FSCA signals delay to Omni pilot as rollout reaches ‘inflection point’
Officials outline key supervisory areas affecting financial institutions, with a focus on governance, AML controls, cyber resilience, and consumer-facing risks.
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FSCA publishes final Conduct Standard for benefit administrators
A breakdown of the provisions that are in effect now, and those that come into operation in six or 12 months.
Two-pot’s billion-rand bill: future fund members could carry the cost
The FSCA finds wildly inconsistent withdrawal charges under the two-pot retirement system, with some members paying up to R750 per transaction.
Updated regulatory framework aims for ‘fair customer outcomes’ in pension administration
The Conduct Standard outlines a series of updated requirements for benefit administrators, including governance enhancements, risk management protocols, and processes for ensuring fair outcomes for fund members and beneficiaries.
R300m a year: the price tag of administering the two-pot system
The FSCA is evaluating whether administration fees are reasonable. If it believes they are not, it will explore whether it is necessary to cap or regulate fees.
FSCA wants to know how much two-pot withdrawals are costing members
The Authority is seeking information on how much it costs retirement funds and administrators to adapt their systems for the new two-pot structure.
Final countdown for administrators and employers to prepare for the two-pot system
Discovery Corporate and Employee Benefits provides a checkist of what employers should be doing before 1 September.
