Urgency of the essence in BI dispute
In view of the important role that the hospitality industry plays in the economy, it is imperative that legal clarity is obtained as soon as possible. The FSCA has decided to put its […]
FSCA
Urgency of the essence in BI dispute
In view of the important role that the hospitality industry plays in the economy, it is imperative that legal clarity is obtained as soon as possible. The FSCA has decided to put its […]
FSCA Notices – Extension of various exemptions
The FSCA has released the following Notices: 1. FSCA FAIS Notice 68 of 2020 Amendment of Exemption of Certain FSPs who are Long-term Insurers or Short-term Insurers from Section 13 of the General […]
FSCA Notices – Extension of various exemptions
The FSCA has released the following Notices: 1. FSCA FAIS Notice 68 of 2020 Amendment of Exemption of Certain FSPs who are Long-term Insurers or Short-term Insurers from Section 13 of the General […]
Replacement products – Records of Advice should not be prepopulated
A recent FSCA Communication again stressed that “a provider must always act in accordance with section 2 of the General Code which requires that the provider must at all times render financial services honestly, […]
FSCA’s learning series – Helping to build a generation of financially smart individuals
Given how important financial skills are to navigating life, it is important for children from a young age to be exposed to financial lessons. One of the Financial Sector Conduct Authority’s (FSCA) flagship […]
Appointment process at FSCA reviewed – Interim Commissioner appointed
The Minister of Finance has published amendments to the Financial Sector Regulations in terms of sections 61(4), 288 and 304 of the Financial Sector Regulation Act No.9 of 2017 (FSR Act). “… weaknesses […]
Contingent Business Interruption – FSCA seeks declaratory order
Further to previous publications by the Financial Sector Conduct Authority (FSCA) on the problematic issue of Contingent Business Interruption (CBI), the Authority has now published details of its letter to non-life insurers on […]
Contingent Business Interruption – FSCA seeks declaratory order
Further to previous publications by the Financial Sector Conduct Authority (FSCA) on the problematic issue of Contingent Business Interruption (CBI), the Authority has now published details of its letter to non-life insurers on […]
Boards of Retirement Funds – Expiration of term of office not part of FSCA mandate
In a recent communication the FSCA reminded all Boards of retirement funds and their administrators of the binding force of a fund’s rules in terms of section 13 of the Pension Funds Act, 1956, […]
Tribunal reduces METCI penalty by 70% – Finds that fund did not act recklessly
The Financial Services Tribunal has just handed down its decision on an application by MET Collective Investments (Pty) Ltd (METCI) for a reconsideration of an order made by the Financial Sector Conduct Authority […]
The FSCA and Cybercrime
Cybercrime continues to evolve, with new threats surfacing every day. Last year an Accenture study revealed a huge spike in cyberattacks on all fronts – banks, Internet service providers (ISPs), utilities and ecommerce […]
Business Interruption insurance cover – FSCA raises concerns
In a media release published last week, the FSCA confirmed that the recent judgment (Café Chameleon CC v Guardrisk) is in line with its earlier communication (communication 34 of 2020) and stressed their concern […]
Final Conduct Standard for Banks – Aims to ensure fair treatment of bank customers
“The Conduct Standard for Banks is the first step towards rolling out a comprehensive market conduct regulatory framework for the banking sector. The main objective of the Conduct Standard is to introduce requirements […]
Final Conduct Standard for Banks – Aims to ensure fair treatment of bank customers
“The Conduct Standard for Banks is the first step towards rolling out a comprehensive market conduct regulatory framework for the banking sector. The main objective of the Conduct Standard is to introduce requirements […]
Crowd1 – FSCA issues warning
In a recent media release the Financial Sector Conduct Authority (FSCA) warns the public against Crowd1, an entity which is not authorised to render the financial services it is providing. “Crowd1 is neither […]
Crowd1 – FSCA issues warning
In a recent media release the Financial Sector Conduct Authority (FSCA) warns the public against Crowd1, an entity which is not authorised to render the financial services it is providing. “Crowd1 is neither […]
