News Updates:

Regulatory News


Regulatory News / 23-02-24 / Duty Editor

FSCA warns public against a fraudulent Telegram channel impersonating Old Mutual Limited

"OML has confirmed to the FSCA that it is in no way associated with the private Telegram channel that is offering these investment opportunities to the South African public using its name, and has published similar cautionary messages on its…

Regulatory News / 20-10-23 / Tau kaVodloza

IAIS announces new Executive Committee Chair

“Vicky will be greatly missed as Chair by both members and the Secretariat, having brought deep technical knowledge and impressive consensus-building skills to the role. She leaves behind a record of having finalised significant reform projects…

Regulatory News / 08-09-23 / Sisanda Ndlovu

Public warned against impersonating the FSCA, CySEC, PA, SARS & Ms Emily Lakovidou

The FSCA said that clients were charged various fees to have the reimbursements processed. The impersonator/s used the email address nr-complaints@cysec.gov.cy, and the details of Lakovidou, to convince members of the public that they were employed…

Regulatory News / 01-09-23 / Duty Editor

New Acting Director at Financial Intelligence Centre (FIC)

The Minister of Finance, Enoch Godongwana, MP, has announced the appointment of Pieter Smit as an interim Director at the Financial Intelligence Centre (FIC), who will take up the position from 1 September 2023.

Regulatory News / 01-09-23 / Duty Editor

Financial Ombud Offices collaborate to empower consumers during Money Smart Week SA 2023

In an effort aimed at promoting consumer empowerment and financial literacy, some of the financial ombud schemes in South Africa, namely the Ombudsman for Banking Services (OBS), the Credit Ombud (CO), the Financial Advisory and Intermediary…

Regulatory News / 17-07-23 / Gabi Richards-Smith,Lerato Lamola-Oguntoye,Analisa Ndebele

FSCA publishes draft position paper on open finance

"Some of the risks include privacy and data breaches, misconduct and fraud arising from data exposure, as well as operational and cybersecurity concerns. The purpose of the Draft Position Paper is therefore to set out how the FSCA proposes to…

Regulatory News / 07-07-23 / Sisanda Ndlovu

The FSCA publishes its three-year regulatory plan to 2026

"The FSCA’s rolling 3-year Regulation Plans will be reviewed and revised on an annual basis and used as a strategic tool to assist the FSCA in developing the regulatory framework falling within its purview, in a strategic and focused manner,"…

Regulatory News / 26-06-23 / Chris Smit

IAIS launches final consultation in preparation for adoption of the ICS in 2024

"After ten years of development, three consultations, six field-testing exercises and three years of confidential reporting, I am pleased that the Executive Committee of the IAIS has agreed on the candidate ICS as a prescribed capital requirement…

Regulatory News / 09-06-23 / Sisanda Ndlovu

FSCA warns about people impersonating FSCA Commissioner

"The FSCA and the Commissioner hereby confirm that they do not conduct any business on the WhatsApp messaging platform. The FSCA has formal processes to deal with any matters under investigation by the institution, and at no stage will such…

Regulatory News / 11-05-23 / Sisanda Ndlovu

FSCA fines JP Markets SA (Pty) Ltd R100 000 for contravening financial sector laws

The Financial Sector Conduct Authority (the FSCA) has imposed an administrative penalty of R100 000 on JP Markets SA (Pty) Ltd (JP Markets) for contravening section 2 of the Over-the-Counter Derivative Provider (ODP) Regulations.

Regulatory News / 19-04-23 / Duty Editor

FSCA provisionally withdraws Salt Asset Management (Pty) Ltd's license

"The provisional withdrawal of SAM’s FSP license means that SAM may not render any financial services to clients, and on behalf of any financial product provider, as contemplated in section 3 of Financial Sector Regulation Act, No. 9 of 2017…

Regulatory News / 31-03-23 / Tau kaVodloza

The FSCA publishes Final Strategy for Promoting Financial Sector Transformation

"The FSCA remains committed to playing its part in promoting financial sector transformation. We are grateful to all those who provided inputs into our draft strategy, which were considered and taken into account in revising the document.,"…

Regulatory News / 29-03-23 / Duty Editor

The FSCA publishes report on deregistration of inactive retirement funds

"The project was triggered by the realisation in 2007 that an estimated 13 000 funds were registered but just over half of them managed to submit their annual financial statements and some with discrepancies," says the Financial Sector Conduct…

Regulatory News / 28-03-23 / Duty Editor

FSCA warns public against individuals impersonating International Capital Markets Pty Ltd

"IC Markets confirmed they are not associated with the impersonators and that these scammers are using their brand name, logos and trademark without permission to offer investment opportunities and dupe the public," says the FSCA.