Labour law reforms mulled to clamp down on arrear contributions
The government, business, and labour are working together at Nedlac to address employers’ non-compliance with payments to retirement funds.
FSCA
Access Bank and Sava aim to transform small-business banking in SA
Sava, a fintech startup backed by Access Bank South Africa, has received regulatory approval to launch a digital banking platform tailored to SMEs.
Telegram groups impersonating Truffle and Vista Wealth
Impersonators are using the names of authorised financial firms, Truffle Asset Management and Vista Wealth Management, to defraud people.
Ithala hits back: sharp criticism of Reserve Bank’s liquidation move
Ithala accuses the appointed repayment administrator of overstepping his authority, while the Prudential Authority moves to liquidate the entity.
Major banks to explain lending practices to parliamentary committees
MPs also want to meet with the FSCA to discuss banking-relating issues, including credit policies, fees, and client confidentiality.
Scammers target Banxso investors with fake fund recovery schemes
Scammers are preying on Banxso investors, promising to recover lost funds for a fee, the FSCA warns.
Deadline looms for input on FSCA’s financial education charter
The finalised Financial Education Commitment Charter is set to have a significant on impact the industry, requiring institutions to invest in targeted education programmes.
FSCA warns of deepfake fraud featuring Patrice Motsepe
AI-generated media make it seem as if one of South Africa’s richest people is endorsing an ‘investment’.
Godongwana defends the banks’ right to close accounts
Financial institutions will participate in evaluating improvements to Conduct Standard 3 of 2020, aligning these efforts with the COFI Bill.
Social media scam peddles fake RE5 exam certificates at a discount
Fraudulent RE5 exam certificates were recently advertised on Facebook, sparking a public warning from the FSCA about regulatory exam fraud.
Key regulatory and compliance developments: looking back at 2024 and what’s ahead in 2025
Billy Seyffert unpacks 2024’s major compliance changes, from the two-pot retirement system to cybersecurity standards, offering practical advice to stay ahead in 2025.
FSCA slaps R2.1m fine and 20-year ban on unauthorised forex operator
An investigation found that Greyshore Investments solicited deposits while promising to trade on behalf of investors, without the necessary authorisation.
US financial company’s name hijacked in impersonation scam
The FSCA says the scammers are also misusing the FSP number of a Bloemfontein-based financial planning business.
Investigation: United African Stokvel’s promises were worthless
The stokvel misused a significant portion of the money it collected, while the remaining amounts were used to pay purported returns to some investors, says the Authority.
FSCA fines two financial firms R1.2 million for FICA compliance failures
Risk management failings, inadequate customer due diligence, and lack of senior management oversight are key lessons for the industry.
‘Investment’ scammers impersonate companies on Telegram
The FSCA also alerts the public to individuals who may be providing financial services without authorisation.
FSCA crypto licensing update: more than 240 CASPs approved
Of the 420 CASP licence applications received, nine were declined, while 106 applications were voluntarily withdrawn.
