US financial company’s name hijacked in impersonation scam
The FSCA says the scammers are also misusing the FSP number of a Bloemfontein-based financial planning business.
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Forged IDs fuel 50% of global fraud as South Africa sees 300%-plus surge in 2024
The surge in fraud underscores the urgent need for stringent compliance measures to protect clients and maintain trust amid rising threats.
‘Investment’ scammers impersonate companies on Telegram
The FSCA also alerts the public to individuals who may be providing financial services without authorisation.
FSCA crypto licensing update: more than 240 CASPs approved
Of the 420 CASP licence applications received, nine were declined, while 106 applications were voluntarily withdrawn.
MBSE promotion on NQF qualifications closes tomorrow
Enrolling in selected NQF qualifications by 10 December will result in 50% off the first module, adding significant value to the entire course.
‘Enhanced member engagement’ yields higher inflows for Alexforbes
Profit from operations increased by 13% despite higher operating expenses attributed in part to implementing the two-pot system.
Santam to acquire stake in MultiChoice’s insurance business
Santam will pay Sanlam Life R925 million to buy 60% of the A1 ordinary shares in NMS Insurance Services.
Repeat offender hit with R1m fine and 15-year debarment
Mareo Nel resumed unauthorised forex trading despite signing an enforceable undertaking in 2021.
FSCA flags unauthorised investment schemes and funeral policies
An entity must be authorised by the FSCA and the Prudential Authority to issue insurance policies in South Africa.
FSCA slaps R2.2 million in fines on FSPs for FICA violations
The FSCA highlights the role of RMCPs in safeguarding financial institutions and the financial system after compliance breaches by two FSPs.
Sanlam partners with Ninety One in R400 billion asset deal
Ninety One will acquire Sanlam Investment Management and oversee investment management for Sanlam Investments UK.
Old Mutual reports double-digit growth in gross flows
The group’s latest trading update discloses a 19% surge in gross flows and a rebound in net client cash flows.
Sanlam sees strong growth across all business lines
The group’s new business volumes in life insurance grew by 12%, while net operational earnings rose by 17%.
Agreement can’t override an FSP’s duty to initiate debarment proceedings
The High Court rules on a former employee’s contention that the FSP’s notice of intention to debar was a breach of their settlement agreement.
CPA amendments: will financial services face stricter direct marketing rules?
Experts weigh in the impact on financial services of a proposed opt-out registry to protect consumers from unwanted marketing.
Clientèle aims to expand mass market reach with another acquisition
Following its recent purchase of 1Life, Clientèle has signed an agreement to buy micro-insurer Emerald Life.
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.
