Relief at last: Ithala depositors can access frozen funds from 8 December
Treasury’s R2.2bn intervention ends an 11-month account freeze, unlocking payouts for Ithala’s 257 000 depositors while the liquidation case continues.
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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.
High Court rules on SARS’s R5.3bn claim against Sasfin Bank
The judgment dismissed parts of Sasfin’s exceptions and left SARS’s statutory claim under the Financial Sector Regulation Act to proceed.
Regulators invite comment on draft IT and cyber incident reporting rules
Financial institutions subject to Joint Standards 1 of 2023 and 2 of 2024 are asked to provide feedback by 5 October 2025.
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.
SARB moves to liquidate community bank
Ditsobotla is in worse financial shape than previously thought, and the resolution process is unlikely to turn things around.
Court slaps Ithala for ignoring warnings, upholds repayment administrator’s authority
The High Court says the state-owned financier must comply with deposit controls while awaiting the Supreme Court of Appeal’s ruling.
Community-owned bank placed in resolution as SARB steps in
Ditsobotla co-operative bank has been placed in resolution after the SARB cited regulatory breaches, financial losses, and governance failures.
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.
Ithala warns court ruling could shut bank before liquidation appeal
The repayment administrator and the Prudential Authority appealed a High Court ruling that allowed Ithala to continue operating while liquidation proceedings are pending.
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.
Prudential Authority sanctions three banks for FICA breaches
HBZ was fined an effective R7.5m, Citibank’s fine was fully suspended, and Bank of Taiwan was reprimanded.
Updated | Dates for workshops on funeral insurance regulations
Roleplayers in the funeral industry can book for an online workshop hosted by the FSCA and the Prudential Authority.
Compliance trumps empowerment: decision to deregister co-operative bank upheld
The Tribunal agrees with the Prudential Authority that Women Building our Africa failed to meet the registration conditions and governance benchmarks.
Loans to settle divorce settlement sink microlender’s mutual bank application
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.
Restarting Ithala: inside the legal tug-of-war over SA’s ‘state bank’
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.
