SA Corona Virus Online Portal Logo


Tag Archives | Covid-19


Joint Communication 7 of 2020 – Amended COVID-19 precautionary measures for intermediaries

The Joint Directive issued by the Authorities on 9 April 2020 under Alert Level 5 was withdrawn and replaced with Joint Communication 7, which sets out how financial institutions must comply with the Occupational Health and Safety Directives, issued by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 […]

Continue Reading

COVID-19 – New PMB guidelines for medical aids

The Council for Medical Schemes recently published PMB definition guideline: COVID-19 v3, a guideline that clarifies PMB entitlements of medical scheme beneficiaries within the context of the pandemic, ensuring that there is uniform interpretation amongst all stakeholders. It further sets out recommendations for the screening, diagnosis, treatment and care of individuals with suspected and confirmed […]

Continue Reading

COVID-19 financial remedies – Negative impact on the financial services industry

Most insurers have implemented measures to assist clients who may struggle to pay their monthly premiums. These include premium holidays, discounts and deferrals of rate increases. How will these impact insurers financially? In a recent media report, financial services group Liberty Life warns that the impact of the coronavirus pandemic and lockdown will have a […]

Continue Reading

Requirements for re-opening your business – Moonstone developed comprehensive set of guidelines

The phased reopening of South Africa’s economy after COVID-19 lockdown comes with strict requirements. Every business will have to adhere to detailed health and safety protocols to protect their employees, and plans will also have to be put in place for disease surveillance and to prevent infection. Moonstone’s latest product offers peace of mind in […]

Continue Reading

Insurers need to gauge solvency issues resulting from Covid-19 impact via risk profiling

A recent article by BDO South Africa highlighted the importance of financial soundness for institutions with contractual obligations to investors. The question that the boards of insurers should be asking themselves is whether COVID-19 has led to material changes to an insurer’s risk profile. “The Prudential Standard GOI 3.1 requires insurers to conduct an own […]

Continue Reading

Internal COVID-19 Compliance Officer – Focus on Disaster Management as distinct from Fit and Proper CO

The latest Regulations in terms of the Disaster Management Act set out specific measures that employers are required to take to protect their employees in the workplace from COVID-19. According to the Level 4 Regulations (Sec 16(6)) as well as Clause 16.5 of the COVID-19 Directives on Health and Safety in the Workplace, the employer must designate […]

Continue Reading

FSCA Expectations of CIS managers during COVID-19

The FSCA published Communication 23 of 2020 (CIS) recently to acknowledge the impact of the COVID-19 global pandemic on collective investment schemes and their investors. The focus of the communication is specifically to outline certain expectations of the FSCA regarding the duties of managers of collective investment schemes and their responsibility to ensure that all […]

Continue Reading