This serves as a reminder that policyholder protection rule 17 (claims management) and rule 18 (complaints management), in so far as it relates to group schemes, will commence on 1 July 2019.

Compli-Serve notes that the notice for the new long-term and short-term policyholder protection rules (PPRs) was already published ...

A draft preliminary Taxation Laws Amendment Bill and explanatory memorandum released this week for comment by 25 June focus on two ‘more urgent’ proposals requiring additional consultation. Once refined to reflect stakeholder input, they will be incorporated in the full text of a draft amendment Bill to be released in ...

The South African Reserve Bank’s (SARB’s) methodology for determining ‘which banks are systemically important within the South African context’ was published this week, notes CompliNEWS contributor Pam Saxby. While no accompanying media statement was issued, the methodology’s development was probably informed by stakeholder input on a discussion document released ...

The Financial Sector Conduct Authority (FSCA) on Friday filed papers in the North Gauteng High Court requesting the court to review and set aside the report by the Public Protector (PP), in which she made findings of impropriety and maladministration against the Financial Services Board (now FSCA) and its Executive ...

The Guidance Notice provides some general guidance in respect of the application of s 14 of the Financial Advisory and Intermediary Services Act 37 of 2002 (FAIS Act). It also highlights the salient factors that require consideration when FSPs effect debarments and clarify the function of the Authority upon receipt ...

By Shamaa Sheik The following matter was heard in the Office of the Ombud for Financial Services Providers on 26 March 2019:

• Tasha Christelle de Beer (Complainant) and Sophia Elizabeth Coetzer t/a Downstream Trading (Respondent) – case number: FAIS 05821/13-14/GP 1

Fast facts Advice – duty of ...

Legalbrief Today

The Council on Medical Schemes (CMS) has announced that Advocate Tembeka Ngcukaitobi will head an investigation into alleged discrimination against black and Indian medical professionals in the private health sector. A Polity report says the investigation was launched following allegations by members of the National Health Care Professionals ...

The financial services industry in South Africa is under attack by cyber criminals because it has information that is of great use to hackers. So notes a Fin 24 report published on Tuesday.

Speaking at the Sanlam Benchmark 2019 event hosted on the Spier Estate near Stellenbosch on Monday,Tebogo Legodi, digital ...

Legalbrief Forensic

The Competition Tribunal has ordered anti-trust investigators to rewrite charges of currency manipulation against banks, drawing out a legal battle four years in the making, says a Business Day report. While rejecting bids from lenders to have the case dismissed, the tribunal found deficiencies in referrals prepared by ...

The UK's Financial Conduct Authority (FCA) on Wednesday confirmed it will introduce new rules in the buy-now-pay-later (BNPL) market, saving consumers around £40-60 million a year. The changes, which include banning firms from charging backdated interest on money that has been repaid by the consumer during the BNPL offer period ...

The Australian Securities & Investment Commission (ASIC) has commenced civil penalty proceedings in the Federal Court against R M Capital Pty Ltd (RM Capital) and its authorised representative, The SMSF Club Pty Ltd (SMSF Club), in relation to accepting conflicted remuneration.

ASIC alleges that SMSF Club advised its clients to ...

Autorité des Marchés Financiers (France)

Between 1 January 2016 and 15 March 2017, Hedios Patrimoine marketed Euro Medium Term Notes, as well as several collective investment undertakings, via internet.

In response to a plea of lack of jurisdiction raised by Hedios Patrimoine, which argued that it was not operating as ...

In response to requirements set by the FIC Amendment Act, whereby anti-money laundering (AML) and verifying the source of funds are non-negotiable, Compli-Serve SA has teamed up with a technology specialist Altron BSI to ease compliance risks for its clients.

FIC-fit first
Now in effect, the Act requires all accountable ...

By Lee Rossini

Most candidates arrive at an interview aiming to dazzle and leave a lasting impression. However, interviewing candidates for a position can be a mentally tiring process for the interviewer. More importantly, how do you make the right decision based on an hour interaction with a person who ...