FSP loses bid to halt investigation and lift licence suspension
The FSCA’s decision to investigate Anova Wealth and suspend its licence remains in effect after the Tribunal declined the FSP’s applications for reconsideration.
FSCA
ASISA rejects proposed ‘dualistic nature’ of CIS portfolios
ASISA warns that reclassifying collective investment scheme portfolios as profit-making schemes will undermine years of established investment policy.
Tribunal upholds FSCA’s sanctions for unauthorised advice
FSPs must ensure their representatives operate strictly within their authorised product categories and according to the client’s mandate.
How climate change could erode your retirement savings – actuaries sound the alarm
Despite record-breaking global temperatures and escalating climate risks, most South African retirement funds lack climate policies – raising concerns about the long-term sustainability of their investments.
FSCA eyes DeFi: testing the waters for smarter crypto regulation
As South Africa’s decentralised finance market gains traction, the FSCA is exploring ways to balance innovation with consumer protection.
FAIS Ombud orders funeral home to pay R20 000 claim after failed cover
Lebohang Funeral Home left policyholders exposed by failing to secure underwriting, misleading clients about their coverage, and refusing to pay a valid funeral claim.
Deepfake deception and social media scams: the seductive face of investment fraud
From impersonating financial institutions to AI-generated videos of trusted figures, fraudsters are exploiting technology and social networks to steal investors’ hard-earned money.
Scammers impersonate credit providers on loan applications
FSCA also warns about unauthorised funeral policies being sold by a company in the Western Cape.
SA won’t get off the grey list in June – Treasury now aiming for October
South Africa is yet to demonstrate ‘sustained effectiveness’ in investigating and prosecuting serious money laundering and terrorist financing activities
Still scheming? Cobus Geldenhuis caught in new fraud allegations despite debarment
Despite a 20-year debarment, a R143m fine, and even losing a leg in a motorcycle accident, Cobus Geldenhuis is allegedly still defrauding investors under a new alias.
FSCA wants to know number of personal lines claims in 2024
The information will help the Authority to monitor the extent to which insurers are delivering fair outcomes for consumers.
PA report contradicts Ithala and KZN Treasury’s solvency claims
A PA-commissioned solvency report questions Ithala’s financial health, raising concerns about its equity, loan book, and potential shortfall in repaying depositors.
Warning of impersonation scam involving Nampak
The FSCA also advises the public to be cautious of World Option Crypto and JoziEx.
Funeral home fined R11.4m for unauthorised insurance business
The two directors were debarred for 20 and 10 years, respectively.
Removal firm fined for offering insurance without authorisation
The FSCA fines Kings International Removers R1.1 million and debars its owner for eight years.
FSCA fines funeral service R4.4m for unauthorised insurance operations
The two directors of Hernell Funerals have been debarred for 10 years and five years, respectively.
Latest warnings against unauthorised operators soliciting ‘investments’
The FSCA has issued warnings about individuals and entities promising unrealistic returns while lacking the required authorisation to offer financial services.
