Posted on 22 Mar 2022
The financial year ended on 28 February for many financial service providers (FSPs), and the countdown has started for the submission of annual financial statements. In terms of Section 19 of the Financial Advisory and Intermediary Services Act (FAIS), FSPs must meet the FSCA’s accounting and auditing requirements. Section 19(1)(a) states that full and proper … Continued
Posted on 22 Mar 2022
The FSCA recently published two notices namely the FSCA INS Notice 3 of 2022 (short-term insurance) and FSCA INS Notice 4 of 2022 (long-term insurance), which extends the exemption applicable to independent intermediaries insofar as it relates to receiving, holding, or in any other manner dealing with premiums payable to a short-term insurer or long-term … Continued
Posted on 22 Mar 2022
The Information Regulator has published an infographic as a reminder regarding the registration of Information Officers in terms of section 55(2) of POPIA. View the infographic here An accounting officer of a public body and a head of a private body by virtue of their positions are by default the Information Officer. If your Information … Continued
Posted on 22 Mar 2022
Agility can be defined as the “ability to move quickly and easily”. In a business sense, this is a fantastic attribute. One can only move quickly and easily if there is nothing disrupting the motion. A small stone inside a shoe can interrupt a person’s mobility. Similarly, an unknown threat such as an uneven surface … Continued
Posted on 22 Mar 2022
Exemptions regarding credit life and funeral products The Financial Sector Conduct Authority (FSCA) recently published exemptions applicable to FSPs, Key Individuals and Representatives that render financial services in respect of credit life products and funeral products. New classes and sub-classes of insurance business were introduced through the Insurance Act in 2017. Subsequently, in 2020, the … Continued
Posted on 22 Mar 2022
Draft FSCA Strategy For Promoting Financial Sector Transformation The Financial Sector Conduct Authority (FSCA) recently published its draft strategy for promoting transformation of the financial sector in South Africa for public comment and engagement. A strategic objective of the FSCA is to promote the development of an innovative, inclusive, and sustainable financial system – … Continued
Posted on 22 Mar 2022
Representative Register A reminder that the method of submitting Rep Register updates to the FSCA using a text-based document or Microsoft Excel spreadsheet will no longer be permitted after 31 March 2022. For more information on how to submit Rep Register updates to the FSCA, click here. CPD Progress FSPs, KIs and Reps are reminded … Continued
A national supplier of risk management services to independent financial advisors and other licensed financial service providers (FSPs). Established in 2004, we help our clients overcome their risk management challenges so they can grow and thrive in an increasingly regulated industry. Providing professional guidance and practical support, our team of specialists is passionately committed to delivering tangible solutions.
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