FSCA extends the duration of three exemption Notices
The exemptions relate to the audit report and liquidity requirements, juristic representatives, and professional indemnity or fidelity insurance cover.
FSCA
Consumers must be aware of the high risks of online trading, says FAIS Ombud
The Ombud was unable to help a complainant who lost most of the R725 000 he invested over several months.
FSCA warns the public of potential pyramid scheme
The Authority also alerts the public to an unauthorised entity that is promising unrealistic returns from forex trading.
FSCA asks BHI Trust investors to come forward with information on FSPs
Numerous individuals have been subpoenaed to appear before the Master of the High Court, to be questioned about the affairs of the sequestrated trust.
FSCA revises the timelines for the roll-out of Omni-CBR
The Authority has noted the industry’s feedback, but Moonstone’s main concern with the first version of the return remains.
Two pots: proposed implementation date is neither 1 March 2024 nor 1 March 2025
The Minister of Finance responds to the Standing Committee on Finance’s call for the implementation date to be moved to 1 March next year.
Crypto market study reveals 10 common risks to investors
The FSCA says the study will bolster its grasp on crypto asset activities, enabling the Authority to fine-tune its oversight and licensing strategies.
FSCA discloses how many crypto licence applications it is processing
Some 20% of the applications received by the end of October were withdrawn for various reasons.
Another FSP targeted in an impersonation scam on social media
The FSCA says it is investigating various entities because of concerns that they may be offering unauthorised investments.
Urgent need to close regulatory gaps in over-the-counter markets, says FSCA
National Treasury will introduce the COFI Bill ‘very soon’ and amend the Financial Markets Act to tighten regulation of the country’s financial markets.
FSCA publishes extensive draft Conduct Standard for CIS managers
Implementing the draft Conduct Standard will have cost implications for CIS managers – some of which may be substantial, particularly for smaller managers.
Two pots: MPs envisage staggered implementation
The finance committee’s decision seems, in part, to be based on the assumption that some fund administrators will be ready to ‘go live’ on 1 March next year.
Second take: Joint Standard on IT governance and risk management
Law firm Clyde & Co summarises the key implications of the Joint Standard for financial institutions.
Tribunal considers the FSCA’s powers when exempting a retirement fund from a valuation
Is the FSCA obliged to grant an exemption if a fund has met all the conditions set out in Board Notice 59 of 2014?
Joint Standard on how financial institutions should manage their IT risks
Financial institutions are expected to implement IT controls that are commensurate with their risk appetite, based on the nature and size of an institution’s operations.
Supreme Court of Appeal dismisses challenge to the procedural fairness of sections of the FSR Act
It was argued that the Act does not require the FSCA to invite submissions before deciding whether a person has contravened a financial sector law.
Time is running out to apply for a crypto asset licence
One can continue to render crypto asset financial services if the application is submitted by 30 November.
