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To POPI or not to POPI
Why complying with the Protection of Personal Information should be a priority By now you have probably been targeted by a newsletter or blog from a law firm telling you to become POPI […]
The new Rules also incorporate the proposal to raise the Ombud’s jurisdictional limit from R800 000 to R3.5 million.
Read moreWhy complying with the Protection of Personal Information should be a priority By now you have probably been targeted by a newsletter or blog from a law firm telling you to become POPI […]
On 11 August 2017, the National Credit Regulator (NCR) released a media statement on the final credit life insurance regulations published under Government Gazette Notice No 103 which became effective on 10 August 2017. In […]
By Claire Gaul / Joani van Vuuren of Webber Wentzel Much has been written about the statutory obligations that are to be imposed on financial service providers in respect of their clients in […]
On 2 August 2017, the National Credit Regulator (NCR) issued a media statement to announce its intention to conduct a compliance monitoring exercise on vehicle licence and registration fees payable by consumers under […]
We reported last week on the publication of proposed amendments to the Regulations made under the Long-term Insurance Act, 1998 (“LTIA”) and the Short-term Insurance Act, 1998 (“STIA”) for public comment. This included […]
Registered credit providers should note that the long-anticipated credit life insurance regulations will come into effect on 10 August 2017 (“Commencement Date”). On 9 February 2017, the Minister of Trade and Industry, Dr Rob Davies, published the […]
In December 2016, National Treasury (NT) with the support of the Financial Services Board (FSB) published, for public comment, proposed amendments to the Regulations made under the Long-term Insurance Act, 1998 (“LTIA”) and […]
The necessity for a process to ensure that those who fall foul of the fit and proper requirements are not allowed to practice was never in question. In particular, the bad apples need […]
All National Credit Regulator (“NCR”) registrants, including credit providers, credit bureaux, debt counsellors, payment distribution agents and alternative distribution agents are obliged to pay their annual registration renewal fees by 31 July 2017. The payment […]
In a recent Appeal Board case, the FSP appealed against the FSB’s decision to debar her for five years. One of the grounds she raised was that her secretary failed to inform her […]
A FSP was suspended on 27 March 2015 for failure to submit a compliance report and not successfully completing the RE1 for key individuals. According to a recent Appeal Board decision, the FSP […]
In May 2016 we published an article titled Ombud holds insurer liable for Sharemax loss. Briefly: A Momentum representative (Marais) introduced the client to a broker (Storm) who had a Sharemax contract. The […]
Reports since the publication of this long awaited document certainly contained conflicting reports on what we can expect. Pam Saxby for Legalbrief Policy Watch notes that that references in the media to proposals […]
The Insurance Bill in its probable final form has now been published. The Bill deals essentially in prudential matters as these apply to insurers. However, there are a number of amendments to existing […]
The National Treasury presented its response to public comments received on the Insurance Bill, 2016, to Parliament’s Standing Committee on Finance in May. A copy of the Bill, as well as the presentation […]
On 15 June 2017, the Minister of Finance announced the coming into operation of a number of provisions of the Financial Intelligence Centre Amendment Act, 2017 (the FIC Amendment Act). There are two important dates […]