Banxso licence withdrawal – FST dismisses reconsideration bid
The Tribunal dismisses separate applications brought by Banxso and four executives, saying they lack legal standing.
FSCA
FSCA slaps Banxso and directors with record R2bn fine
The Authority says the penalties reflect the financial benefit gained from unlawful conduct and the harm to clients – handing 30-year debarments to several Banxso executives.
Multimillion-rand penalties levied across Medbond Group
The FSCA imposes a R197m fine on Medbond Insurance Brokers and its principal, whom it debarred for 30 years.
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.
Twenty-year debarment and R9m fine for unauthorised ‘forex trading’
The Authority found that most investor funds were used to pay ‘returns’ to other investors and cover personal expenses.
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.
Classic Financial’s Geldenhuis in court after four-year wait, first LDA lodged
Classic Financial Services edges closer to closure as the first liquidation and distribution account is formally lodged for public inspection.
Ombud warns of surge in day-trading losses as investors underestimate risk
Many trading platforms are FSCA-licensed but expressly do not provide advice. This typically blocks successful complaints unless advice can be proved.
Levy increases for 2025/26 lower than initially proposed
Moonstone’s levy calculator enables FSPs to find out quickly how much they will pay to the FSCA, FAIS Ombud, and Tribunal.
Alternative stock exchange resolves ‘opt out’ listings dispute with FSCA
A2X says it will pay the fine, adding the vast majority of the affected companies have elected to retain their secondary listings.
FICA compliance webinars for crypto firms
The FSCA has uploaded recordings of its five-part webinar series aimed at helping CASPs meet their FICA obligations.
FSCA and PA publish comprehensive study into AI use in financial sector
The regulators will issue a discussion paper to clarify governance, disclosure, and consumer-protection expectations.
Licences of Medbond Insurance and Medbond Markets withdrawn
The Authority’s investigation found that Medbond Insurance advised its clients to invest in non-existent financial products.
Clock is ticking for intermediaries to shape OMNI-Risk Return
Comprehensive industry input now will influence what data the FSCA collects and how it prioritises future enforcement and benchmarking.
R2.1m in penalties: FSCA shuts down unauthorised forex scheme
The FSCA has fined two individuals R2.1 million and debarred them for 20 years after uncovering an unauthorised forex-trading scheme that drew in hundreds of investors.
‘Be sceptical’: FSCA flags fresh spike in social-media investment scams
A string of new cases shows how fraudsters are mimicking brands, cloning FSP numbers and impersonating officials to steal funds.
Umboneleli Womngcwabo unyusa izigwebo ezilishumi elinambini (12) ze-FAIS Ombud ngokuchasene nayo
I-FSCA yarhoxisa ilayisenisi ye-Luvuyo’ kwinyanga yeThupha emva kokuba uthotho lwezigqibo lufumanise ukuba le nkampani ayiphumelelanga ukuhlawula amabango kwaye yasebenza ngaphandle kombhali ongaphantsi.
