I-FSCA yarhoxisa ilayisenisi ye-Luvuyo’ kwinyanga yeThupha emva kokuba uthotho lwezigqibo lufumanise ukuba le nkampani ayiphumelelanga ukuhlawula amabango kwaye yasebenza ngaphandle kombhali ongaphantsi.
I-FSCA ifumanise ukuba zombini iifemu azinabuchule bokulawula umngcipheko, kubandakanywa ii-RMCPs ezinqongopheleyo, inkuthalo ephantsi yabathengi, kunye nokusilela ukuhlola ngokuchasene noluhlu lwezohlwayo.
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The recordings of the three webinars on the Return can be viewed on the FSCA’s YouTube channel.
Fraudsters are increasingly impersonating reputable financial firms and executives to lure investors.
The new Integrated Regulatory System will deliver a single, unified view of entities and support an activity-based supervisory model aligned to COFI’s principles.
As festive spending ramps up, the FSCA has issued a string of warnings about impersonators and unauthorised entities preying on consumers.
The FSCA identified serious lapses in Harith General Partners’ risk management, client due diligence, sanctions screening, and employee vetting.
The FSCA warns that fraudsters are ramping up, impersonating licensed providers, soliciting unrealistic returns, and even posing as the regulator itself.
Despite the FSCA’s findings of RMCP gaps, SCI confirms that client funds remain secure and no money laundering or terrorist financing was detected.
The Authority seeks a 4% increase in levies to fund its operating expenditure, which will rise by 9%.
In response to South Africa’s greylisting, the Authority has grown its AML/CFT team, increased on-site inspections, and ramped up fines.
Manuel’s reminder that only authorised individuals can provide financial product recommendations comes as the FSCA warns about four unlicensed entities/individuals.
The Authority will host virtual workshops and tailored sessions with industry stakeholders, who have two months to comment on the draft Return.
The FSCA revoked Luvuyo’s licence in August after a string of determinations found the firm failed to pay claims and operated without an underwriter.
Unpaid contributions rose to R7.29bn, and 62% of delinquent employers are in the motor and private security sectors, according to FSCA data.
Commissioner Unathi Kamlana is confident that within two years, arrears could be far less of a systemic problem.
