Insurers face a more demanding liquidity framework
The draft standard replaces the existing liquidity risk assessment standard with more comprehensive requirements for managing, monitoring, and reporting liquidity risk.
PA
FICA penalties for three financial institutions total R35.6m
The sanctions against Capitec, Ninety One Assurance, and Albaraka arose from inspections conducted between 2021 and 2023.
New IT and cyber incident reporting template now in effect
The reporting framework requires financial institutions to assess materiality promptly and provide regulators with information even while an incident is being investigated.
Proposed beneficial owner rules bring fresh scrutiny for financial institutions
Institutions will have to identify and verify owners, assess their honesty and integrity at least every two years, and report beneficial-owner information to regulators.
PA proposes higher levies despite budget reduction
The provisional 3.7% increase is based on projected inflation for 2027 and will be revised using the applicable Stats SA CPI measure.
15 years on, TVI scheme still casts a long legal shadow
A couple’s joint estate has been finally sequestrated after the High Court rejected several challenges to the Prudential Authority’s case.
COFI at the heart of FSCA’s 2026 regulation plan
The Authority’s three-year roadmap also outlines upcoming reforms affecting financial markets, retirement funds, payment services, and cross-sector regulation.
Prudential Authority warns of AI-accelerated cyber attacks
Financial institutions must move beyond monitoring and focus on resilience, containment, and recovery under compressed timelines.
PA publishes revised public disclosure standard for insurers
The revised draft standard sets out detailed qualitative and quantitative public disclosure requirements and is open for comment.
Regulators step in as AI adoption exposes new financial risks
As AI-driven incidents increase, insurers face mounting pressure to replace implicit cover with explicit policies tailored to new technological risks.
Tribunal upholds PA decision on bank’s ‘simulated’ capital transaction
The FST dismisses African Bank’s application to overturn a directive to reverse a R685m intra-group transaction, finding it lacked commercial substance.
Transitional delegations under the FSRA pushed to 2028/29
New end-dates extend the temporary allocation of certain supervisory duties to the FSCA and PA while regulatory frameworks are finalised.
FSCA and PA publish comprehensive study into AI use in financial sector
The regulators will issue a discussion paper to clarify governance, disclosure, and consumer-protection expectations.
PA fines Discovery Bank R3m for FICA compliance failures
A 2021 inspection found late submission of suspicious activity reports, inadequate staff training, delayed monitoring responses, and shortcomings in the bank’s RMCP.
PA publishes its proposed levy and fee increases for 2026/27
The Authority expects to reduce its budget deficit by 28%, driven by a 3.3% revenue uplift and planned cost-cutting measures to streamline operations.
Authorities developing Joint Standard on cloud computing and data offshoring
The FSCA and PA publish recommended best practices, urging financial institutions to adopt a risk-based approach aligned with their size and complexity.
FSCA publishes 2025–2028 Regulation Plan to guide financial sector reform
A top priority is supporting National Treasury in finalising COFI and rolling out the themed frameworks.
