Court backs FST’s decision to scale down penalty for insurance breach
The judgment confirms that the Tribunal acted within its authority when it reduced a penalty imposed by the Prudential Authority on two state-owned insurers.
STIA
Proposed Regulatory Amendments Update
In December 2016, National Treasury (NT) with the support of the Financial Services Board (FSB) published, for public comment, proposed amendments to the Regulations made under the Long-term Insurance Act, 1998 (“LTIA”) and […]
"MyLawyer” Settles with Enforcement Committee
The FSB published details of a settlement reached with a company trading as “MyLawyer” (the respondent) who acknowledged that it had contravened section 7(1)(a) of the Short-term Insurance Act (STIA). From November 2011, […]
