FSCA warns public against impostors misusing the MitonOptimal (Pty) Ltd name
The Financial Sector Conduct Authority (FSCA) is issuing a caution to the public about engaging in any financial services activities with a group of individuals who are falsely representing themselves as part of the MitonOptimal (Pty) Ltd brand. These impostors are actively defrauding unsuspecting individuals on the social media platform ...
Regulator hands over medical schemes report
The medical schemes regulator says it has submitted its long-awaited report on cheap, pared-down medical scheme options to Health Minister Joe Phaahla, notes Business Day. The Council for Medical Schemes (CMS) has since 2015 overseen the development of a low-cost benefit option (LCBO) framework that will allow schemes to offer ...
Important notice – Compliance requirements and sanctions for accountable institutions under Directive 7; submission deadline 1 December 2023
The Financial Intelligence Centre (FIC) has issued a critical reminder to certain accountable institutions regarding compliance with Directive 7, under the Financial Intelligence Centre Act 38 of 2001 ('FiC Act'). This directive, released on 31 March 2023, mandates specific institutions listed in Schedule 1 of the FIC Act – including ...
National Treasury flags financial misconduct concerns relating to the trading of the Rands/US Dollars currency pair by Standard Chartered Bank
National Treasury unveils 'An Inclusive Financial Sector for All' policy framework, endorsed by Cabinet