In the current climate, perhaps more than ever before, people are seeking empathy and reassurance. Real connection counts, especially in a time of distancing, disorder and uncertainty. Intermediaries can play a pivotal role in being a pillar of support and providing a plan. Clear communication is imperative. Advisers who proactively reach out to clients may […]
The formal “Lists of Qualifications Recognised for Financial Services Providers, Key Individuals and Representatives, 2021” came into operation on 31 May 2021. This replaces its namesake for 2020. The list contains approved qualifications for Categories I, II, IIA and III. It is important to bear in mind that all qualifications are subject to approval, and […]
The protection of Personal Information Act (POPIA) is looming large on the horizon, and privacy governance is about to become an integral part of the way we do business. Prior to this, the Regulation and Interception of Communications Act (RICA) was one of main concerns in this regard. A recent article by Gabriella Keeble of […]
As events around the coronavirus continue to evolve, many advisors have realised the importance of proactive communication with their clients. The means of the communication has also changed as more communication are actioned via online meetings, phone calls and even social media. Being active on social media was important before COVID-19, but now, it is […]
The Financial Intelligence Centre (FIC) is calling for comments from accountable institutions, reporting institutions, supervisory bodies, and other persons on the draft Public Compliance Communication 12A (draft PCC 12A). The draft PCC 12A is an update to the existing Public Compliance Communication 12. The draft PCC 12A provides guidance and clarity on what compliance activities […]
The Joint Directive issued by the Authorities on 9 April 2020 under Alert Level 5 was withdrawn and replaced with Joint Communication 7, which sets out how financial institutions must comply with the Occupational Health and Safety Directives, issued by the Minister of Employment and Labour, in terms of the Regulations regarding the precautionary measure in workplaces. Greater responsibility is […]
Joint Communication 2 issued on 21 April 2020 sets out the Financial Sector Conduct Authority (FSCA), South African Reserve Bank, Prudential Authority (PA) and Financial Intelligence Centre (Authorities) position concerning the COVID-19 pandemic and its impact on the ability of Accountable Institutions (AIs) to adhere to their obligations regarding customer due diligence (CDD), particularly that […]
A communication issued on 21 April 2020 sets out the Financial Sector Conduct Authority (FSCA), South African Reserve Bank, Prudential Authority (PA) and Financial Intelligence Centre (Authorities) position concerning the Covid-19 pandemic and its impact on the ability of Accountable Institutions (AIs) to adhere to their obligations regarding customer due diligence (CDD), particularly that of […]
The Covid-19 pandemic has highlighted that life can be totally unpredictable. The current scenario has brought conversations of life and death to the fore and sharpened the focus on the importance of drafting a will. Global statistics indicate that the demand for wills has increased across the world. It has been reported that in Australia, […]
A number of new scams, spoofing communication that appears to be from various institutions, have been doing the rounds. In a recent FSCA media release, the Financial Sector Conduct Authority (FSCA) warns the public to be cautious of fraudulent messages from entities impersonating the FSCA. In one of the latest instances individuals using a fraudulent […]
