Insurance-cover exemption extended for underwriting managers
Qualifying Category I and Category IV underwriting-manager FSPs remain exempt from the section 13 requirement, subject to the existing conditions.
FSCA
Audit report and liquidity exemption for certain FSPs renewed
Qualifying Category I FSPs that handle insurance premiums on behalf of insurers may continue relying on the existing exemption until 30 June 2029.
Private equity FAIS relief continues until 2029
Qualifying providers and certain juristic representatives will continue to benefit from targeted regulatory relief, with the existing exemption conditions unchanged.
Tribunal clarifies test for qualification exemptions
The ruling explains why exemption applications require objective statutory grounds rather than pleas for indulgence.
Funeral insurance Bill moves to Parliament, but questions persist
The proposed reforms could require significant operational changes for insurers, but industry experts believe they address only part of the problem.
FSCA provisionally withdraws Mixirite’s licence
The regulator’s concerns include alleged high-pressure sales tactics, unrealistic return promises, and inadequate disclosures to clients.
Ithala enters next phase as repayment administrator’s role comes under review
As the National Treasury-backed repayment programme for Ithala depositors nears completion, KZN Treasury says the Prudential Authority will review the repayment administrator’s role.
Tribunal draws line between enforcement powers and personal redress
The decision highlights the distinction between punishing misconduct and compensating consumers who claim to have suffered losses.
Warning against investment pitches dressed up as legitimate businesses
The FSCA identifies schemes using fake affiliations, cloned identities, and unrealistic return promises to attract funds.
Treasury proposes higher levies for 2026/27
Most FSCA levies will rise by 3.2%, but retirement funds face a 15% increase in the OPFA levy, and charges are introduced for some entities.
Preparing for COFI: ‘fair outcomes’ will be the new compliance test for FSPs
Even smaller firms will need to demonstrate fair treatment, as the regime makes proportionality a matter of scale, not exemption.
Crypto payment-type activity may fall under FAIS, say regulators
Crypto assets fall outside the NPS Act, but intermediary-led payment-type activity involving crypto may still trigger a licensing requirement.
COFI could redraw the lines of accountability in umbrella funds
COFI’s outcomes-based framework may push governance responsibility beyond trustees and require umbrella funds to prove that members are better off.
Clearer communication can prevent many motor insurance disputes
The NFO says proactive disclosure, better underwriting conversations, and stronger intermediary oversight will benefit customers and insurers alike.
FSCA warns of Telegram groups impersonating financial firms
The regulator alerts the public to scammers who are abusing the names and branding of three authorised FSPs to solicit funds.
Still short on CPD hours? MBSE suggests ready-made combinations
MBSE’s CPD combinations help advisers and FSPs to complete their annual requirements while focusing on ethics, conduct, communication, and regulatory readiness.
Retirement industry flags operational risks in dual contribution regime
IRFA says the FSCA is engaging with the Department of Employment and Labour on the issue.
