
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.
A top priority is supporting National Treasury in finalising COFI and rolling out the themed frameworks.
HBZ was fined an effective R7.5m, Citibank’s fine was fully suspended, and Bank of Taiwan was reprimanded.
Roleplayers in the funeral industry can book for an online workshop hosted by the FSCA and the Prudential Authority.
The Tribunal agrees with the Prudential Authority that Women Building our Africa failed to meet the registration conditions and governance benchmarks.
The proposed CEO breached the Companies Act by allowing another company of which he was the sole shareholder to advance loans to him while it was insolvent.
After months in limbo, Ithala resumes limited operations – but its revival faces steep legal and regulatory challenges as the battle over its liquidation and banking status intensifies.
Ithala has been cleared to resume core operations – excluding deposit-taking – while legal battles over its liquidation and frozen R2.47bn in deposits continue.
The Minister of Finance’s bailout plan for Ithala’s retail depositors has drawn sharp criticism from KZN’s Finance MEC Francois Rodgers, who warns the deal’s fine print could leave the province footing a hefty bill.
Ithala depositors remain locked out of their funds while disputes over frozen accounts, strategic alliances, and government guarantees deepen.
Absa was fined R7m for inadequate customer due diligence and R3m for delays and closures of transaction monitoring alerts.
Financial institutions that proactively embed governance, technology, and culture to meet evolving regulatory standards will not only avoid penalties but also strengthen credibility, build resilience, and drive long term value.
The High Court confirms a Tribunal decision that the appointment of directors of insurance companies can be regularised retrospectively. It underscores that section 14 of the Insurance Act does not require the Prudential Authority’s pre-approval.
The judgment confirms that the Tribunal acted within its authority when it reduced a penalty imposed by the Prudential Authority on two state-owned insurers.
With Joint Standard 2 on cybersecurity coming into force on 1 June, the Prudential Authority emphasises the need for financial institutions to bolster resilience, share intelligence, and prepare for inevitable cyberattacks.
The PA shared an update on the six workstreams focused on the transition, confirming that they will be ready to regulate CISs and retirement funds by 1 April 2026.
The minister’s address to the FSCA conference also touched on regulation, South Africa’s G20 presidency, political tensions over the Budget, and economic growth.
The PA and the repayment administrator accuse Ithala of operating unlawfully – comparing its actions to a Ponzi scheme. Ithala argues the freezing of depositors’ accounts is a calculated manoeuvre designed to collapse its operations.
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