The Financial Sector Conduct Authority (FSCA) has imposed an administrative penalty of R700 000 on African Bank Limited for misleading advertising, breaching Conduct Standard 3 of 2020 (Banks), which governs the fair treatment of customers in financial product marketing.
The penalty stems from African Bank’s #KeFestive campaign aired on social ...
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The Prudential Authority (PA) has imposed administrative sanctions on Absa Bank Limited after identifying serious compliance failures with provisions of the Financial Intelligence Centre Act 38 of 2001 (FIC Act).
Following a 2022 inspection conducted under section 45B of the FIC Act, the PA found that Absa had failed to ...
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The Financial Sector Conduct Authority (FSCA) has taken enforcement action against Petrus Erasmus, barring him from operating in the financial services sector for five years and imposing a financial penalty of R1.18 million. This sanction includes the cost of the regulatory investigation.
According to the FSCA, Erasmus unlawfully acted ...
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By Lee Rossini
When managing a business, clarity and consistency are vital when drafting policies, procedures and processes. While these terms are often used interchangeably, they are distinct elements of business structure and governance. Properly drafting each one effectively can empower a business to operate efficiently, reduce risk, and foster a productive work environment.
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