A survey shows that only 8% of consumers lodged complaints with financial institutions between 2021 and 2023. Does this figure reflect genuine satisfaction or signal barriers in the complaint process?
The FSCA has raised the maximum daily penalty for late submissions under insurance legislation by 4.39%.
The revamped website will centralise all regulatory tools and services into one easy-to-navigate platform, making it simpler for FSPs to locate compliance information, verify credentials, and track enforcement actions.
In response to stakeholder concerns over increased costs, the FSCA says the requirements can be scaled to each institution’s size and complexity.
The new draft introduces a phased approach, initially focusing on positional reporting to overcome challenges identified in earlier consultations and to enhance oversight of short selling.
The Authority has withdrawn the temporary exemption for retirement fund transfers, signalling the full implementation of updated regulatory requirements.
The FSCA’s latest Retirement Funds Statistical Report highlights trends in fund membership, asset growth, and investment performance.
The need to get South Africa off the grey list has seen the FSCA beefing up its supervisory and licensing capacities.
Promises of unrealistic returns are clear sign that a scam is afoot.
The FSCA is preparing for the massive task of migrating about 12 500 financial services providers into the new COFI framework.
The PA shared an update on the six workstreams focused on the transition, confirming that they will be ready to regulate CISs and retirement funds by 1 April 2026.
Unathi Kamlana says the Authority will support the integration of advanced technologies and strengthen frameworks for consumer protection, cyber resilience, and financial inclusion.
The minister’s address to the FSCA conference also touched on regulation, South Africa’s G20 presidency, political tensions over the Budget, and economic growth.
While South Africa is on track to exit the grey list by October, National Treasury emphasises the importance of long-term improvements and continuous progress in financial regulation.
A review finds significant lapses in the banks’ complaint management – from inconsistent categorisation to poor record-keeping and communication.
A survey indicates that while a majority of investment providers incorporate ESG considerations, hurdles such as inconsistent ratings and greenwashing remain.
A decade after the introduction of hedge fund regulations, retail investors are driving strong growth, with RHFs attracting R11.84 billion in net inflows in 2024.
