Tag Archives | NCA

Debarment Overturned

Further Panel Beating to Debt Relief Bill likely

Following our article published on 7 December 2017, dealing with the Draft National Credit Amendment Bill, 2018 (the Bill), the Portfolio Committee on Trade and Industry held their public hearings on 30, 31 January and 2 February 2018, where various stakeholders within the credit industry presented their submissions to the committee members. According to a media statement by the National Assembly’s […]

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National Credit Regulator Fee Guideline

We published an article on 16 November 2017 titled Insurer Obligations re Credit Reports which dealt with the National Credit Regulator’s (NCR) guideline for the submission of credit information and indicated that a fee structure would be published in December 2017. NCR have now published its fee guideline and schedules relating to the above for comment. The […]

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Credit Regulator Cracks down again

The National Credit Regulator (NCR), in a media release on 24 October 2017, also issued a compliance notice to Volkswagen Financial Services South Africa (Pty) Ltd (VW) for charging consumers an on-the-road fee, admin fee and handling fee under its credit agreements. This followed after BMW Financial Services (BMW) received a similar compliance notice on 5 October 2017. In […]

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NCR Alert for Vehicle Financiers and Dealers

On 2 August 2017, the National Credit Regulator (NCR) issued a media statement to announce its intention to conduct a compliance monitoring exercise on vehicle licence and registration fees payable by consumers under credit agreements. The purpose of the exercise is to determine whether credit providers do not charge consumers more than the actual licence […]

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Annual NCR registration fees due 31 July

All National Credit Regulator (“NCR”) registrants, including credit providers, credit bureaux, debt counsellors, payment distribution agents and alternative distribution agents are obliged to pay their annual registration renewal fees by 31 July 2017. The payment of the registration renewal fees changed on 11 May 2016 when the Minister, Dr Rob Davies, published the final regulations on the determination of […]

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Credit Provider Registration

The article below was written by Janine Will, Senior Associate in the Commercial Department of Garlicke & Bousfield Inc, and published in Commercial Law News. The current legal requirement that only those credit providers that have a total principal debt owed to them, under all outstanding credit agreements, other than incidental credit agreements, exceeding R500,000 […]

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Moonstone Training Opportunities

Align your training and development needs with the Regulator’s drive towards professionalization by making use of the services listed below. Just click on the title for more information. FURTHER EDUCATION AND TRAINING: SHORT-TERM INSURANCE (NQF4) This qualification covers Short Term Insurance related learning and provides a framework for learners to develop competencies that will give […]

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Q & A on Cambist

We regularly receive enquiries from readers about Cambist, who offers a return of 19.5% on investments. For all practical purposes, it appears that they act as an aggregator between the public and certain investment opportunities. We took a look at their website and found the following information: Cambist offers two products: (click on this link […]

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Opleiding – Nasionale Kredietwet (NCA)

Ons het baie navrae, veral van lesers in die motorhandel, oor hierdie ingewikkelde wetgewing ontvang. In reaksie het ons ‘n kursus ontwikkel om die behoefte aan te spreek.  Die eerste kursus word reeds op 17 Oktober op Stellenbosch aangebied. Ons hoor graag van lesers in ander areas – as daar voldoende belangstelling is, kan ons […]

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