FSCA proposes to align waiting periods for microinsurers and traditional insurers
The waiting period restriction in the Policyholder Protection Rules puts microinsurers at a competitive disadvantage, the Authority says.
FSCA
Participants in Open Finance must provide information to the FSCA
The information gathered by the study will help to shape the Authority’s Final Position Paper on Open Finance.
Hassle-free FSP levy calculator
Just enter one or two numbers – the spreadsheet does the rest.
FSCA urges the public to be vigilant against impersonation scams on social media
Fraudsters are abusing the brands of Ashburton Investments and Moneyweb to reel in the unsuspecting.
FSCA welcomes decision to uphold revised R20m fine on Markus Jooste
‘Conduct of this kind undermines public confidence in financial markets and leads the general public to believe that the system is rigged and unfair,’ Tribunal says.
Ombud Council publishes new FAIS Ombud Rules for comment
The Rules increase the limit on the compensation the Ombud can award complainants and provide for changes to the Office’s jurisdiction and procedures.
Tribunal’s decision in Brite case highlights important principles, says FSCA
No way to ‘cure’ soliciting investments in unapproved foreign schemes.
FSCA publishes draft 2024/25 budget for comment
In line with previous financial years, FSPs will be the main contributors to the Authority’s revenue from levies.
FAIS Ombud budgets for more levy income despite 0% increase
The Office can no longer look to the FSCA to make up for any shortfalls in income.
Ombud Council’s 2024/25 budget reflects shift to operational independence
Bridging finance from National Treasury may not be required now that it has certainty of receiving levy and special levy income.
FSCA names employers that owe retirement fund contributions
The document lists 3 262 employers that are at least four months in arrears – and the worst offenders are 20 years behind.
FSP ‘failed to act’ against reps implicated in hundreds of policy fraud cases
Mbalane Financial Services tells the Tribunal it was entitled to wait for a final forensic report from Old Mutual.
Failure to meet Fica provisions costs FSP R400 000
The Appeal Board’s decision underscores the crucial role of risk management and compliance in the financial sector’s battle against money laundering and terrorism financing.
Forex trader seeks to have R20m fine and 20-year debarment reconsidered
Craig Massyn submits the penalties imposed on him were disproportionately large compared to those imposed on the other directors of the Praesidium Group.
New Trustee Training Toolkit will come online in September
A trustee must attain TKK certification within six months from the date of appointment or election to the board.
Investors told to beware amid probe into United African Stokvel
Law firm’s insights shed light on identifying warning signs and creating safeguards within stokvels to prevent misuse and promote trust.
Beware of chancers: FSCA issues warnings against dubious operators
From individuals impersonating the FSCA to falsely presenting themselves as legitimate FSPs, alleged fraudsters are coming at consumers from all sides.
