FSCA Notices – Extension of various exemptions
The FSCA has released the following Notices: 1. FSCA FAIS Notice 68 of 2020 Amendment of Exemption of Certain FSPs who are Long-term Insurers or Short-term Insurers from Section 13 of the General […]
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
Replacement products – Records of Advice should not be prepopulated
A recent FSCA Communication again stressed that “a provider must always act in accordance with section 2 of the General Code which requires that the provider must at all times render financial services honestly, […]
FSCA’s learning series – Helping to build a generation of financially smart individuals
Given how important financial skills are to navigating life, it is important for children from a young age to be exposed to financial lessons. One of the Financial Sector Conduct Authority’s (FSCA) flagship […]
Appointment process at FSCA reviewed – Interim Commissioner appointed
The Minister of Finance has published amendments to the Financial Sector Regulations in terms of sections 61(4), 288 and 304 of the Financial Sector Regulation Act No.9 of 2017 (FSR Act). “… weaknesses […]
Contingent Business Interruption – FSCA seeks declaratory order
Further to previous publications by the Financial Sector Conduct Authority (FSCA) on the problematic issue of Contingent Business Interruption (CBI), the Authority has now published details of its letter to non-life insurers on […]
Contingent Business Interruption – FSCA seeks declaratory order
Further to previous publications by the Financial Sector Conduct Authority (FSCA) on the problematic issue of Contingent Business Interruption (CBI), the Authority has now published details of its letter to non-life insurers on […]
Boards of Retirement Funds – Expiration of term of office not part of FSCA mandate
In a recent communication the FSCA reminded all Boards of retirement funds and their administrators of the binding force of a fund’s rules in terms of section 13 of the Pension Funds Act, 1956, […]
Tribunal reduces METCI penalty by 70% – Finds that fund did not act recklessly
The Financial Services Tribunal has just handed down its decision on an application by MET Collective Investments (Pty) Ltd (METCI) for a reconsideration of an order made by the Financial Sector Conduct Authority […]
The FSCA and Cybercrime
Cybercrime continues to evolve, with new threats surfacing every day. Last year an Accenture study revealed a huge spike in cyberattacks on all fronts – banks, Internet service providers (ISPs), utilities and ecommerce […]
Business Interruption insurance cover – FSCA raises concerns
In a media release published last week, the FSCA confirmed that the recent judgment (Café Chameleon CC v Guardrisk) is in line with its earlier communication (communication 34 of 2020) and stressed their concern […]
Final Conduct Standard for Banks – Aims to ensure fair treatment of bank customers
“The Conduct Standard for Banks is the first step towards rolling out a comprehensive market conduct regulatory framework for the banking sector. The main objective of the Conduct Standard is to introduce requirements […]
Final Conduct Standard for Banks – Aims to ensure fair treatment of bank customers
“The Conduct Standard for Banks is the first step towards rolling out a comprehensive market conduct regulatory framework for the banking sector. The main objective of the Conduct Standard is to introduce requirements […]
Crowd1 – FSCA issues warning
In a recent media release the Financial Sector Conduct Authority (FSCA) warns the public against Crowd1, an entity which is not authorised to render the financial services it is providing. “Crowd1 is neither […]
Crowd1 – FSCA issues warning
In a recent media release the Financial Sector Conduct Authority (FSCA) warns the public against Crowd1, an entity which is not authorised to render the financial services it is providing. “Crowd1 is neither […]
Business Interruption Insurance – FSCA cracks the whip
FSCA Communication 34 of 2020 contains details of the Regulator’s views on the contentious issue of business interruption (BI) insurance in the wake of Covid-19. In virtually all cases, insurers denied liability. In […]
Proposed levies on Financial Institutions – FSCA requests comments
The FSCA has called for input by 31 July 2020 on proposed levies for the 2020/21 financial year to be imposed on several affected institutions. This includes: ● pension funds, their administrators and adjudicators; ● […]
Taking charge of finances – FSCA provides consumer education video tools
As the nation deals with the COVID-19 pandemic and its impact, it is an important time for South Africans to take charge of their finances. The FSCA has compiled a series of videos […]
