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.
Deputy Pension Funds Adjudicator Naheem Essop shares how OPFA’s inquisitorial process works, the challenges funds face with internal dispute resolution, and what happens when complaints escalate or are deemed frivolous.
The Authority invites interested parties to participate in High Court proceedings that will decide whether it may impose penalties on foreign individuals without physically serving documents in South Africa.
The Council will use complaints data to spot systemic risks and harmonise complaint-handling across all financial ombuds, its five-year strategic plan shows.
In response to industry calls, the Authority has drafted an exemption from the section 14(1) process for retail retirement funds.
The High Court confirms a Tribunal decision that the appointment of directors of insurance companies can be regularised retrospectively. It underscores that section 14 of the Insurance Act does not require the Prudential Authority’s pre-approval.
The judgment confirms that the Tribunal acted within its authority when it reduced a penalty imposed by the Prudential Authority on two state-owned insurers.
The Authority has withdrawn the temporary exemption for retirement fund transfers, signalling the full implementation of updated regulatory requirements.
The FSCA is preparing for the massive task of migrating about 12 500 financial services providers into the new COFI framework.
The PA shared an update on the six workstreams focused on the transition, confirming that they will be ready to regulate CISs and retirement funds by 1 April 2026.
The two directors were debarred for 20 and 10 years, respectively.
The two directors of Hernell Funerals have been debarred for 10 years and five years, respectively.
The High Court confirms the Prudential Authority’s right to challenge Tribunal decisions while affirming the limits of retrospective penalties.
The amendments to the Companies Act, FICA, and the Financial Sector Regulation Act are designed to close regulatory gaps and enhance enforcement.
An investigation found that Greyshore Investments solicited deposits while promising to trade on behalf of investors, without the necessary authorisation.
A longer annexure of employers who have cleared their arrears or arranged to do so signals the effectiveness of the Authority’s ‘name and shame’ campaign.
Experts weigh in the impact on financial services of a proposed opt-out registry to protect consumers from unwanted marketing.
Notifications
