Kamlana urges banks to be fair and transparent when closing customers’ accounts
‘Banks should not simply cite reputational risk; reasons must be concrete and consistently applied to prevent what might appear as arbitrary account closures.’
Banks
PA publishes draft guidance notes for banks and insurers on climate-related risks, disclosures
Banks and insurers are expected to treat climate risk as a financial risk rather than merely a reputational risk event.
Three cases where the banking ombudsman helped consumers
In one case, the OBS’s intervention resulted in the bank cutting its executor’s fees by 50%.
Monday briefing: a round-up of recent financial services news
Bank staff allegedly helped gold smugglers | FIC gets forensic unit | Ramaphosa on exiting the grey list | OUTsurance boosts stake in Youi
Competition Tribunal rules it can hear currency manipulation case against banks
Nine more banks have been added to the case.
The banking crisis: a much-feared Black Swan has struck
The fallout could be very uncomfortable for equity investors and savers.
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
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 […]
