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Authority highlights regulatory focus areas in 2024
FSCA pinpoints lack of oversight by KIs, FICA non-compliance, and unauthorised copy trading and funeral insurance business.
Clients whose financial habits have been moulded by sound advice over many years are unlikely to act irresponsibly now, says Fairbairn’s Guy Holwill.
Read moreFSCA pinpoints lack of oversight by KIs, FICA non-compliance, and unauthorised copy trading and funeral insurance business.
The decision clarifies the boundaries and regulations concerning reinsurance business conducted through cell captive structures.
The Authority instructs Hernell Funerals to cease operating as an unauthorised FSP and insurer.
One of the businesses admitted to issuing more than 4 000 policies and collecting R14 million in premiums without having a licensed underwriter.