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Financial Services Intelligence Watch
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10 April 2021 Financial Service Intelligence Watch

Note to Subscribers



Presents a virtual webinar on

Oh sh*t, POPIA really is coming! Now what?


Compli-Serve, in conjunction with Novation Consulting and UCT [email protected] presents…

 Time: 11 May 2021 from 10.00-12.30 (SA time)


Protection of Personal Information Act (PoPIA) with speaker Elizabeth de Stadler

A couple ...

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Legislative Changes and Developments

Central counterparty licensing standard issued

The Financial Sector Conduct and Prudential Authorities have issued a joint standard on central counterparty licensing requirements. CompliNEWS contributor Pam Saxby reports that, among other things, it prescribes the administrative and other information to accompany each licence application (including a copy of the relevant founding documents); and matters to be ...

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New public finance accounting regulations mooted

National Treasury has called for comments by 1 May 2021 on its intention make regulations of certain International Accounting Standards Board generally recognised practices in the context of public finance management, CompliNEWS contributor Pam Saxby reports. To that end, the Government Notice announcing this comprises Generally Recognised Accounting Practice (GRAP ...

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Data and cloud services policy out for comment

draft national policy national policy on data and cloud services has been gazetted for comment by 1 May, reports CompliNEWS contributor Pam Saxby. Underpinned by government’s commitment to ‘open’ data systems and ‘source frameworks’ (as opposed to those that are ‘closed and exclusive’), it seeks to encourage increased investment ...

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Commentary on Legislative Changes and Development

News from the Regulators

The FSCA warns the public against Just Bridge (Pty) Ltd

The Financial Sector Conduct Authority (FSCA) would like to warn the public to act with caution when dealing with Just Bridge (Pty) Ltd. Just Bridge (Pty) Ltd is not authorised in terms of the Financial Advisory and Intermediary Services Act 37 of 2002 (FAIS Act), to render any financial advice and ...

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Enforcement News

Relevant Rulings

Local News

TransUnion’s Industry Insights Report

TransUnion released the findings of its fourth-quarter 2020 South Africa Industry Insights Report that looks at the unemployment period as a result of the Covid-19 pandemic, as well as at what the consumer credit market looks like right now.

TransUnion reports that enquiries, a measure of consumer demand, and originations ...

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VBS depositors have three months to collect R100 000

Legalbrief Today Issue 5143

VBS Mutual Bank has completed the transfer of guaranteed retail deposits to Nedbank, giving depositors little more than three months to collect money guaranteed to them based on an agreement between relevant authorities, says a BusinessLIVE report. The liquidator of VBS, Anoosh Rooplal, has advised qualifying ...

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International News

The importance of purposeful anti-money laundering controls

Speaker: Mark Steward, Executive Director of Enforcement and Market Oversight, Financial Conduct Authority (FCA)
Event: AML & ABC Forum 2021
Delivered: 24 March 2021
Note: This is the speech as drafted and may differ from the delivered version


  • Two of our biggest sanctions in the last 12 months ...
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Australia's ASIC bans the sale of binary options to retail clients

The Australian Securities and Investments Commission (ASIC) in Australia has made a product intervention order banning the issue and distribution of binary options to retail clients.

The ban will take effect from Monday 3 May 2021 after ASIC found that binary options have resulted in and are likely to result ...

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The rise and fall of Wirecard, a German tech champion

Payments firm Wirecard collapsed last year in Germany’s biggest post-war fraud scandal. A parliamentary inquiry is in progress, with German Chancellor Angela Merkel and Finance Minister Olaf Scholz due to testify in April 2021.

The German government examined the possibility of bailing out Wirecard just three days before it collapsed ...

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Working Smart

Thinking strategically about a remote work policy

By Lee Rossini

In a recent PwC survey, nearly a third of the executives interviewed described their approach to post-pandemic work as 'going with the flow'. The authors of an article, 'What Is Your Organisation’s Long-Term Remote Work Strategy?', recently published in the Harvard Business Review, urge business owners to ...

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Data Protection

POPIA – Provisions in force from 1 July 2021

In terms of sections 57 and 58 of the 2013 Protection of Personal Information Act, responsible parties will soon be required to notify the Information Regulator if processing is subject to prior authorisation. CompliNEWS contributor Pam Saxby reports that they will also be obliged to desist from proceeding with processing ...

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Namfisa neutral in Hollard, Gondwana case

THE Namibia Financial Institutions Supervisory Authority (Namfisa) appears to be undecided over Gondwana Collection Namibia's multimillion-dollar insurance claim against Hollard Insurance Namibia.

The two companies are at each other's throats over a business-interruption insurance claim to the tune of N$638 million.

A business-interruption insurance seeks to protect ...

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Private Equity

The best ways to invest in private equity

Private equity is now firmly part of the investment mainstream, thanks to a record of strong returns. According to a report by MoneyWeek, over the last ten years, European buyout funds have achieved an annual return (as measured by internal rate of return, or IRR) of 15%, according to the ...

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Why private equity is into logistics, and here to stay

Private equity firms have made a series of notable investments to boost their exposure to the global logistics sector over the past year.

Loadstar notes that this has entailed deploying capital not only into physical real estate – such as Blackstone’s acquisition of a £473m portfolio of UK warehouses in October ...

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How to partner with a private equity firm

The business world doesn’t seem so simple and easy to run. Buying a business is considered a rough process. An owner or investor takes into account every detail: from a brand identifying through a growth concept to business expansion. New ideas and innovative approaches are demanded to advance a new ...

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Working Smart

By Lee Rossini

In a recent PwC survey, nearly a third of the executives interviewed described their approach to post-pandemic work as 'going with the flow'. The authors of an article, 'What Is Your Organisation’s Long-Term Remote Work Strategy?', recently published in the Harvard Business Review, urge business owners to be more conscious about the decisions made regarding remote work and to use their recent experiences of employees working remotely to their advantage. This requires intentionally planning for a blended business model which includes both remote and office-based work. The authors suggest that to do so, two areas need attention: company policies and management practices.


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