The FSCA is taking regulatory action against past and present trustees of the Private Security Sector Provident Fund (PSSPF) after concluding its three-year investigation into the board. In a statement, the FSCA said […]
The majority of South Africans who used the services of an independent financial adviser (IFA) have told a survey that they were either “satisfied” or “very satisfied” with the advice they received. This […]
The Financial Services Tribunal (FST) has dismissed an application by an umbrella fund member who was aggrieved by the FSCA’s decision to exempt the fund from the full liquidation requirements in the Pension […]
Akani Retirement Fund Administrators says it intends to take legal action following what it called the FSCA’s “unlawful” search and seizure operation at its premises. It said this action would include applying to […]
The FSCA has published a draft notice setting out the conditions under which collective investment scheme (CIS) managers will be exempt from some of the requirements of the Collective Investment Schemes Control Act […]
The FSCA says it is investigating Nirvesh Financial Services (Pty) Ltd and Veracity Markets (Pty) Ltd for allegedly conducting unauthorised over-the-counter (OTC) derivative business and for possible breaches of other financial sector laws. […]
The FSCA has issued a draft guidance notice aimed at clarifying when intermediaries can be remunerated after a pension interest has been transferred between retirement annuity (RA) funds. The draft guidance notice has […]
The FSCA is proposing to increase the FAIS Ombud’s compensation limit from R800 000 to R3.5 million. In a communication published this week, the FSCA said the proposal is the result of a recommendation […]
Pending regulations flowing from the Retail Distribution Review (RDR) will not be processed in their current form but will be incorporated into new regulations that will developed under the Conduct of Financial Institutions […]
The FSCA has provided an update on how it is progressing with a number of regulatory frameworks that will apply across the financial services sector, including to FSPs. The details are contained in […]
The FSCA’s “Regulation Plan: 1 April 2022 to 31 March 2025”, which was released last week, highlighted certain high-priority areas that it aims to address in this period. Mark Bechard of Moonstone reports […]
Scammers continue to defraud people by claiming they can issue certificates – for a fee, of course – for the FSCA’s regulatory exams. In September last year, we exposed individuals operating on social […]
The process involved in replacing the old compliance reports, which were last required for the 2017 financial year, reminds me of a joke in a rag magazine, many years ago, about a new […]
The FSCA has told retirement funds and fund administrators to submit information about their paid-up members, setting a deadline of 31 October for information relating to new paid-up members. In March, the FSCA […]
The FSCA cannot debar someone indefinitely – the FAIS Act requires a time limit, the Financial Services Tribunal (FST) said when it set aside this aspect of a debarment order and told the […]
The FSCA and Ravensberg Advisory and Consulting Services have reached an agreement in terms of which 65% of the penalty the Authority imposed on the Cape Town-based tax, advisory and consulting company will […]
The FSCA has published a roadmap for the implementation of the cross-sectoral conduct of business returns (Omni-CBR), as well as the draft Omni-CBR template for public consultation. The Authority said the Omni-CBR is […]
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