Low income insurance, investment product remuneration policy consultations begin; comments by 15 February 2019
The Financial Services Conduct Authority (FSCA) has released a paper aimed at eliciting stakeholder input on outstanding issues requiring attention in developing a policy position on ‘a specific remuneration dispensation’ for the suppliers of life insurance and investment products to low income consumers. Once finalised, the policy is expected to ...
FSCA releases PFA guidance note on how to apply default regulations by retirement funds
The Minister of Finance issued the Default Regulations with effect from 1 September 2017. They prescribe conditions for default investment portfolios, default preservation and portability, and annuity strategies for funds. All new default arrangements that came into operation on or after 1 September 2017 must comply with the requirements set out in the Default ...
Update on future of premium collection regulatory framework under the Short- and Long-term Insurance Acts
The Financial Sector Conduct Authority (FSCA) released an update on its technical work aimed at further refining the premium collection regulatory framework for short- and long-term insurers in December 2018.
On 28 September 2018, National Treasury published amendments to the Regulations under the Short-term Insurance Act 53 of 1998, and ...