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Tag Archives | Regulation

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Proposals for cryptocurrency regulation

Members of the public and impacted stakeholders have until 15 February 2019 to make submissions on policy and regulatory proposals for crypto assets. The Financial Intelligence Centre (FIC), Financial Sector Conduct Authority (FSCA), National Treasury (NT), South African Revenue Service (SARS) and the South African Reserve Bank (SARB) recently released a consultation paper on crypto […]

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Important Proposals on Regulatory Changes

Revised Draft Default Regulations on Lowering Charges and Improving Market Conduct for Retirement Funds: National Treasury today publishes a second draft of the retirement funds default regulations, made in terms of section 36 of the Pension Funds Act (No. 24 of 1956), for further and final public comment. These draft regulations will be formally gazetted […]

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Are We Experiencing Regulatory Overkill?

The head of Britain’s recently formed Financial Conduct Authority (FCA) was accused of backtracking on a promise to introduce “proportionate” red-tape on insurance brokers by the British Insurance Brokers Association (Biba), according to an article in The Independent, published on 30 December 2013. Steve White, the chief executive at Biba, told The Independent: “The issue […]

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FAIS Supervision Annual Report

The FAIS Supervision Department of the FSB supervises financial services providers (FSPs) in terms of a risk-based approach. In response to the changing face of the regulatory landscape, international trends and outcomes of previous years’ on-site visits, the department introduced a new Medium to High risk category to define the risk of non-compliance more accurately. […]

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Regulatory Overkill?

There are some who will say that rugby is not as serious as work – it is much more important. Recent incidents in the sporting world confirmed a theory also held by many esteemed people in the financial services industry, that excessive regulation is strangling the hen that lays a substantial number of golden eggs […]

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