The FSCA says it is investigating various entities because of concerns that they may be offering unauthorised investments.
COMPLY WITH DIRECTIVE 7 BY FRIDAY OR FACE THE CONSEQUENCES, SAYS FIC
Accountable institutions that ignore Directive 7 and fail to submit a risk and compliance return (RCR) by Friday face being sanctioned by the Financial Intelligence Centre (FIC).Read more
National Treasury will introduce the COFI Bill ‘very soon’ and amend the Financial Markets Act to tighten regulation of the country’s financial markets.
Implementing the draft Conduct Standard will have cost implications for CIS managers – some of which may be substantial, particularly for smaller managers.
The finance committee’s decision seems, in part, to be based on the assumption that some fund administrators will be ready to ‘go live’ on 1 March next year.
Law firm Clyde & Co summarises the key implications of the Joint Standard for financial institutions.
Is the FSCA obliged to grant an exemption if a fund has met all the conditions set out in Board Notice 59 of 2014?
Financial institutions are expected to implement IT controls that are commensurate with their risk appetite, based on the nature and size of an institution’s operations.
It was argued that the Act does not require the FSCA to invite submissions before deciding whether a person has contravened a financial sector law.
One can continue to render crypto asset financial services if the application is submitted by 30 November.
The FSCA’s investigation into FSPs who might have suggested the trust to their clients aims to assess whether these providers took into account suitability and risk factors.
A formal FSCA investigation into BHI Trust in 2020 found that several financial sector laws had been contravened.
The court-appointed joint provisional trustees of BHI Trust are urging investors and creditors to submit their claim forms timeously.
Legitimate fund managers do not promise to double your money in 24 hours.
The FSCA says its investigation into BHI Trust will include regulated entities that may have promoted the collective investment scheme’s products.
The contravention came to light during an on-site inspection by the FSCA.
The fingerprints of affected individuals may be taken to check information such as their qualifications and criminal records.