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. […]
FSCA
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 […]
Licence withdrawn for failure to comply with financial requirements
It appears that we live in a country where people can flaunt the law at will and get away with it. Reading the daily reports from the Zondo commission makes one’s hair stand […]
FSCA Concerns about Electronic Signatures and Prepopulated Documents can be addressed
Webber Wentzel’s Dawid de Villers, Lenee Green & Portia Mashinini from Webber kindly produced an article discussing the FSCA’s Communication 12 of 2021 (FAIS) on the use of Electronic Signatures and Prepopulated documents. […]
Huge fines a serious warning to the industry
An FSCA press release on 8 July contains details of hefty administrative sanctions imposed on Momentum Wealth (Pty) Ltd and Momentum Collective Investments RF (Pty) Ltd for failing to comply with FICA requirements. […]
It is not only a sin to tell a lie – you could be prosecuted
An FSCA Press Release on 15 June 2021 addresses the occurrence of inaccurate reports, particularly on social media platforms, which indicate that getting the Covid-19 vaccine will render life insurance policies “null-and-void” because […]
Public comment sought on draft administrative action procedures
Background The FSCA website, on its Enforcement Actions page, shows a huge array of fines, ranging from R161 million to as little as R18 000. In 2013, we took up the issue of how […]
Public comment sought on draft administrative action procedures
Background The FSCA website, on its Enforcement Actions page, shows a huge array of fines, ranging from R161 million to as little as R18 000. In 2013, we took up the issue of how […]
Enforceable undertakings – the new order?
A FSCA media release on 15 October 2020 contained details of the withdrawal of an FSP licence, the debarment of the sole director, key individual and representative for 10 years as well as […]
Enforceable undertakings – the new order?
A FSCA media release on 15 October 2020 contained details of the withdrawal of an FSP licence, the debarment of the sole director, key individual and representative for 10 years as well as […]
Update on endorsement of rule amendments of retirement funds
In a recent communication, the Financial Sector Conduct Authority (FSCA) informed the retirement fund industry that it is in the process of finalising the endorsement of (urgent) amendments to rules of funds received […]
Tribunal overturns FAIS Ombud summary dismissal of complaint
The summary dismissal of a complaint by the FAIS Ombud was overturned by the Financial Sector Tribunal in a decision published on 30 April 2021. The complaint was dismissed by the Ombud in […]
