Uncloaking the mysteries of financial sector penalties
The huge penalties imposed by the FSCA and the Prudential Authority raise questions about the clarity and consistency of the factors influencing these fines.
The huge penalties imposed by the FSCA and the Prudential Authority raise questions about the clarity and consistency of the factors influencing these fines.
Key proposed amendments include imposing fines for non-compliance, enhancing the Information Regulator’s authority to issue directives, and introducing search-and-seizure powers.
The FIC’s latest annual report shows that out of 558 inspections conducted during the year, 269 specifically targeted the non-submission of risk and compliance returns.
The Information Regulator gives feedback on cases tackled this year against various public entities to enforce compliance with PAIA and POPIA.
The Information Regulator’s upcoming guidance note clarifies that direct marketing via phone calls falls under POPIA’s consent requirements.
Authority releases report on fines, debarments, investigations, and licence suspensions and withdrawals in 2023/24.
The Authority warns key individuals not to associate their names with ODP operators without knowing how they are conducting their business.
The number of FSP licence approvals was the lowest in the past three years.
The number of authorised FSPs declined by 1.12% between 2021 and 2022, despite the FSCA approving more FSPs this year, the Authority’s annual report for the year to the end of March shows. […]
– New faces and new powers In Afrikaans there is a saying:“nuwe besems vee skoon” – “new brooms sweep clean” which implies that new employees often bring change or renewal to business. Is […]
– New faces and new powers In Afrikaans there is a saying:“nuwe besems vee skoon” – “new brooms sweep clean” which implies that new employees often bring change or renewal to business. Is […]