COFI could redraw the lines of accountability in umbrella funds
COFI’s outcomes-based framework may push governance responsibility beyond trustees and require umbrella funds to prove that members are better off.
#financialregulation
SCA ruling revives rejected RAF claims – and backdates the bill
A Court-ordered reset of the RAF claims process may force recognition of previously excluded liabilities, with potentially severe consequences for the Fund and the fiscus.
Ithala pulled back from the edge, but its future remains in doubt
The Prudential Authority has withdrawn its liquidation bid after progress on depositor repayments, but Ithala is still unlicensed and cannot resume deposit-taking.
BHI Trust fallout widens as FSCA bans intermediary for 20 years
The FSCA’s latest action highlights the regulatory risks for individuals who may have been linked to the BHI Trust scheme.
Draft policy reframes financial education as a core conduct requirement
National Treasury’s draft framework signals tighter expectations for how firms deliver, integrate, and measure financial education.
R2m fine as FSCA tightens net on unlicensed investment schemes
Twin enforcement actions show sustained pressure on unauthorised operators and market misconduct.
FSCA to sharpen ESG disclosure rules as scrutiny shifts to conduct
Guidance under development signals stricter application of existing rules to sustainability claims and disclosures.
Fusion challenges finding guarantees fall under Insurance Act
Fusion has applied for leave to appeal a High Court order that interdicted it from issuing certain construction guarantees and found them to be insurance business.
FSCA tests global ESG rating models as oversight debate sharpens
Discussion paper weighs regulation, codes and hybrid options as data quality and governance risks come into focus.
New guidance clarifies credit provider scope under item 11
Final PCC 23A sharpens the definition of credit providers, confirming broad inclusion while drawing clearer lines around incidental credit and non-traditional lending.
Funds on the hook as Adjudicator flags failures in benefit payments
Rulings show weak controls can force retirement funds to repay benefits years later, with interest.
Deepfake profits and ‘overwhelming’ illegality: Banxso liquidated
The High Court finds Banxso knowingly benefited from deepfake adverts, misled clients about its licence and returns, and is ‘hopelessly insolvent’.
Draft amendments aim to remedy gaps in AML framework
The Bill largely clarifies and strengthens existing AML/CFT expectations rather than introducing a new regulatory philosophy.
Draft AML/CFT amendment Bill tightens regulatory net
The Bill proposes that arrangements yielding outcomes similar to traditional financial products be treated as financial services.
Appeals Board ruling puts Centriq–Dis-Chem partnership on the line
In Circular 48, the CMS signals tougher enforcement against exempted insurers, warning that non-compliant branding and failure to notify regulators will attract decisive action.
Suretyships mean what they say: advisers learn hard lessons after broker house collapse
A Northern Cape High Court ruling shows how easily advisers can be left personally exposed.
SARB’s new exchange control rules draw criticism
The Institute for International Tax and Finance says the latest exchange control changes could discourage foreign investors and add red tape for non-residents.
