Heads you win, tails I lose
South Africa is a land of stark contrasts, and one of the most visible examples is how legislation is applied differently across various sectors of the economy. The financial services industry is one […]
The applicant only became aware in May last year that the decision to debar her constituted administrative action.
Read moreSouth Africa is a land of stark contrasts, and one of the most visible examples is how legislation is applied differently across various sectors of the economy. The financial services industry is one […]
Recordings of the Authority’s recent workshops on financial soundness are available on YouTube.
The FSCA has published a conduct standard setting out the requirements relating to third-party cell captive insurance business. Conduct Standard 2 of 2022 (INS) came into operation on 1 October and applies immediately […]
The following is an extract from the FSCA’s statement explains the need for, the expected impact of, and the intended operation of the conduct standard on third-party cell captive insurance business. Enhancements to […]
Unfortunately, the answers, including those where vehicles are at repair shops, will probably not bring them much cheer.
It is clear that the FSCA does not lightly withdraw an asset manager’s licence in view of the possible consequences for investors, yet there comes a time when there appears to be no […]
The Financial Services Tribunal (FST) has told the FSCA to reconsider the penalty of R4 000 a day it imposed on Akani Retirement Fund Administrators in 2020 for not submitting reports timeously. The total […]
The FSCA is taking a number of steps to encourage retirement funds to invest in green and other ESG investments.
Whistleblower asserts that members’ money was stolen, although a forensic investigation found no evidence of this.
The FSCA has proposed establishing a single central unclaimed assets fund into which all unclaimed assets should be transferred. This is one of 13 recommendations in its discussion paper on unclaimed assets, which […]
An estimated R88.56 billion in unclaimed assets are held by institutions across the financial sector. However, the FSCA says the amount might be far higher because there is no common understanding of what […]
The FSCA this week published a media release providing a short summary of the content covered in its financial soundness workshop for FSPs that collect premiums or hold assets. The online workshop was […]
The publication of the final amendments to Joint Standard 1 of 2020 by the FSCA means that the significant owners of FSPs must now comply with the honesty and integrity requirement from which […]
There are things former retirement fund members and their beneficiaries can do to make it more likely they will be paid an unclaimed benefit due to them. By the end of last year, […]
The FSCA has approved amendments to the JSE’s Listings Requirements to enable the listing of actively managed exchange-traded funds (ETFs). The approval was published in the Government Gazette on 9 September, and the […]
The FSCA last week published two notices relating to the guarantee, professional indemnity (PI) and fidelity insurance (FI) exemptions granted to certain types of FSPs. The FSCA has once again extended, to 31 […]