Forged IDs fuel 50% of global fraud as South Africa sees 300%-plus surge in 2024
The surge in fraud underscores the urgent need for stringent compliance measures to protect clients and maintain trust amid rising threats.
FSPs
Temporary RE exemption for crypto FSPs extended
The Authority gives crypto asset service providers a seven-month reprieve.
Accountable institutions given final deadline for DPI
Following widespread challenges with its e-portal, the FSCA has re-opened submissions for its Directive to Provide Information.
FSCA announces proposed levy increase for 2025/26
The increase is below the 6% CPI-related increase permitted by the Levies Act.
Exam fraud: FSCA urges financial firms to verify RE certificates
FSPs have a statutory obligation to combat exam fraud by verifying certificates directly with Moonstone or the FSCA.
Markus Jooste among major offenders as FSCA fines surge
The Authority suspended 1 061 FSP licences in 2023/24, primarily for non-compliance with statutory returns.
Alexforbes reinvents adviser partnerships: a strategic shift to empower best advice
Alexforbes is enhancing its relationships with independent advisers through targeted partnerships and a focus on building trust and value.
MBSE’s top achievers balance work and study in financial planning
Emily Broodryk, Rion Malan, and Francois Mostert share why they found it rewarding to study for the Higher Certificate in Wealth Management at MBSE.
FAIS Ombud clarifies remarks about consumers’ trust in their advisers
Trust is an essential element in the relationship between advisers and consumers, who have a responsibility to verify aspects of their adviser’s credentials and standing, says the Financial Planning Institute.
Temporary RE exemption for crypto FSPs expires in three months
FAIS Notice 25 of 2023 exempts crypto asset FSPs and KIs from the regulatory examination requirements for 18 months.
Consumers should inform themselves before they transact, says FAIS Ombud
The Office has sorted out the ‘embarrassing’ backlog of cases John Simpson inherited and has set timeframes for resolving complaints.
Certain FSPs and CIS managers must provide information about FICA compliance
The DPI applies to all FSPs excluding FSPs that are exclusively authorised to render financial services in respect of non-life insurance and/or health service benefits.
Insurance brokers ordered to pay R300 000 after failing to disclose crucial policy requirement
Insurance brokers are much more than ‘a mere conduit or post-box’, as per the General Code of Conduct, their duties and responsibilities extend far beyond that, the FAIS Ombud says.
Hassle-free FSP levy calculator
Just enter one or two numbers – the spreadsheet does the rest.
FSCA workshops on irregularity reports and funeral parlour FSPs
Attendance is limited to the first 1 300 people who register.
FSCA launches survey of FSPs’ understanding of financial soundness
Recordings of the Authority’s recent workshops on financial soundness are available on YouTube.
FSCA sets out requirements for an FSP to be considered financially sound
The FSCA this week published a media release providing a short summary of the content covered in its financial soundness workshop for FSPs that collect premiums or hold assets. The online workshop was […]
