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21 September 2021 Financial Service Intelligence Watch

Standard proposed for insurance function outsourcing

Comment is sought by 26 October on a draft standard proposing the minimum requirements to be met by an insurer when outsourcing material business functions or activities to third-party service providers. Prepared by the Financial Sector Conduct and Prudential Authorities, its purpose is to ensure that outsourcing ‘does not impair ...

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Employment Equity Bill process stalls

The Employment Equity Amendment Bill’s ‘B’ version was expected to be passed last week by the National Assembly – but, in the absence of quorum, no decision could be reached, CompliNEWS contributor Pam Saxby notes. According to the minutes of Thursday’s sitting, after the Bill had been read a second ...

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Input sought on AMA operational risk guidelines

The Prudential Authority has called for comment by 30 September 2021 on draft supervisory guidelines on the ‘advanced measurement approach’ to operational risk, CompliNEWS contributor Pam Saxby reports. Their purpose is ‘to bring to the attention of banks specific international best practices related to operational risk and to clarify certain ...

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Working Smart

By Lee Rossini

Working from home is currently the norm, especially in the knowledge sectors such as financial planning. As the pandemic forced companies to adopt this practice, many of them welcomed the cost saving and short-term boosts in productivity that came with it. Despite these benefits, the long-term effects of employees working remotely are still largely unknown, and some believe that it could negatively impact business performance.


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