Draft policy reframes financial education as a core conduct requirement
National Treasury’s draft framework signals tighter expectations for how firms deliver, integrate, and measure financial education.
TCF
FSCA’s financial education Conduct Standard comes into force
With the transition period now over, financial institutions that offer education initiatives must align with the FSCA’s requirements on governance, evaluation, and accountability.
Financial inclusion high, financial health low: insurers face outcomes test
With only 16% of South Africans financially healthy, insurers are being pushed to prove that products deliver real value when customers need them most.
How insurers can anchor consumers in a changing risk landscape
Rapid, transparent claims processing and simplified policy wording are key to building trust. Firms that demonstrate protection consistently can contribute to a resilient market.
A way out sought for consumers stuck in debt counselling
The National Debt Counselling Association is pushing for a regulated mechanism to remove consumers from incomplete debt counselling caused by life-changing events.
Umboneleli Womngcwabo unyusa izigwebo ezilishumi elinambini (12) ze-FAIS Ombud ngokuchasene nayo
I-FSCA yarhoxisa ilayisenisi ye-Luvuyo’ kwinyanga yeThupha emva kokuba uthotho lwezigqibo lufumanise ukuba le nkampani ayiphumelelanga ukuhlawula amabango kwaye yasebenza ngaphandle kombhali ongaphantsi.
New era for fund administration: unpacking Conduct Standard 2
Trustees and administrators face a modernised regulatory framework designed to raise standards, strengthen accountability, and ensure fair outcomes for members.
NDCA pushes for fit and proper requirements for debt counsellors
The Association’s proposal will embed COFI’s principles and the TCF outcomes into debt-counselling practice.
Move to two-pot system drives jump in complaints to the Adjudicator
Outgoing Adjudicator Muvhango Lukhaimane says the system has laid bare long-standing non-compliance with section 13A of the Pension Funds Act.
Funeral provider racks up 12 FAIS Ombud rulings against it
The FSCA revoked Luvuyo’s licence in August after a string of determinations found the firm failed to pay claims and operated without an underwriter.
Luvuyo Burial hit with three more Ombud rulings over unpaid funeral claims
The funeral provider has faced repeated determinations this year after failing to settle valid claims.
COFI is coming – and FSPs can’t afford to wait
Early preparation for COFI will give firms a competitive edge and help to avoid the compliance scramble seen during FAIS implementation.
FSCA probes complaint processes amid surprisingly low filing rates
A survey shows that only 8% of consumers lodged complaints with financial institutions between 2021 and 2023. Does this figure reflect genuine satisfaction or signal barriers in the complaint process?
Banks apply winning formula during Covid crisis
“As at 24 October 2020, banks had provided over R50 billion in financial relief to South African businesses and individuals who are financially distressed due to the Covid-19 pandemic and national lockdown – […]
Consumer rights month – Regulator puts client at the centre
March is officially Consumer Rights Month. “Through laws such as the Financial Services Regulatory Act (FSRA), the Financial Advisory and Intermediary Services Act (FAIS), the Treating Customers Fairly (TCF) approach as well as […]
FAIS Ombud Annual report highlights the need for TCF
During the 2019/2020 financial year the Office of the FAIS Ombud received a total of 8835 new complaints – a reduction of 5.23% from the 9323 received during the 2018/2019 financial year and […]
FAIS Ombud Annual report highlights the need for TCF
During the 2019/2020 financial year the Office of the FAIS Ombud received a total of 8835 new complaints – a reduction of 5.23% from the 9323 received during the 2018/2019 financial year and […]
