Changes to aspects of FAIS Ombud’s approach to handling complaints

The new Rules also incorporate the proposal to raise the Ombud’s jurisdictional limit from R800 000 to R3.5 million.

Trustco takes the JSE to the tribunal for a second time

Meanwhile, the High Court dismisses Trustco’s bid to have the FST’s November 2021 decision reviewed and set aside.

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Why South Africa provides a fertile ground for funders of terrorism

The deficiencies in dealing with terrorism financing are putting the country at risk of being grey-listed.

MBSE has an online solution for your CPD needs

Our CPD subscription packages are ideal for corporate FSPs that want to ensure their KIs and reps comply with the required CPD hours.

FSCA publishes conduct standard on third-party cell captive insurance business

The FSCA has published a conduct standard setting out the requirements relating to third-party cell captive insurance business. Conduct Standard 2 of 2022 (INS) came into operation on 1 October and applies immediately […]

FAQ document for Constantia Insurance policyholders looking for answers

Unfortunately, the answers, including those where vehicles are at repair shops, will probably not bring them much cheer.

Deadline for submissions on omnibus anti-money laundering bill

The National Assembly’s Standing Committee on Finance has announced the deadline for written submissions on the General Laws (Anti-Money Laundering and Combating Terrorism Financing) Amendment Bill, which amends five pieces of legislation. Read: […]

FSCA proposes a central fund to tackle R88bn in unclaimed assets

The FSCA has proposed establishing a single central unclaimed assets fund into which all unclaimed assets should be transferred. This is one of 13 recommendations in its discussion paper on unclaimed assets, which […]

Second GBS death linked to J&J’s Covid vaccine

The South African Health Products Regulatory Authority (Sahpra) has confirmed a second fatal case of Guillain-Barré syndrome (GBS) following vaccination with Johnson & Johnson’s Covid-19 vaccine. Last month, Sahpra reported South Africa’s first […]

FSCA extends professional indemnity and fidelity insurance exemptions

The FSCA last week published two notices relating to the guarantee, professional indemnity (PI) and fidelity insurance (FI) exemptions granted to certain types of FSPs. The FSCA has once again extended, to 31 […]

FIC publishes risk management and compliance programme guide for smaller non-financial entities

The Financial Intelligence Centre (FIC) has published a document to guide designated non-financial businesses and professions (DNFBPs) in developing and implementing their risk management and compliance programmes (RMCPs). Public Compliance Communication (PCC) 53 […]