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Tag Archives | FSCA

advisor-client

Consumer rights month – Regulator puts client at the centre

March is officially Consumer Rights Month. “Through laws such as the Financial Services Regulatory Act  (FSRA), the Financial Advisory and Intermediary Services Act (FAIS), the Treating Customers Fairly (TCF) approach as well as consumer education, the FSCA looks to help safeguard an individual’s finances and financial consumer rights,” the FSCA tweeted. As a result, the […]

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Fit&proper

Fit and Proper requirements – FSCA publishes proposed amendments for comment

Since the implementation of the Determination of Fit and Proper Requirements for Financial Services Providers, 2017 on 1 April 2018, various exemptions were issued to deal with new requirements. According to the FSCA certain provisions of the Determination also required further clarification. As a result, the FSCA just released “Proposed Amendments to the Fit and Proper Requirements” […]

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FSCA

Lapsing of licences – FSCA’s guidance notice provides clarity and requirements

The Financial Sector Conduct Authority (FSCA) has identified a recurring trend where financial services providers fail to comply with section 11(2) of the FAIS Act and/or abuse section 11(1)(d) of the FAIS Act by voluntarily surrendering licences in an attempt to avoid compliance with provisions of the FAIS Act (especially the General Code of Conduct […]

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