The FSCA has confirmed that the provision for a pro rata reduction in CPD hours as a result of parental leave, or because of illness or disability, applies only to an FSP’s representatives, […]
The FSCA says it is investigating contracts for difference provider Regenesis Markets (Pty) Ltd following complaints from clients that they have not received their funds after submitting withdrawal requests. Regenesis Markets, which is […]
The FSCA has exempted managers of collective investment schemes from having to obtain an advanced electronic signature (AES) from an investor when transacting online. An AES is a type of digital signature. In […]
The FSCA has fined Brite Advisors South Africa (Pty) Ltd and a former director of the group, Nigel James Green, a total of R12.5 million. The Authority said an investigation found that Brite, […]
The FSCA’s assumption that an FSP had not responded to one of its questions contributed to its decision to debar him. But a pack of documents the FSP sent the FSCA landed up […]
As we reported last week, National Treasury has revised some of the levies that FSPs will have to pay to the FSCA in terms of the Financial Sector and Deposit Insurance Levies Bill. […]
The Financial Services Tribunal (FST) as upheld the FSCA’s decision to debar a life insurance representative who admitted that she submitted unauthorised policy applications but subsequently sought to qualify her admission. What is […]
The FSCA has given motor dealers and financial institutions operating in the vehicle asset finance (VAF) space until the end of June to complete a questionnaire about dealer introductory commissions (DIC). In a […]
The long-awaited conduct standard “Requirements relating to third-party cell-captive insurance business”, together with the Statement of Need and Intended Operation and the Consultation Report, was tabled in the National Assembly and the National […]
National Treasury has proposed lowering some of the levies that FSPs will pay to the FSCA in terms of the Financial Sector and Deposit Insurance Levies Bill, to reduce the impact on small […]
Parliament’s Standing Committee on Finance has tasked National Treasury with producing a report on how the Financial Sector and Deposit Insurance Levies Bill will impact consumers and small entities. Read: FSPs face paying […]
The FSCA has imposed penalties of R110 000 on both Viva Cover (Pty) Ltd and Comit Technologies (Pty) Ltd for contravening various provisions of the General Code of Conduct from November 2013 to […]
The FSCA has decided that compliance officers or FSPs will not have to submit compliance reports this year. This was also the case from 2019 to 2021. This was one of the announcements […]
In February, the FSCA published FSCA Communication 4 announcing that it is exempting FSPs, key individuals and representatives who operate in the credit life and funeral insurance space from some of the Fit […]
Having a FAIS licence does not mean that a trading platform can issue over-the-counter (OTC) derivatives, including contracts for difference (CFDs), as principal in South Africa. To do this, the entity must have […]
The FSCA has exempted retirement funds from using the formats in Board Notice 77 when preparing financial statements as long as they use the revised report formats approved by the Independent Regulatory Board […]
The FSCA has agreed to reconsider the R50 million penalty it imposed on Mirror Trading International (MTI) for conducting unregistered financial services business in contravention of the FAIS Act. The Financial Services Tribunal […]
