Supreme Court of Appeal dismisses challenge to the procedural fairness of sections of the FSR Act
It was argued that the Act does not require the FSCA to invite submissions before deciding whether a person has contravened a financial sector law.
Financial Sector Regulation Act
Penalties loom for non-compliance with OPFA information requests
OPFA 2022-2023 Annual Report annual report highlights key determinations in pension administration law.
When are levy payments to the FSCA due?
FSPs can expect to receive their assessment notice this month.
Ombud Council publishes new FAIS Ombud Rules for comment
The Rules increase the limit on the compensation the Ombud can award complainants and provide for changes to the Office’s jurisdiction and procedures.
Ombud Council’s 2024/25 budget reflects shift to operational independence
Bridging finance from National Treasury may not be required now that it has certainty of receiving levy and special levy income.
Tribunal and PA failed to address ‘whistleblower’s’ applications properly
Judge says the FST did not follow a fair procedure when it summarily dismissed the reconsideration application.
Ombud Council wants to avoid another property syndication complaints scenario
The problems with resolving these complaints also highlight the need to integrate the advice- and the product-related ombud schemes.
Single Financial Ombudsman scheme set to go live in 2024
The amalgamated scheme will later include the FAIS Ombud and the JSE Ombud.
FST ruling has ‘far-reaching implications’ for trustees, principal officers, says FSCA
The decision sets out how PSSPF board members racked up fees for meetings and ignored the fund’s procurement policy.
Rep debarred for sharing client information while on garden leave
She alleged the evidence of her conduct was obtained through an ‘unlawful search’ of her personal email account.
Tribunal may accept late reconsideration applications if good cause is shown
This case is an example of what good cause is not.
Ex-employees implicated in MyMo accounts scandal take debarments to the tribunal
Former Standard Bank staff contend that the FAIS Act did not apply to their debarment and conduct.
Why the tribunal didn’t send this debarment decision back to the FSP
FST’s decision reveals a litany of problems with the procedure followed.
Easier winding-up process for retirement funds that decide to go into liquidation
FSCA implements notice exempting funds from certain qualifying criteria in Board Notice 75.
FSCA fines Globex for unauthorised ODP activities
The contraventions were a result of a misinterpretation of the legal position.
When the new anti-money laundering provisions take effect
Proclamation Notice sets the commencement dates for the sections that amend five Acts of Parliament.
Tribunal slashes penalties imposed on the Land Bank’s insurance companies
Prudential Authority fined them an effective R2.688m for contraventions of the Short-term Insurance Act and the Insurance Act.
