MBSE opens virtual doors to aspiring financial professionals
Moonstone Business School of Excellence is hosting Virtual Open Days from 13 to 15 May.
#financialsector
Financial institutions urged to prioritise cyber resilience as Joint Standard takes effect
With Joint Standard 2 on cybersecurity coming into force on 1 June, the Prudential Authority emphasises the need for financial institutions to bolster resilience, share intelligence, and prepare for inevitable cyberattacks.
FSCA discloses approach to regulating a rapidly changing financial sector
Unathi Kamlana says the Authority will support the integration of advanced technologies and strengthen frameworks for consumer protection, cyber resilience, and financial inclusion.
Godongwana reassures Ithala’s depositors with R2bn guarantee
The minister’s address to the FSCA conference also touched on regulation, South Africa’s G20 presidency, political tensions over the Budget, and economic growth.
SA’s path beyond the grey list: key challenges and opportunities ahead
While South Africa is on track to exit the grey list by October, National Treasury emphasises the importance of long-term improvements and continuous progress in financial regulation.
MPs push for deeper financial sector transformation
The Finance and the Trade and Industry committees will engage with roleplayers from across the sector before finalising a report that will be tabled in Parliament.
Treasury asks First National Bank to assist Ithala’s SASSA customers
Treasury and SASSA respond to an allegation that Ithala’s client database was ‘unlawfully’ transferred to FNB.
How Ithala’s banking ambitions crumbled: the rise and fall of a rural icon
The Prudential Authority’s push for Ithala’s provisional liquidation has brought the bank’s journey to an abrupt halt, leaving 257 000 depositors in limbo.
Deadline looms for input on FSCA’s financial education charter
The finalised Financial Education Commitment Charter is set to have a significant on impact the industry, requiring institutions to invest in targeted education programmes.
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.
Rising risks and rewards: the shift to asset-intensive reinsurance in the insurance sector
As insurers increasingly turn to alternative assets and cross-border reinsurance, industry experts highlight the growing complexities and risks.
Social media scam peddles fake RE5 exam certificates at a discount
Fraudulent RE5 exam certificates were recently advertised on Facebook, sparking a public warning from the FSCA about regulatory exam fraud.
Investigation: United African Stokvel’s promises were worthless
The stokvel misused a significant portion of the money it collected, while the remaining amounts were used to pay purported returns to some investors, says the Authority.
FSCA fines two financial firms R1.2 million for FICA compliance failures
Risk management failings, inadequate customer due diligence, and lack of senior management oversight are key lessons for the industry.
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.
FIC to launch inspections on CASPs amid growing regulatory scrutiny
The Financial Intelligence Centre’s sector final risk assessment report for crypto asset service providers is set to be published in the new financial year.
FSCA Commissioner highlights balance between innovation and regulation
FSCA Commissioner Unathi Kamlana underscores the importance of balancing the costs and benefits of regulation to foster innovation and protect consumers.
