FSCA’s contingency plan: navigating COFI delays and licensing overhaul
The FSCA is preparing for the massive task of migrating about 12 500 financial services providers into the new COFI framework.
#UnathiKamlana
FSCA discloses approach to regulating a rapidly changing financial sector
Unathi Kamlana says the Authority will support the integration of advanced technologies and strengthen frameworks for consumer protection, cyber resilience, and financial inclusion.
Arrears in local government sector reach alarming levels
58% of South Africa’s municipalities – 149 out of 257 – are behind on their retirement fund contributions, highlighting a growing issue in local government finances.
Unpaid contributions: FSCA prepares to hold non-compliant employers accountable
With over R5.2 billion in unpaid retirement fund contributions and municipalities among the worst offenders, the FSCA is poised to gain expanded powers under the COFI Bill.
Fraudsters impersonate FSCA commissioner in latest scam
The FSCA also reiterates its warning against Donafin, which continues to charge fees for unauthorised financial services.
FSCA and National Treasury urge financial sector to unite on financial education charter
CEOs and other decision-makers have just under three months to provide input on the Draft South African Financial Education Commitment Charter.
Experts warn of financial literacy crisis, call for co-ordinated action
At the FSCA Financial Education Summit, industry leaders outlined the shortcomings of current financial education efforts and the need for a strategic overhaul.
FSCA Commissioner highlights balance between innovation and regulation
FSCA Commissioner Unathi Kamlana underscores the importance of balancing the costs and benefits of regulation to foster innovation and protect consumers.
Kamlana urges banks to be fair and transparent when closing customers’ accounts
‘Banks should not simply cite reputational risk; reasons must be concrete and consistently applied to prevent what might appear as arbitrary account closures.’
FSCA launches advisory panel to represent retail consumers
The aim of the newly established panel to ensure that the perspectives and concerns of retail financial customers are effectively considered in the Authority’s activities.
Financial services entities recognised for exceptional HR practices
They are among the 138 South African employers to earn the accreditation of ‘top employer’.
