New regulatory risk log published by Compli-Serve SA

Compli-Serve SA has published its latest monthly regulatory risk log for January/February 2020.

Please find changes to the following sections:

Retail distribution Review (RDR)

• RDR Discussion Document on Adviser Categorisation and Related Matters and Annexure A - Retail Distribution Review Advisor Categorisation Discussion Document December 2019 - Feedback due 31 March 2020
• RDR Second Discussion Document on Investment Related Matters and Annexure A - Retail Distribution Review Second Investment Related Matters Discussion Document - Feedback due 31 March 2020 (First Discussion document - June 2018)
• RDR Discussion Document on a Remuneration Dispensation for Savings and Investment Products for the Low-income Market (Proposal TT) - Retail Distribution Review: Status Update on Proposal TT - Special Remuneration Dispensation for the Low-Income Market - December 2018 - Feedback due 28 February 2020
• RDR Position Paper on Equivalence of Reward (Proposal RR) - not for comment
• RDR Paper on Intermediary Activity Segmentation and Related Matters - not for comment
• General RDR Status Update - not for comment

Insurance-premium collection

• Latest exemptions and extensions of existing exemptions
• The commencement of Chapter 14 of the 2017 Financial Sector Regulation Act (ombuds) and the repeal of the 2004 Financial Services Ombud Schemes Act have been postponed once again – to 1 April 2020 and 1 October 2020 respectively.
• POPIA - Information Regulator (IR) - Update February 2020
• PAIA and PAJA rules - Procedure for Application to Court
• Policyholder Protection Rules will commence on 1 January 2020:
  • Rule 13 (Data Management under 'Project Performance and Acceptable Service' section) and 
  • Rule 20 (Termination of Policies under 'No Unreasonable Post-Sale Barriers')
• Cell Captive Proposed Conduct Standards – December 2019