Wrapping up 2021

Wrapping up 2021

With December 2021 now upon us and everyone planning their rest and relaxation, it’s a worthy chance to catch our breath, celebrate and appreciate the year that has been. As with the past years, 2021 has been challenging for most South Africans! Yet, we seem to...
FATF Evaluation of South Africa

FATF Evaluation of South Africa

Here are some of the key findings as contained in South Africa’s Mutual Evaluation Report released by the Financial Action Task Force (FATF) on Thursday last week. The following was taken from Extract from the 240-page report: a. The main domestic money...
FSCA Request for Information

FSCA Request for Information

The FSCA is in the process of implementing an Integrated Regulatory System (IRS). This system will enable it to integrate all regulatory and supervisory information held on FSPs, and provide a medium of displaying the profile data of institutions through the...
FSCA Annual Report

FSCA Annual Report

A delve into the FSCA Annual Report According to some analysis from Moonstone, levies from the financial services sector contributed R837 million (2020: R827m) to the FSCA’s revenue of R927m (R926m) in the year to the end of March 2021, according to the authority’s...
FSCA CPD Activities – UPDATE

FSCA CPD Activities – UPDATE

One of the Fit and Proper Requirements outcomes is to ensure that persons who render financial services have adequate, appropriate and relevant skills, knowledge, and expertise regarding the financial service, financial products, and functions that they perform. In...
Principles of Conduct of Financial Institutions Bill

Principles of Conduct of Financial Institutions Bill

Internationally, financial sector reform ( The Financial Sector Regulation Act 9 of 2017 (FSR Act) has been the focus of attention largely due to poor financial practices and limited regulatory oversight. As a result, there is a pressing need to focus on improved...
FSCA Compliance Reports

FSCA Compliance Reports

[Conduct of Business Return] The Authority set out in FAIS communication 16 of 2021 that they are developing a Conduct of Business Report (“CBR report”) that will apply to all regulated entities that will have to be submitted to the Authority on an annual basis. The...
Mandatory COVID 19 jabs for employees on the way

Mandatory COVID 19 jabs for employees on the way

Current legislation allows employers to consider whether unvaccinated employees can keep their job. According to the Consolidated Direction on Occupational Health and Safety Measures in Certain Workplaces, which was amended in June this year by the Employment &...
The positives of PoPIA

The positives of PoPIA

Businesses should embrace Popia as a ‘positive’ The Protection of Personal Information Act (Popia), which came into effect on 1 July, removes the administrative barriers that can hamper international business and positions SA as an appealing destination...