Monday briefing: a round-up of recent financial services news
Pawn-while-you-drive warning | Guardrisk insurtech platform | OM buys digital wills start-up | Investec outperforms Alsi
Banks
UK set to introduce deregulation in financial services
Government uses opportunity provided by Brexit to ‘cut red tape’ and ‘turbocharge growth.
FSCA publishes amendments to the General Code of Conduct
The requirements for advice fees in the context of insurance policies will be dealt with by amending the insurance regulations.
Fisa calls on banks to focus on bank accounts of clients who have passed away
Practitioners can get authority from the Master’s Office within weeks but battle for months for a response from some of the banks.
Grey-listing: what are the implications for the financial sector and the greater economy?
It will become increasingly difficult to invest offshore, even for the wealthiest investors, says Anchor Capital.
Financial institutions may hold far more than R88bn in unclaimed assets
An estimated R88.56 billion in unclaimed assets are held by institutions across the financial sector. However, the FSCA says the amount might be far higher because there is no common understanding of what […]
Grey-listing will have ‘muted’ impact on SA’s banks, says S&P
South Africa’s possible grey-listing will have a “muted” impact on the country’s banking sector, although local banks might suffer some reputational risk and could face higher compliance costs, according to S&P Global Ratings. […]
Ombudsman sets out what consumers should know about prescription
The Ombudsman for Banking Services (OBS) has issued a communication that alerts consumers to their rights when it comes to debt that has prescribed. According to ombudsman Reana Steyn, most consumers are ignorant […]
Policyholders, investors ‘should be extra vigilant’ following TransUnion data breach
The Association for Savings and Investment South Africa (Asisa) has cautioned policyholders and investors to expect an increase in phishing attempts and approaches from criminals impersonating representatives from life insurers and investment companies […]
South African Banking Sentiment Index 2020 – Banks fail social media response test horribly
New entrants, African Bank and Discovery Bank, claimed the first and last positions respectively in BrandsEye’s annual South African Banking Sentiment Index. In its fifth year of producing the Index, BrandsEye collected more […]
South African Banking Sentiment Index 2020 – Banks fail social media response test horribly
New entrants, African Bank and Discovery Bank, claimed the first and last positions respectively in BrandsEye’s annual South African Banking Sentiment Index. In its fifth year of producing the Index, BrandsEye collected more […]
The FSCA and Cybercrime
Cybercrime continues to evolve, with new threats surfacing every day. Last year an Accenture study revealed a huge spike in cyberattacks on all fronts – banks, Internet service providers (ISPs), utilities and ecommerce […]
Conduct Standard for Banks – About disclosures and how it aligns to TCF
The Financial Sector Conduct Authority (FSCA) recently published a Conduct Standard for banks along with a document detailing its expected impact and a report on the consultation process. “Over the past decade a […]
Final Conduct Standard for Banks – Aims to ensure fair treatment of bank customers
“The Conduct Standard for Banks is the first step towards rolling out a comprehensive market conduct regulatory framework for the banking sector. The main objective of the Conduct Standard is to introduce requirements […]
Final Conduct Standard for Banks – Aims to ensure fair treatment of bank customers
“The Conduct Standard for Banks is the first step towards rolling out a comprehensive market conduct regulatory framework for the banking sector. The main objective of the Conduct Standard is to introduce requirements […]
Cyber attacks on banks – No threat to customers
SABRIC, the South African Banking Risk Information Centre, last week confirmed that the banking industry has been hit by a wave of ransom driven Distributed Denial of Service (DDoS) attacks, targeting various public-facing […]
Cyber attacks on banks – No threat to customers
SABRIC, the South African Banking Risk Information Centre, last week confirmed that the banking industry has been hit by a wave of ransom driven Distributed Denial of Service (DDoS) attacks, targeting various public-facing […]
