The FSCA Bulletin released for Quarter 2 2018/19 focuses on various regulatory topics, warnings, events, and consumer education within the financial industry. Some of these include a focus on FinTech (Financial Technology). The South African Reserve Bank (SARB) recently decided to establish a broader Fintech program aimed at reviewing the emergence of FinTech and assessing the related user cases. The Bulletin also discusses the concept of financial inclusion and contains the FSCA Report on current investigations in cases of market abuse, as well as a regulatory update on Directive 8 which was published in March 2018 in terms of the Pension Funds Act and deals with the Prohibition on the Acceptance of Gratification. Directive 8 aims to prescribe conditions to combat and prevent potential corrupt activities. The regulatory update speaks of trustees now being able to understand what is required of them.
To read the FSCA Bulletin, click here.