Proposed beneficial owner rules bring fresh scrutiny for financial institutions
Institutions will have to identify and verify owners, assess their honesty and integrity at least every two years, and report beneficial-owner information to regulators.
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Last chance to register: COFI readiness for small FSPs
Moonstone Compliance will explore what the FSCA’s changing supervisory approach means for smaller practices and how they can respond proportionately.
Safeguarding client assets under COFI: familiar rules, new expectations
The Bill re-organises existing asset-protection obligations into a fiduciary framework that places greater emphasis on governance, evidence, and customer protection.
COFI will connect what financial institutions offer, say, and deliver
The outcomes-based framework links product and service governance with customer expectations and the experience that follows.
Registration closes on Monday for Moonstone’s Regulatory Update Webinar
With COFI on the horizon, the webinar will unpack its practical implications alongside key regulatory, enforcement, and FICA developments.
Prudential Authority warns of AI-accelerated cyber attacks
Financial institutions must move beyond monitoring and focus on resilience, containment, and recovery under compressed timelines.
SARS says poor employer data is disrupting auto-assessments
As third-party submissions open, SARS urges employers to file early and accurately or risk triggering errors, delays and taxpayer verifications.
FSCA’s financial education Conduct Standard comes into force
With the transition period now over, financial institutions that offer education initiatives must align with the FSCA’s requirements on governance, evaluation, and accountability.
Stricter reporting obligations for crypto-asset transactions
From 1 March, new frameworks will impose expanded due diligence and information-exchange obligations on exchanges, custodians and banks.
Santam goes global: Lloyd’s approves Syndicate 1918 launch
South Africa’s leading short-term insurer is set to underwrite international property, marine, cyber, and more from January 2026.
FSCA and PA publish comprehensive study into AI use in financial sector
The regulators will issue a discussion paper to clarify governance, disclosure, and consumer-protection expectations.
OMNI-Risk Return presentations available for downloading
The recordings of the three webinars on the Return can be viewed on the FSCA’s YouTube channel.
Gender-neutral surname ruling shakes up families and institutions
Employers, banks, insurers, and other identity-verifying bodies must accept surname assumptions by any spouse and update onboarding and benefits procedures accordingly.
Regulators invite comment on draft IT and cyber incident reporting rules
Financial institutions subject to Joint Standards 1 of 2023 and 2 of 2024 are asked to provide feedback by 5 October 2025.
FSPs brace for tougher scrutiny as risk-based AML compliance takes centre stage
As South Africa prepares for a tougher FATF evaluation, FSPs must master risk-based compliance – balancing security, cost, and strong partnerships to target real threats and protect legitimate customers.
COFI | Financial institutions should start their transition planning now
Early preparation will ensure agility and competitiveness once the new regime takes effect.
Authorities developing Joint Standard on cloud computing and data offshoring
The FSCA and PA publish recommended best practices, urging financial institutions to adopt a risk-based approach aligned with their size and complexity.
