Tag Archives | FSCA


FSCA Retirement Funds Workshop – Application for registration closes tomorrow

The FSCA’s Retirement Funds Supervision Division (RFSD) will be hosting a one-day workshop to provide guidance for trustees on some of the important aspects of the Pension Funds Act, 1956 and Financial Sector Regulation Act, 2017. Ideally, candidates applying for registration should be persons who are being groomed to become retirement fund trustees, persons who […]

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FSCA denied application for exemption – Was it justified?

In a recent Financial Tribunal case, the applicant, a sole proprietor and key individual of a brokerage, lodged an appeal for reconsideration of an FSCA decision in October 2018 to decline his application for exemption from certain Fit and Proper requirements. These requirements related specifically to the regulatory exams and qualification obligations. As the applicant […]

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FSCA Retirement Funds Supervision Division Workshop – Who should attend?

The FSCA’s Retirement Funds Supervision Division (RFSD) will be hosting an educational workshop that aims to provide guidance for trustees on certain key aspects of the Pension Funds Act, 1956 and the Financial Sector Regulation Act, 2017. Specific subjects to be unpacked include: Roles and responsibilities of trustees; Rules of a pension fund; Annual financial […]

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Collection of insurance premiums – Update on regulatory framework

Just before year end, the Financial Sector Conduct Authority (FSCA) published FSCA Communication 2 of 2018: Update on the future of the premium collection regulatory framework under the Short- and Long-term Insurance Acts. The FSCA’s communication highlighted the various regulatory interventions being considered to address specific risks inherent in third party premium collection business models. […]

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Class of Business deadlines – Clarity from the FSCA

The amended Fit and Proper requirements of Board Notice 194 of 2017 determined various requirements that need to be implemented and complied with before specific deadline dates. Since the release of the original Board Notice, various other notices and amendments have been released that provided updates on this. One of these deadlines is the new […]

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FSCA investigations and enforcement

– New faces and new powers In Afrikaans there is a saying:“nuwe besems vee skoon” – “new brooms sweep clean” which implies that new employees often bring change or renewal to business. Is this the case with the appointment of the FSCA’s new Divisional Executive for Investigations and Enforcement? Mr Brandon Topham joined the FSCA […]

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FSCA fines Product Provider R30 000

– Timely warning to industry about new advertising regulations Section 106(a) of the Collective Investment Schemes Act No.45 of 2002 states: No person may make a statement or disseminate information which he or she knows, or ought reasonably to know, is false or misleading or is likely or intended to – a) Induce other persons […]

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FSCA – New appointments announced

The FSCA recently announced the following executive appointments with effect from 1 February 2019: Ms Felicity Mabaso has been appointed as the Divisional Executive for licensing and the business centre. Mr Brandon Topham joins the FSCA as Divisional Executive for investigations and Enforcement. Mr Jabulane Hlalethoa has been appointed as Divisional Executive for the FSCA corporate centre, […]

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