FSCA – Page 26 – Moonstone Information Refinery

Video interview: New mutual insurer enters the market

Authority publishes the final version of its strategy to promote transformation in the financial sector.

Among other provisions, financial education must not be used as a guise for marketing.

Authority says mistakes were made, but they were rectified.

This is one of three changes the Authority is proposing to make to Board Notice 90.

Authority also pulls the licence of Stringfellow Financial Services.

FSCA’s risk-based approach | Medical scheme in liquidation | CIPC to collect beneficial ownership info | SA ties with Russia ‘a risk’

More than 600 investors lost their money – some exceeding R1 million each.

Accountable institutions are expected to fulfil their compliance obligations

Final version of guidance notice on intermediary remuneration published.

Conduct Standard 1 of 2022 aims to help eradicate non-payment of retirement fund contributions by employers.

FSCA has taken steps after considering the statutory manager’s report.

Following ‘prolonged non-compliance’ with the liquidity and capital adequacy requirements.

FSCA says giving investors in a targeted portfolio an opportunity to object will not effectively nullify the exemption.

Applicant argues that non-compliance is not a contravention when the law does not provide for a penalty.

FSCA implements notice exempting funds from certain qualifying criteria in Board Notice 75.

The contraventions were a result of a misinterpretation of the legal position.

An independent intermediary must be authorised by the insurer to engage in ‘direct collection of premium’ activities.