B2B Central

FSCA

08 Apr 2020

Covid-19: Impact on banks, non-insurance financial institutions & expectations on regulated entities

By Janice Roberts

In response to the Covid-19 emergency, the South African Reserve Bank (Reserve Bank) and the South African financial sector regulators, the Prudential Authority and the Financial Sector Conduct Authority (FSCA), have implemented several mitigation measures to support the economy and companies.
07 Apr 2020

Innovation Hub to promote responsible innovation in the SA financial sector

By Janice Roberts

South Africa’s financial regulators have launched the Intergovernmental Fintech Working Group (IFWG) Innovation Hub to respond to changes in the financial sector driven by financial technology (fintech) and to promote responsible innovation in the sector.

02 Apr 2020

COVID-19: Premium collection in respect of business assistance policies

By Janice Roberts

The Financial Sector Conduct Authority (the Authority) has issued several communications to regulated entities and customers subsequent to the lockdown as a result of the COVID19 crisis.

30 Mar 2020

How the COVID-19 lockdown impacts on buying life cover

By Janice Roberts

The long-term insurance members of the Association for Savings and Investment South Africa (ASISA) support a statement issued earlier today by the Financial Sector Conduct Authority (FSCA) that the collection of blood samples and medical examinations as part of underwriting for new business does not qualify as an essential service and must be avoided.
30 Mar 2020

FSCA comments on insurers performing medical underwriting during lockdown period

By Janice Roberts

It has come to the attention of the Financial Sector Conduct Authority (FSCA) that some insurers may have declared travelling nurses as essential services in the lockdown period, to collect blood samples for new business underwriting purposes.
28 Mar 2020

FSCA fines Connie van Nieuwkerk two administrative penalties

By Janice Roberts

The Financial Sector Conduct Authority (FSCA) has ordered administrative penalties against Ms Connie van Nieuwkerek for breaches of Section 76 of the Securities Services Act (SSA) during her time as director and Chief Financial Officer of both African Dawn Limited (African Dawn) and Alliance Mining Corporation Limited (Alliance Mining).

27 Mar 2020

COVID-19 - FSCA gives financially distressed employers breathing space

By Janice Roberts

Employers in financial distress as a result of the COVID-19 pandemic and unable to pay their full contributions to employee retirement funds have been given a temporary reprieve.

27 Mar 2020

Securities regulators coordinate responses to COVID-19 through IOSCO

By Janice Roberts

Members of the International Organization of Securities Commissions, who regulate over 95% of the world’s capital markets, are cooperating closely on their responses to the disruption in capital markets resulting from the macroeconomic impact of COVID-19 on the global economy.

20 Mar 2020

FSCA: Update on cancellation of selected policies by Constantia Insurance Company Ltd

By Janice Roberts

The Financial Sector Conduct Authority (FSCA) today issued a statement in which it says that it has engaged with Constantia Insurance Company Ltd (Constantia) regarding the policy cancellations of the Prime Living Covergrow (Covergrow) and Living Legacy (Legacy) product offerings.

17 Mar 2020

Money Smart Week South Africa postponed

By Janice Roberts

Given the accelerated spread of COVID-19 in South Africa, and in support of government’s decision to stop any public gathering of more than 100 people; the organizing committee for Money Smart Week South Africa 2020 (MSWSA 2020) has, after much consideration taken the decision to postpone this event until later this year.
03 Mar 2020

Financial Markets Review released

By Janice Roberts

National Treasury (NT), the South African Reserve Bank (SARB) and the Financial Sector Conduct Authority (FSCA) have released the Financial Markets Review (final report), which provides recommendations for conduct practices in domestic over-the-counter fixed income, currency, commodities and derivatives financial markets.
25 Feb 2020

CPD and why it's vital to your career as an FSP

By Janice Roberts

Continuous Professional Development is not a tick-box exercise to be taken lightly, rather, it's a regulatory exercise in the upkeep of professionalism and best practices for the greater industry and financial services providers. The Graduate Institute of Financial Sciences (GIFS) explains.