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Tag Archives | New

NCA

New National Credit Amendment Act – Study highlights negative impacts

Earlier this week, parliament’s Portfolio Committee on Trade and Industry was briefed on the new National Credit Amendment Act. As part of the briefing, parliament received a socio-economic impact assessment study (SEIAS) on how the act will impact banks, government and consumers. The socio-economic impact assessment was conducted by Genesis Analytics. Fin24 reported that the […]

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POPIA

New POPIA regulations – Law firm sheds some light

The new regulations to the Protection of Personal Information Act have been published in December 2018. However, these Regulations will only come into effect on a date to be determined by the Information Regulator. The aim of the POPI Act is to protect consumers from harm by protecting their personal information. In terms of the POPI […]

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RE-pencil

New Fit and Proper Regulatory Exam Requirements

Board Notice 194 of 2017 contains the latest information on who should write which exams. The competence requirements relating to regulatory examinations determine that all FSPs, key individuals and representatives should write and pass the relevant regulatory exam, as indicated in the table below: Column A (Category I) Column B (Category II) Column C (Category […]

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insurance

New Credit Life Insurance Regulations from 10 August

Registered credit providers should note that the long-anticipated credit life insurance regulations will come into effect on 10 August 2017 (“Commencement Date”). On 9 February 2017, the Minister of Trade and Industry, Dr Rob Davies, published the final credit life insurance regulations under Government Gazette Notice No 103, in the Government Gazette No 40606 of 2017(“Regulations”). The Regulations will only […]

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finance

New advertising standards for investment policies only

Chapter 4 of the proposed new Policyholder Protection rules contains details regarding advertising standards specifically applicable to investment business. No projected benefits (including but not limited to maturity, income, death, disability or (partial) surrender benefits) may be included in advertisements, brochures or similar communications if the policy benefits depend on future unknown investment performance, unless […]

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