For whom the bell tolls
On 26 October, alone, the FSCA issued six warnings to the public against providers of financial services which the regulator suspected were conducting unregistered business. Four of the six were involved in the […]
FSCA
For whom the bell tolls
On 26 October, alone, the FSCA issued six warnings to the public against providers of financial services which the regulator suspected were conducting unregistered business. Four of the six were involved in the […]
Financial soundness exemption? Claims of hardship must be ‘adequately’ supported
“Merely claiming” that compliance with the financial soundness requirements will create hardship is not “reasonable grounds” for justifying an exemption from section 45(2) of Board Notice 194 of 2017. Such claims must be […]
Financial soundness exemption? Claims of hardship must be ‘adequately’ supported
“Merely claiming” that compliance with the financial soundness requirements will create hardship is not “reasonable grounds” for justifying an exemption from section 45(2) of Board Notice 194 of 2017. Such claims must be […]
Financial institutions, including FSPs, must update their profiles with the FSCA
Licensed financial institutions, including FSPs, have until December 15 to verify or update their profile information on the FSCA’s e-portals. However, they might be experiencing some problems in completing this task, because several […]
Financial institutions, including FSPs, must update their profiles with the FSCA
Licensed financial institutions, including FSPs, have until December 15 to verify or update their profile information on the FSCA’s e-portals. However, they might be experiencing some problems in completing this task, because several […]
FSCA reacts to overturning of JP Markets liquidation order
The FSCA says it will abide by the Supreme Court of Appeal (SCA) ruling that the Gauteng Division of the High Court erred in September when it ordered the final liquidation of trading […]
FSCA opens more debarment cases but issues fewer orders in 2020/21
The FSCA’s annual report shows what regulatory action was taken in the past year and the compliance issues that caught the authority’s eye. Debarments The number of debarment orders issued by the FSCA […]
FSCA will take further action to address ‘unfair outcomes’ on universal life policies
The FSCA says it has begun consultations with the life insurance industry to develop solutions aimed at achieving “fair customer outcomes” for universal life policyholders. The authority said in a statement that the […]
FSCA will take further action to address ‘unfair outcomes’ on universal life policies
The FSCA says it has begun consultations with the life insurance industry to develop solutions aimed at achieving “fair customer outcomes” for universal life policyholders. The authority said in a statement that the […]
How the FSCA spent your levies
Levies from the financial services sector contributed R837 million (2020: R827m) to the FSCA’s revenue of R927m (R926m) in the year to the end of March 2021, according to the authority’s annual report. […]
How the FSCA spent your levies
Levies from the financial services sector contributed R837 million (2020: R827m) to the FSCA’s revenue of R927m (R926m) in the year to the end of March 2021, according to the authority’s annual report. […]
Draft regulations will empower FSCA to regulate benchmarks
National Treasury has published draft regulations that will make the provision of a benchmark a financial service that will regulated and supervised by the FSCA. “The integrity of benchmarks is critical for the […]
Draft regulations will empower FSCA to regulate benchmarks
National Treasury has published draft regulations that will make the provision of a benchmark a financial service that will regulated and supervised by the FSCA. “The integrity of benchmarks is critical for the […]
Transgression of employment contract not grounds for debarment
Misconduct in terms of an employer’s code of conduct and governance framework are not necessarily grounds for debarring a representative, the Financial Sector Tribunal ruled this month. In the matter that came before […]
Transgression of employment contract not grounds for debarment
Misconduct in terms of an employer’s code of conduct and governance framework are not necessarily grounds for debarring a representative, the Financial Sector Tribunal ruled this month. In the matter that came before […]
FSCA versus Viceroy – Round number 0ne
The FSCA publicly announced its enforcement order against Viceroy on 8 September, but it told journalists that it had informed Viceroy of its decision the previous week, which meant the clock had already […]
