Godongwana defends the banks’ right to close accounts
Financial institutions will participate in evaluating improvements to Conduct Standard 3 of 2020, aligning these efforts with the COFI Bill.
#financialregulation
US financial company’s name hijacked in impersonation scam
The FSCA says the scammers are also misusing the FSP number of a Bloemfontein-based financial planning business.
‘Investment’ scammers impersonate companies on Telegram
The FSCA also alerts the public to individuals who may be providing financial services without authorisation.
FSCA flags unauthorised investment schemes and funeral policies
An entity must be authorised by the FSCA and the Prudential Authority to issue insurance policies in South Africa.
Unpaid contributions: FSCA prepares to hold non-compliant employers accountable
With over R5.2 billion in unpaid retirement fund contributions and municipalities among the worst offenders, the FSCA is poised to gain expanded powers under the COFI Bill.
FSCA refutes claim of Banxso licence reinstatement amid ongoing investigation
The liquidation application against Banxso claims that the number of clients deceived by the deepfake adverts is far greater than previously reported.
How the COFI Bill will affect the retirement industry
The ‘imminent’ COFI Bill will introduce the licensing of retirement funds (including public sector funds), stricter board member standards, and enhanced oversight of contributing employers.
MTI liquidation: a global effort to recover crypto funds from a Ponzi scheme
Leveraging the Model Law on Cross-Border Insolvency, the liquidators co-ordinated with courts in the US, UK, and Australia, setting a precedent for future international crypto claims.
Markus Jooste among major offenders as FSCA fines surge
The Authority suspended 1 061 FSP licences in 2023/24, primarily for non-compliance with statutory returns.
