A lot has happened this month. Happy reading! THE FINANCIAL SECTOR CONDUCT AUTHORITY (THE FSCA) FSCA Regulation Plan The FSCA issued its three-year Regulation Plan on 1 July. Its stated regulatory framework focus areas are: conduct, integrity and efficiency of financial markets, and the cross-cutting sector developments. These plans rely on the release of the Conduct…
June 2022 Legislative Update “There’s gold in them thar hills!” is not a South African phrase. It’s not even what Mark Twain actually wrote, but Yosemite Sam says it a lot! It’s one we should be cognisant of when considering our business options. In an economy still heavily reliant on the production and export of…
May 2022 Legislative Update It has been a slow month in terms of legislative changes. We’ll keep you informed on anything new, but it seems a good time get into those projects you’ve been planning since January. THE FINANCIAL SECTOR CONDUCT AUTHORITY (THE FSCA) Warnings on crypto traders The FSCA released two warnings regarding entities…
April 2022 Legislative Update There’s a lot coming out from the Financial Intelligence Centre (FIC) at the moment. It has even roped in the Prudential Authority (PA) and the Financial Sector Conduct Authority (the FSCA) to resolve issues in that poor report from the Financial Action Task Force (FATF). Let’s hope it’s effective. The delay…
March 2022 Legislative Update There’s a lot of compliance planning and preparation underway for the financial services industry at the moment. We’ve summarised this months’ most important issues. South African regulation of crypto assets As long ago as January 2019, the South African financial services regulators (i.e. the Financial Sector Conduct Authority, South Africa Revenue Services…
February 2022 Legislative Update As we marvelled at the date pattern on 22 02 2022 (better at 20:22 that evening) some of those more community minded were contemplating the life and message of the late Archbishop Emeritus Desmond Tutu. Let’s hope peaceful and reasonable voices like his will be heard in the unfolding Russia-Ukraine conflict.…