‘No room for doubt’ about a key individual’s responsibilities
Case of Smart Billion highlights what is expected of KIs, says FSCA.
FSCA
FSCA has applied to the High Court to overturn tribunal’s Viceroy decision
The penalties imposed by the Authority on Viceroy and Markus Jooste came to R211 million.
Regulatory exam fraud is rife, says FSCA
Moonstone will check the authenticity of a certificate if provided with written consent.
FSCA provisionally withdraws Salt Asset Management’s licence
The Authority is looking into allegations that the company was involved in money laundering.
Statutory management of Private Security Sector Provident Fund to end
Trustees and principal officer commit to good governance in enforceable undertaking signed with the FSCA.
FSCA drops proposed minimum B-BBEE Level 4 requirement
Authority publishes the final version of its strategy to promote transformation in the financial sector.
FSCA publishes draft conduct standard on financial education
Among other provisions, financial education must not be used as a guise for marketing.
FSCA publishes report on project to deregister retirement funds
Authority says mistakes were made, but they were rectified.
FSCA to allow regulation 28 unit trusts to invest in hedge funds
This is one of three changes the Authority is proposing to make to Board Notice 90.
FSCA provisionally withdraws Prosper’s licence following its liquidation
Authority also pulls the licence of Stringfellow Financial Services.
Monday briefing: a round-up of recent financial services news
FSCA’s risk-based approach | Medical scheme in liquidation | CIPC to collect beneficial ownership info | SA ties with Russia ‘a risk’
Keenan Ebden fined R1m and debarred for 15 years
More than 600 investors lost their money – some exceeding R1 million each.
FSCA, Reserve Bank say they will step up their anti-money laundering efforts
Accountable institutions are expected to fulfil their compliance obligations
FSCA sets out how intermediaries may be paid for RA fund transfers
Final version of guidance notice on intermediary remuneration published.
Reminder: conduct standard on retirement fund contributions is now in effect
Conduct Standard 1 of 2022 aims to help eradicate non-payment of retirement fund contributions by employers.
Investigation into N-e-FG Administrators is ‘at an advanced stage’
FSCA has taken steps after considering the statutory manager’s report.
FSCA finally pulls the plug on alternative stock exchange
Following ‘prolonged non-compliance’ with the liquidity and capital adequacy requirements.
