FSCA – Page 28 – Moonstone Information Refinery

Budget: Key changes for taxpayers and investors

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

FSCA says enhancements to the online submission process will result in faster turnaround times.

A complaint must be about crypto advice and services rendered from 19 October 2022.

Regulators say the revised version takes these concerns into account.

JSE imposes fines totalling R15 million and bars Steinhoff’s former chief executive from holding office as a director.

Can a director be held criminally liable for acts or transgressions by a company?

The Authority wants to get a better understanding of the conduct risks related to crypto activities.

This case sends a serious warning to those who allow “spotters” to work under their licence.

Debarred for 20 years and total fines of R35 million

The workshops were on irregularity reports and the legislative requirements for funeral parlour FSPs.

The requirements for advice fees in the context of insurance policies will be dealt with by amending the insurance regulations.

This is a year after the Financial Services Tribunal set aside the Authority’s penalty of almost R162 million.

The FSCA had already reduced the penalties and dropped the intention to debar for 10 years.

And how the Financial Services Tribunal assesses whether the fine was appropriate.

It explicitly places an onus on retirement funds to alert employers of their obligations under the Pension Funds Act.

Attendance is limited to the first 1 300 people who register.

Tribunal considers whether the insurers in some way gave their consent to IGM investing the premiums in illiquid assets.