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’.
FSCA
Last call for accessible FAIS-aligned entry qualifications at MBSE
With applications closing on 15 June, MBSE’s FETC NQF 4 programmes offer a final chance to secure recognised FAIS credits before more restrictive replacements take effect.
New ‘MyWealth Method’ group surfaces as investigations grind on
A Telegram group reviving the MyWealth name is promoting crypto investment opportunities, as the FSCA’s investigations linked to earlier enforcement actions continue.
Kamlana reappointed as FSCA Commissioner for a second five-year term
The terms of two deputy commissioners were also renewed, while the third deputy will step down at the end of May.
Former Steinhoff executive Stéhan Grobler fined R358.75m
The FSCA says Grobler contravened the Financial Markets Act by publishing false or misleading financial statements between 2014 and 2017.
Court resolves key costs questions in Cadac Pension Fund case
The High Court overturns an earlier disallowance of the curator’s costs and reaffirms that former trustees remain personally liable for curatorship and inspection expenses.
Equality Court: 2021 licence relief did not extend to FSPs
Ministerial Directives issued in July 2021 applied only to specified businesses under the Businesses Act, not to FAIS-regulated FSPs.
SA tops global fraud charts as FSCA flags social media investment scams
The FSCA warns South Africans to stay vigilant as unauthorised individuals and entities exploit social media and digital platforms to solicit high-risk investments.
FSCA Consumer Advisory Panel releases inaugural annual report
The report details the Panel’s mandate, membership, and engagement with the regulator since its establishment in 2023.
Why King V matters for retirement fund boards
King V may be voluntary, but for retirement fund boards it has emerged as a critical standard for credible governance, fiduciary oversight and long-term value creation.
Key fintech policy developments to watch in 2026
Regulatory initiatives across payments, digital assets, open finance and embedded finance are expected to progress this year.
Retirement fund referred to FSCA after ‘failing to engage with Adjudicator’
The OPFA says the fund did not respond to multiple requests for information relating to the non-payment of a death benefit.
FSCA clears crowd-farming platform of unauthorised financial services
But the Authority fines Livestock Wealth and its CEO for displaying a partner FSP licence in a ‘misleading’ way.
Classic Financial creditors see first dividend, just over 6%
The initial payout returns roughly 6 cents on the rand to creditors, with legal costs taking a large slice – but further recoveries may change the final dividend.
Where theory meets practice: HCWM graduates turn learning into impact
Top achievers share how MBSE’s Higher Certificate in Wealth Management translates knowledge into real-world confidence.
Employers face dual enforcement for non-payment of retirement contributions
The Minister of Employment and Labour removes a 2003 exemption that shielded employers from labour-inspector oversight.
Ithala depositor payouts to continue through 2026 with three-year claim window
FNB has disbursed over R1 billion to Ithala customers and is sending about 5 000 SMS notifications per day to schedule branch visits.
