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.
There will be planned maintenance of ICT systems, starting on Friday 13 September 2019 at 17:00, until Sunday 15 September 2019 at 20:00. This means that all ICT services, including the FSCA website, will not be accessible […]
Section 14(1) of the FAIS Act makes it compulsory to debar a person if he or she fails to comply with the requirements of Board Notice 194 of 2017 which became effective on 1 April 2018. […]
One of the predictions of 2019 was that digital transformation will be one of the big influences that will be visible in the financial services industry. Forbes predicted that “we will see big […]
LegalBrief reported yesterday that the Gauteng High Court (Johannesburg), in a judgment written by Judge Roland Sutherland, has confirmed similar rulings in the Western Cape, KZN and Limpopo divisions, that the High Court […]
Spring has finally arrived and with the turn of the season comes the opportunity to start afresh. While everyone may be spring cleaning their home, office or email inbox, one of the most […]
Claiming to hold a tertiary qualification that you do not have could come with a jail term of five years in South Africa. The new National Qualifications Framework Amendment Act came into effect […]
Last Monday we published an article on the outcome of a FSCA Tribunal hearing with the following introduction: “The findings of a hearing by the FSCA Tribunal in the Van Zyl case heard […]
The 2018 annual death claim benefit statistics for fully underwritten individual life policies released last week by the Association for Savings and Investment South Africa (ASISA) show that life insurers paid 33 545 claims, […]
Everybody has biases. We make judgements about people, places, and of course, the markets. It is almost impossible not to allow the filters which are created through our emotions and our experiences to […]
ASISA has recently added the following to their website: Their position on the prescription of assets; A PowerPoint presentation by Gill Raine, senior policy adviser at ASISA; and A column on the topic […]
The FSCA has commissioned a classification of all identity numbers and company registration numbers of financial institutions on record. As a result certain identified financial institutions will receive a “request for information” template […]
A recent American survey examined how consumers are talking about money to their friends, family and financial advisers. The survey results showed that women are more likely than men to purposely avoid the […]
Two weeks ago President Cyril Ramaphosa signed the controversial Administrative Adjudication of Road Traffic Offences (Aarto) Bill into law. In general, the Bill will result in the setting up of a demerit system […]
Two weeks ago President Cyril Ramaphosa signed the controversial Administrative Adjudication of Road Traffic Offences (Aarto) Bill into law. In general, the Bill will result in the setting up of a demerit system […]
“We are one nation building one health care system. Let’s work together. There is no us and them.” These were the words in a tweet of Dr Zweli Mkhize, South Africa’s Health Minister. […]
The lyrics of a UB40 song reads “There’s a rat in my kitchen what am I gonna do?” The song also relates to the owner of a Porsche, who discovered a resident rat […]
One type of insurance technology many insurance companies are using nowadays is drones. According to DeLoitte there are two strategic objectives: better risk management through improved data collection, and reduced operational costs through […]
