What crypto asset providers need to know about licensing, regulation
Which entities are included in the FSCA’s declaration, the transitional arrangements, and the conditions attached to the exemptions.
FSCA
Videos
Watch: FPI Financial Planner of the Year on key issues shaping the financial landscape
Animated video explains the two-pot retirement system
NCA Credit providers’ FICA obligations
NCR Desktop Audits
Is South Africa on track to getting off the grey list?
Looking back at this year’s FPI Professional’s Convention
Enhance your HR skills by attending our insightful webinars in November
Webinars on how to investigate misconduct and address poor performance
Why the FSCA brought crypto assets within the regulatory net
Not much can be done to protect people who fall for get-rich-quick schemes
Unpacking the proposed regulatory exemptions for crypto FSPs
The exemptions apply to crypto FSPs, their key individuals and representatives, and crypto asset supervised representatives
FSCA ends its 2021/22 financial year with a net deficit
The FSCA ended its 2022 financial year with a deficit of more than R4.9 million, after recording a surplus of over more than R30m in 2021, its latest annual report shows. The Authority […]
Decline in number of authorised FSPs
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. […]
Heads you win, tails I lose
South Africa is a land of stark contrasts, and one of the most visible examples is how legislation is applied differently across various sectors of the economy. The financial services industry is one […]
FSCA launches survey of FSPs’ understanding of financial soundness
Recordings of the Authority’s recent workshops on financial soundness are available on YouTube.
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 […]
Rationale for publishing the conduct standard on cell captive insurance business
The following is an extract from the FSCA’s statement explains the need for, the expected impact of, and the intended operation of the conduct standard on third-party cell captive insurance business. Enhancements to […]
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.
Tribunal upholds FSCA’s decision to withdraw asset manager’s licence
It is clear that the FSCA does not lightly withdraw an asset manager’s licence in view of the possible consequences for investors, yet there comes a time when there appears to be no […]
Akani challenges FSCA’s R2.6 million fine for late reports
The Financial Services Tribunal (FST) has told the FSCA to reconsider the penalty of R4 000 a day it imposed on Akani Retirement Fund Administrators in 2020 for not submitting reports timeously. The total […]
Regulators encourage ESG investments in the financial services industry
The FSCA is taking a number of steps to encourage retirement funds to invest in green and other ESG investments.
Bid to challenge the liquidation of transport provident fund fails
Whistleblower asserts that members’ money was stolen, although a forensic investigation found no evidence of this.
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 […]
Financial institutions may hold far more than R88bn in unclaimed assets
An estimated R88.56 billion in unclaimed assets are held by institutions across the financial sector. However, the FSCA says the amount might be far higher because there is no common understanding of what […]
FSCA sets out requirements for an FSP to be considered financially sound
The FSCA this week published a media release providing a short summary of the content covered in its financial soundness workshop for FSPs that collect premiums or hold assets. The online workshop was […]
