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Tag Archives | amendments

Fit&proper

Fit and Proper requirements – FSCA publishes proposed amendments for comment

Since the implementation of the Determination of Fit and Proper Requirements for Financial Services Providers, 2017 on 1 April 2018, various exemptions were issued to deal with new requirements. According to the FSCA certain provisions of the Determination also required further clarification. As a result, the FSCA just released “Proposed Amendments to the Fit and Proper Requirements” […]

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pension-fund

Retirement funds and emigration – Update on amendments

Towards the end of July 2020, National Treasury published the Draft Taxation Laws Amendment Bill, 2020. One of the proposals relates to an overhaul of the rule for taking retirement funds abroad. In a parliamentary briefing last week, Treasury responded to the submissions on the new bills alongside the South African Revenue Service (SARS). It […]

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laws

General Code of Conduct and F&P requirements Amendments – Major changes will need your serious consideration

In a note to Moonstone compliance officers, Billy Seyffert, COO of Moonstone Compliance and Legal notes: “These are some of the most important changes since the 2017 F&P changes.” The Financial Sector Conduct Authority (FSCA) has published the final amendments to the General and Short-term Deposit Codes of Conduct as well as Fit and Proper […]

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Dlamini

Amendments to Social Grant Deductions

The Minister of Social Development, Ms Bathabile Dlamini (pictured above), issued a media release on Friday, 6 May, to explain the background to amendments to the Social Assistance Act, 2004, published on the same date. The amendments apply to regulations relating to the application for and payment of social assistance and the requirements or conditions in […]

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Competency

Proposed Amendments to Competency Requirements

The proposals concerning competency requirements under the new Fit and Proper regulations, published in December 2015, include the following: Experience It is proposed that, in order for a person to be approved as a key individual of a Category I FSP, he or she must have obtained experience in the management and/or oversight of the rendering of […]

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