Banxso licence withdrawal – FST dismisses reconsideration bid
The Tribunal dismisses separate applications brought by Banxso and four executives, saying they lack legal standing.
#FinancialSectorRegulationAct
R12.6m fine, 15-year ban send strong warning on unauthorised insurance
The FSCA’s investigation concluded that South African Relocations and The Relocations Group offered marine insurance without registration.
Transitional delegations under the FSRA pushed to 2028/29
New end-dates extend the temporary allocation of certain supervisory duties to the FSCA and PA while regulatory frameworks are finalised.
Countdown to JIBAR cessation: SARB urges market to step up transition to ZARONIA
South Africa’s financial markets brace for the end of Jibar as SARB signals a major shift toward the more transparent, transaction-based ZARONIA benchmark.
High Court rules on SARS’s R5.3bn claim against Sasfin Bank
The judgment dismissed parts of Sasfin’s exceptions and left SARS’s statutory claim under the Financial Sector Regulation Act to proceed.
New Rules for Adjudicator emphasise efficiency, consistency, and COFI readiness
The draft Rules for the Office of the Pension Funds Adjudicator formalise existing procedures and align the OPFA with COFI and the cross-scheme framework.
FSCA publishes proposed levies and budget for 2026/27
The Authority seeks a 4% increase in levies to fund its operating expenditure, which will rise by 9%.
PA publishes its proposed levy and fee increases for 2026/27
The Authority expects to reduce its budget deficit by 28%, driven by a 3.3% revenue uplift and planned cost-cutting measures to streamline operations.
FST upholds FSCA’s revocation after employer trustees excluded from vote
The Tribunal agrees with the Authority that the rule amendment was void because the employer-appointed trustees were asked to leave the meeting during the deliberations.
COFI | Financial institutions should start their transition planning now
Early preparation will ensure agility and competitiveness once the new regime takes effect.
FSCA can serve penalty notices electronically on foreign respondents
As a result of the declarator, the High Court ordered the Tribunal to revisit its decision regarding the R50m fine imposed on Viceroy Research.
CODI hits R20bn target in first year of operation
With systems in place and 95% of depositors fully covered, CODI is stepping up its readiness to handle a potential bank failure.
Tribunal upholds R1m fine and 15-year debarment for unlicensed trading
Mareo-John Nel breached the FAIS Act after signing an enforceable undertaking to remedy the same unlawful conduct he committed previously.
Tribunal upholds strict timing for FSP debarments
Section 14(1)(b) of the FAIS Act cannot be stretched to catch misconduct discovered after a representative’s tenure.
COFI is coming – and FSPs can’t afford to wait
Early preparation for COFI will give firms a competitive edge and help to avoid the compliance scramble seen during FAIS implementation.
Reappointment, not a stopwatch: Tribunal on FSP debarment durations
Unlike FSCA-imposed bans with fixed terms, debarments driven by an FSP stay in force until another FSP is convinced a rep is Fit and Proper.
Did the FSCA overstep in Banxso’s liquidation battle?
Banxso claims the FSCA violated the Financial Sector Regulation Act by handing over interview transcripts that were supposed to remain internal. The Authority insists its subpoena was valid and no promises of confidentiality were made.
