 (PCC 48), published by the FIC recently, now provides clarity on when a nominated beneficiary will also be regarded as a client, including when Client Due Diligence (CDD) has […]
PCC 46 – Guidance on the commencement and enforcement of the FIC Amendment Act
Last week, the Financial Intelligence Centre published Public Compliance Communication 46 (PCC 46), the result of all comments considered as submitted on draft PCC 109. PCC 46 now confirms the fact that all the […]
Retirement in the time of COVID-19 – How to secure a sustainable income for life
Living annuities has become the product of choice when it comes to retirement for most advisers. The Coronavirus has shattered the myth that there is no place for the guaranteed annuities we have […]
Taking out life insurance during COVID-19 lockdown
In a recent ASISA media release, Hennie de Villiers, deputy chair of the ASISA Life and Risk Board Committee, states that, while medical testing is an important part of the insurance process used […]
The potential impact of COVID-19 on household financial wellness in SA
While most of the focus has been on how COVID-19 has impacted corporates, little light has been shed on how this will affect household financial wellness in SA. Johann van Tonder, Economist and […]
Impact of coronavirus (COVID-19) – FSCA expectations on Regulated Entities
Amidst the chaos that the COVID-19 pandemic has caused in our daily lives, we are slowly but surely trying to adapt to the new way of work. But as financial advisers and FSPs, […]
COVID-19 – Introduction of tax measures to combat the pandemic
In light of the National State of Disaster and due to the significant and potentially lasting negative impacts on the economy from the spreading of the COVID-19 virus, the Minister of Finance announced […]
Impact of COVID-19 – Funeral policy premium collection
FSCA Communication 14 outlines the regulator’s expectations regarding the culture and responsibilities of insurers and financial services providers in respect of premium collection of funeral policies. “The communication addresses premium collection by certain […]
Impact of COVID-19 – Funeral policy premium collection
FSCA Communication 14 outlines the regulator’s expectations regarding the culture and responsibilities of insurers and financial services providers in respect of premium collection of funeral policies. “The communication addresses premium collection by certain […]
COVID-19 – Credit Life benefits might cover obligations
Various financial institutions have implemented measures to provide relief to individual and business customers whose financial stability has been impacted by COVID-19. Several financial experts have also pointed in the media that, taking […]
COVID-19 – Credit Life benefits might cover obligations
Various financial institutions have implemented measures to provide relief to individual and business customers whose financial stability has been impacted by COVID-19. Several financial experts have also pointed in the media that, taking […]
FSRA – Amendment of notice of commencemen of Ombud Council
The commencement dates of certain provisions under the Financial Sector Regulation Act has recently amended and as a result published in a Government Gazette. Some of these include: ● Chapter 14 (sections 175 […]
Working from home – Stop worrying about everything at the same time By Xuviate
By now you probably have established a bit of a routine for when to do what every day. But, just as you are patting yourself on the back, you realise you now have […]
Lockdown and Cybersecurity
The recently released Communication 12 of the FSCA alerts financial institutions to explicitly consider cyber-risk exposures and potential for breaches that may be heightened over this lock-down period due to the wide roll […]
Good news – Life insurers have the reserve buffers to withstand COVID-19 fallout
The South African life insurance industry has more than double the legally required reserve buffers in place and is therefore well positioned to deal with the COVID-19 fallout over the coming months. The […]
FSCA provides guidance on essential services to the FIA
The Financial Sector Conduct Authority (FSCA) and the Prudential Authority (PA) have received a number of queries regarding the treatment of financial services as essential services. The following information is extracted from a […]
