By Compli-Serve
The Financial Intelligence Centre (FIC) has issued Draft Directive 11 of 2026 for public consultation, proposing the introduction of Risk and Compliance Returns (RCRs) for certain accountable institutions under the Financial Intelligence Centre Act, 2001 (FIC Act).
The draft directive, issued in terms of section 43A(3) of ...
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The South African Reserve Bank has issued a proposed directive updating the audit reporting requirements applicable to banks under the Banks Act.
The directive clarifies which BA regulatory returns must be audited, reviewed or subject to limited assurance engagements by external auditors in terms of Regulation 46 of the Regulations ...
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The South African Reserve Bank Prudential Authority has issued a proposed directive setting out detailed requirements for banks’ Internal Liquidity Adequacy Assessment Process (ILAAP) under the Banks Act.
The framework requires banks to conduct comprehensive liquidity risk assessments covering governance, stress testing, funding strategies and contingency planning. Banks will also ...
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By Lee Rossini
Changing client expectations in financial services have undergone a transformation over the past decade, driven by advances in technology, increased access to information, and evolving client behaviour. Clients are therefore more informed, more demanding, and less tolerant of inefficiencies. Financial institutions that don’t recognise and adapt to these shifting expectations risk losing clients to more agile and client-centric competitors.
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