"As at 30 June 2024, the FSCA has said it had approved a further 63 licence applications, bringing the number of licensed CASPs in South Africa to 138. The total number of applications received to date is 383, of which five have been declined,"…
"While aggregate systemic risk scores increased slightly at year-end 2023, the interim GME analysis found stable solvency, liquidity and profitability positions in 2023, reflecting the overall financial stability of the insurance sector," says…
“Comments received in response to the 2023 public consultation helped enhance the ICS design, which is now almost ready for adoption. This has enabled us to increase our focus on supporting the comprehensive and consistent implementation of…
"Authorised financial services providers must display the fact that they are authorised on their documentation. If this is absent, the public should avoid paying any funds to such a person without investigating it further," advises the Financial…
"The Joint Standard strengthens the financial sector's cyber defences. Financial institutions have one year to comply, requiring proactive measures for a smooth transition and a more secure future," explain Gabi Richards-Smith, Partner, Mateen…
"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…
“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…
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…
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.
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…
"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…
"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,"…
"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…
"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…
Insurance Biz is a New Africa Busines News Services (NABNS) publication launched in 2013 to focus on the insurance industry, investments, financial planning, employee benefits etc. It remains a great resource of news for industry professionals, and for those who seek to learn about the financial sector developments.
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