09 April 2020 Archives

FSCA outlines Licensing and Business Centre operations during 21-day national lockdown

Posted on 9 Apr 2020

The FSCA has announced that it will be working on limited capacity during the lockdown, therefore certain services may not be available. As correspondence and client enquiries will be made via email there may be delays in dealing with and responding to these. The services of the FSCA’s Licensing and Business Centre will continue to … Continued

The impact of COVID-19 lockdown on medical underwriting

Posted on 9 Apr 2020

The Financial Sector Conduct Authority (FSCA) recently issued a statement that the collection of blood samples as part of underwriting for new business does not qualify as an essential service and must be avoided during the national lockdown. The statement was supported by the long-term insurance members of the Association for Savings and Investment South … Continued

Protect your business and clients against data breaches and cybercrime

Posted on 9 Apr 2020

The Information Regulator of South Africa recently issued a press release about the importance of the right of access to information and the right to privacy in the management and containment of the spread of the COVID-19 virus. The Regulator commends government for the measures taken thus far to deal with the virus and calls … Continued

Impact of COVID-19: FSCA’s Expectations on Insurers and FSPs regarding premium collection in respect of assistance business policies (funeral policies)

Posted on 9 Apr 2020

On 3 April 2020, the Financial Sector Conduct Authority (FSCA) published FSCA Communication 14 of 2020 (INS) which outlines the expectations of the FSCA regarding the culture and responsibilities of insurers and financial services providers (FSPs) in respect of premium collection of funeral policies during the COVID-19 crisis. The FSCA advises insurers to ensure that all … Continued

FSCA’s Expectations on Regulated Entities amidst COVID-19

Posted on 9 Apr 2020

On 31 March 2020, the Financial Sector Conduct Authority (FSCA) published FSCA Communication 12 of 2020 which outlines the expectations of the FSCA regarding the culture and main responsibilities of financial institutions during the COVID-19 crisis. The Communication warns that entities must ensure that all customers are treated fairly during the entire product cycle and that … Continued

Do your homework before advising a client to replace

Posted on 9 Apr 2020

The COVID-19 crisis will affect all business sectors – but it especially puts a spotlight on insurers who are likely to be inundated with enquiries and claims across different products, for example health, life or non-life insurance cover. Life insurers will be considering their risks and may look to trim their policy offerings in the … Continued

Exemption from and extension of period to comply with Fit and Proper requirements

Posted on 9 Apr 2020

The Financial Sector Conduct Authority (FSCA) has recently published FSCA FAIS Notice 17 of 2020 on the exemption from and the extension of period to comply with the Fit and Proper Requirements. This Notice comes after the FSCA published FSCA Communication 9 of 2020 which dealt with various extensions to regulatory requirements in light of the … Continued

Extension to comply with requirements related to submission of statutory returns

Posted on 9 Apr 2020

The FSCA recently published FSCA General Notice 1 of 2020 on the extension of period for compliance with various requirements relating to the submission of statutory returns. Submission of Annual Financial Statements in respect of the FAIS Act As communicated in FSCA Communication 9 of 2020, FSPs are reminded that the period for submission of certain … Continued

FSCA issues guidance note to retirement funds industry to respond to COVID-19 risk

Posted on 9 Apr 2020

The Financial Sector Conduct Authority (FSCA) recently issued two publications, regarding the payment of retirement fund contributions aimed at distressed employers and employees in light of the COVID-19 pandemic. The two communications published on the 26th and 27th of March 2020 were FSCA Communication 11 of 2020 (RF) and FSCA Press Release: FSCA issues guidance … Continued

MASTHEAD IS

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.

Mastering Compliance Newsletters

09 April 2020

FSCA outlines Licensing and Business Centre operations during 21-day national lockdown

The impact of COVID-19 lockdown on medical underwriting

Protect your business and clients against data breaches and cybercrime

Impact of COVID-19: FSCA’s Expectations on Insurers and FSPs regarding premium collection in respect of assistance business policies (funeral policies)

FSCA’s Expectations on Regulated Entities amidst COVID-19

Do your homework before advising a client to replace

Exemption from and extension of period to comply with Fit and Proper requirements

Extension to comply with requirements related to submission of statutory returns

FSCA issues guidance note to retirement funds industry to respond to COVID-19 risk

EARN CPD HOURS

Mastering Compliance Newsletters

09 April 2020

FSCA outlines Licensing and Business Centre operations during 21-day national lockdown

The impact of COVID-19 lockdown on medical underwriting

Protect your business and clients against data breaches and cybercrime

Impact of COVID-19: FSCA’s Expectations on Insurers and FSPs regarding premium collection in respect of assistance business policies (funeral policies)

FSCA’s Expectations on Regulated Entities amidst COVID-19

Do your homework before advising a client to replace

Exemption from and extension of period to comply with Fit and Proper requirements

Extension to comply with requirements related to submission of statutory returns

FSCA issues guidance note to retirement funds industry to respond to COVID-19 risk

EARN CPD HOURS

MASTHEAD IS

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+27 21 686 3588

info@masthead.co.za

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