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Financial Sector News

INSURANCE INDUSTRY: LIQUIDITY RISK MANAG...

In anticipation of replacing the existing standard on liquidity risk management in the insurance ind...


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FINANCIAL SECTOR REGULATION: DISCUSSION...

Input is sought on proposals for revising the 2020 joint standard on margin requirements for non-cen...


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NATIONAL PAYMENT SYSTEM: SARB ISSUES CYB...

The SARB has issued a directive on national payment system cybersecurity. In force from mid-August 2...


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PENSION FUNDS ACT: FSCA CALLS FOR INPUT...

Input is sought on draft amendments seeking to align the 2019 conduct standard on conditions for ama...


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CRYPTO ASSETS: DRAFT DIRECTIVE OUT FOR C...

Input is sought on a draft directive imposing a ‘travel rule’ on accountable institutions engaging i...


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MUTUAL BANKS: CORPORATION FOR DEPOSIT IN...

Input is sought on a draft directive prescribing the fund liquidity contribution of a mutual bank to...


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FINANCIAL MARKETS: REVISED DRAFT CONDUCT...

Input is sought on a revised conduct standard for all market infrastructures licensed under the Fina...


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HIGH-VALUE GOODS DEALERS: FIC ISSUES COM...

The latest Financial Intelligence Centre compliance communication focuses on risks faced by high-val...


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BANKING INDUSTRY: DRAFT LOSS ABSORBENCY...

Input is sought on a draft directive prescribing additional requirements to be met by banks in the c...


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FINANCIAL SECTOR REGULATION AMENDMENT AC...

Certain sections of the Financial Sector Regulation Amendment Act, 2021, will soon come into effect...


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FINANCIAL SECTOR: DEPOSIT INSURANCE REGU...

Deposit insurance regulations and monthly data submission requirements have been gazetted and will c...


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TARGETED FINANCIAL SANCTIONS: FINANCIAL...

The Financial Intelligence Centre has issued guidelines for accountable institutions on implementing...


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MICRO INSURERS EXEMPT FROM LONG-TERM POL...

Subject to certain conditions, micro insurers are now exempt from the long-term insurance policyhold...


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FINANCIAL SECTOR OMBUD SYSTEM REFORM: TR...

National Treasury has issued a policy statement on financial sector ombud reforms that will require...


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INSURANCE INDUSTRY: INDEPENDENT INTERMED...

Independent insurance industry intermediaries will continue to be exempt from certain regulatory req...


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COLLECTIVE INVESTMENT SCHEMES: HEDGE FUN...

Collective investment scheme managers are now exempt from certain hedge fund determination requireme...


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JSE EQUITIES: DRAFT AMENDMENTS TO RULES...

Proposed amendments to the JSE equities rules for Krugerrands dealings were eventually released for...


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BANKS ACT REGULATIONS: COVERED DEPOSITS...

Input is sought on a draft directive proposing ‘minimum regulatory requirements relating to … deposi...


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FUNERAL INSURANCE: UDM MP PROPOSES LONG-...

A private member’s Bill being prepared for tabling in Parliament seeks to amend the Long-term Insura...


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TERRORIST FINANCING: PREVENTION GUIDELIN...

Guidelines have been issued for banks and their controlling companies with the intention of ensuring...


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BANKING INDUSTRY: INPUT SOUGHT ON DRAFT...

The Prudential Authority has called for input on a draft directive setting out instructions for iden...


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SARB PROPOSES REPURCHASE AGREEMENT FACIL...

Input is sought on a discussion paper exploring ‘the necessity, feasibility, scope and design featur...


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BANKS ACT: DRAFT DIRECTIVE PROPOSES MINI...

From 1 January 2026, banks could be required to ‘maintain a positive cycle-neutral countercyclical c...


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FINANCIAL INCLUSION: TREASURY PUBLISHES...

A financial inclusion policy framework has been published with the intention of facilitating individ...


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JOHANNESBURG STOCK EXCHANGE: PROPOSED AM...

Input is sought on draft amendments to JSE listing and debt listing equity requirements informed by...


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COLLECTIVE INVESTMENT SCHEME MANAGERS: D...

The recently published draft conduct standard for collective investment scheme managers is proposed...


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TARGETED FINANCIAL SANCTIONS: INPUT SOUG...

Draft targeted financial sanctions compliance guidelines under the Financial Intelligence Centre Act...


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FINANCIAL INTELLIGENCE CENTRE ACT: BENEF...

Input is sought on a draft compliance communication dealing with beneficial ownership in the context...


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PENSION FUNDS ACT REGULATION 28: NEW DRA...

The Financial Sector Conduct Authority intends pursuing plans for the introduction of a holistic app...


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BANKS ACT REGULATIONS: INPUT SOUGHT ON D...

A draft directive affecting auditors' reporting requirements under the Banks Act regulations has bee...


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FINANCIAL SECTOR REGULATION ACT: IT GOVE...

Financial sector IT governance and risk management are the focus of a new standard in force from 15...


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FINANCIAL BENCHMARKS: INPUT SOUGHT ON DI...

The Financial Sector Conduct Authority has called for input on a discussion document exploring the s...


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CORRUPTION: EXPERT WORKING GROUP REPORT...

A recently published report on corruption in South Africa explores ways in which financial instituti...


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FINANCIAL MARKETS ACT: EXEMPTION PROPOSA...

Input is sought on proposals for the criteria to be met by external central counterparties and trade...


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JSE DERIVATIVES RULES: PROPOSED AMENDMEN...

Input is sought on proposed amendments to the JSE derivatives rules affecting exchange-for-risk tran...


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MICRO INSURERS TO BE EXEMPT FROM BENEFIT...

The Financial Sector Conduct Authority intends exempting micro insurers from the long-term insurance...


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BANKING INDUSTRY: OPERATIONAL RISK REPOR...

The Prudential Authority has called for input on two draft directives intended to strengthen operati...


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MONEY LAUNDERING AND TERRORIST FINANCING...

Money laundering and terrorist financing control regulations are to be aligned with Protection of Pe...


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FINANCIAL SECTOR CONDUCT AUTHORITY: MORE...

The Financial Sector Conduct Authority has called for input on proposals for an equivalence framewor...


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BANKS ACT REGULATIONS: PRUDENTIAL AUTHOR...

Input is sought on two sets of Prudential Authority regulatory proposals affecting the banking indus...


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FSCA: INPUT SOUGHT ON PROPOSED ADJUSTMEN...

Proposed adjustments to fees and levies imposed by the Financial Sector Conduct Authority have been...


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TRUST AND COMPANY SERVICE PROVIDERS: FIC...

The Financial Intelligence Centre (FIC) has published guidelines on interpreting the term ‘trust and...


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FINANCIAL INTELLIGENCE CENTRE AMENDMENT...

More sections of the Financial Intelligence Centre Amendment Act, 2017, came into effect on 18 Augus...


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PENSION FUNDS ACT: INPUT SOUGHT ON UNCLA...

Input is sought on a draft replacement interpretation ruling dealing with the payment of unclaimed b...


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JSE AUDITOR ACCREDITATION MODEL TO BE SC...

The Financial Sector Conduct Authority has called for input on proposals for removing auditor accred...


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BANKS AND INSURERS: INPUT SOUGHT ON CLIM...

The Prudential Authority has called for input on four draft guidance notes intended to assist banks...


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DOMESTIC SYSTEMICALLY IMPORTANT BANKS: M...

The Prudential Authority intends issuing a directive requiring local systemically important banks (S...


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PRUDENTIAL AUTHORITY PROPOSES AMENDMENTS...

The Prudential Authority has called for input on proposed amendments to the liquidity risk return fo...


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BANKS ACT: PRUDENTIAL AUTHORITY REVISES...

The Prudential Authority has issued a guidance note adjusting the anticipated implementation dates o...


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OPEN FINANCE: FSCA PUBLISHES DRAFT POSIT...

The Financial Sector Conduct Authority has released a draft position paper on open finance.


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BANKS ACT REGULATIONS: DRAFT CREDIT RISK...

The Prudential Authority has called for input on a draft credit risk reporting directive specifying...


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DEPOSIT INSURANCE: DRAFT REGULATIONS OUT...

National Treasury has called for input on draft regulations setting out the administrative and proce...


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WHAT IS MEANT BY THE TERM ‘CRYPTO ASSET...

The Financial Intelligence Centre (FIC) has issued a communication on what is meant by the term ‘cry...


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EXTERNAL CREDIT ASSESSMENT: INPUT SOUGHT...

The Prudential Authority has called for input on approved banking industry external credit rating ag...


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CO-OPERATIVE BANKS: INPUT SOUGHT ON DRAF...

The Prudential Authority has called for input on a draft directive requiring every co-operative fina...


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FINANCIAL MARKETS: 2020 OTC DERIVATIVE T...

The 2020 standard on margin requirements for non-centrally cleared over-the-counter derivative trans...


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FINANCIAL SECTOR REGULATION ACT: SARB CL...

The South African Reserve Bank has issued a ruling on interpreting and applying sections of the Fina...


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JSE RULES: INPUT SOUGHT ON DRAFT AMENDME...

Input is sought on more draft amendments to the Johannesburg Stock Exchange rules.


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DOMESTIC SYSTEMICALLY IMPORTANT BANKS: P...

The Prudential Authority is calling for input on draft directive requiring domestic systemically imp...


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HEALTH, ACCIDENT INSURANCE REGULATIONS:...

The health and accident insurance benefit annual escalation tables have been published.


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PENSION FUNDS: CONDUCT STANDARD ISSUED O...

The Financial Sector Conduct Authority has issued a communication announcing a new conduct standard...


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ELECTRONIC FUND TRANSFERS: GUIDANCE NOTE...

The Financial Intelligence Centre (FIC) has published a guidance note on electronic fund transfers.


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BANKS ACT: INPUT SOUGHT ON TWO DRAFT DIR...

The Prudential Authority has called for stakeholder comments on two draft directives to be issued un...


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JSE OMBUD SCHEME: INPUT SOUGHT ON RULES...

The Financial Sector Conduct Authority has called for input on draft amendments to various sets of r...


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CORPORATION FOR DEPOSIT INSURANCE ESTABL...

South Africa’s ‘first deposit insurance body’ has been established as a statutory body and subsidiar...


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FINANCIAL EDUCATION: DRAFT CONDUCT STAND...

The Financial Sector Conduct Authority has called for input on a draft minimum standard for financia...


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MONEY LAUNDERING AND TERRORIST FINANCING...

The Financial Intelligence Centre has gazetted two directives on the risk and compliance returns to...


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MONEY LAUNDERING AND TERRORIST FINANCING...

The Financial Intelligence Centre has issued a directive requiring all accountable institutions to s...


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LICENSED EXCHANGE TRADING PLATFORMS: SHO...

The FSCA has called for input on a draft conduct standard for reporting and disclosing short sales.


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BANKS ACT REPORTING REQUIREMENTS: INPUT...

The Prudential Authority has called for comments on a draft directive dealing with reporting require...


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FINANCIAL SECTOR TRANSFORMATION STRATEGY...

The FSCA has published a final strategy for promoting transformation across South Africa’s financial...


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FINANCIAL SECTOR REGULATION ACT: MORE SE...

National Treasury has announced commencement dates for more sections of the Financial Sector Regulat...


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FINANCIAL SECTOR LEGISLATION: MORE COMME...

National Treasury has announced commencement dates for three pieces of financial sector legislation.


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BANKING SECTOR CREDIT & LIQUIDITY RISK F...

The Prudential Authority has called for comments on a draft directive dealing with ‘threshold amount...


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JSE LISTING REQUIREMENTS: DRAFT AMENDMEN...

The Financial Sector Conduct Authority has called for input on two sets of draft amendments to Johan...


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COLLECTIVE INVESTMENT SCHEMES: COMMENT I...

The Financial Sector Conduct Authority has called for input on proposed amendments to a 2014 determi...


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SOUTH AFRICA HAS BEEN GREY-LISTED

The international Financial Action Task Force has grey-listed South Africa.


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PRUDENTIAL AUTHORITY CLARIFIES STATUS OF...

The Prudential Authority has identified which previously issued Banks Act guidance notes are still e...


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INTERNATIONAL FINANCIAL REPORTING STANDA...

The Prudential Authority has called for input on a draft directive intended to introduce additional...


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BANKS ACT: PRUDENTIAL AUTHORITY CALLS FO...

The Prudential Authority is revising its 2017 directive on ‘the regulatory treatment of accounting p...


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COLLECTIVE INVESTMENT SCHEMES: MANAGERS...

The managers of collective investment schemes are now exempt from some requirements affecting amalga...


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JSE APPROVES AMENDMENTS TO FOUR SETS OF...

The JSE has approved amendments to four sets of rules.


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PENSION FUNDS ACT: REPEAL OF REGULATION...

Pension Funds Act Regulation 33 will be repealed on 20 February 2023.


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DERIVATIVE PRODUCTS MARKET CONVENTIONS W...

A derivative products market conventions working paper has been published for public comment.


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FINANCIAL MARKETS ACT: STRATE RULES TO B...

Draft amendments to the Strate (Pty) Ltd rules have been released for comment.


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MONEY LAUNDERING & TERRORISM FINANCING C...

National Treasury has gazetted further amendments to the 2001 money laundering regulations.


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FINANCIAL INTELLIGENCE CENTRE ACT: MORE...

Sections 31 and 56 of the Financial Intelligence Centre Act, 2001, as amended, will come into force...


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FINANCIAL INTELLIGENCE CENTRE: INTERNATI...

The Financial Intelligence Centre has called for input on revised draft guidelines for reporting on...


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TRUST PROPERTY CONTROL ACT: DRAFT REGULA...

Draft regulations under the Trust Property Control Act have been released for public comment.


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CURBING MONEY LAUNDERING, TERRORISM FINA...

The Financial Intelligence Centre (FIC) has issued a reference guide intended to assist accountable...


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FINANCIAL INTELLIGENCE CENTRE ACT SCHEDU...

The Financial Intelligence Centre has called for input on six sets of draft guidelines for accountab...


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NATIONAL TREASURY EXPLAINS NEXT STEPS IN...

Representatives of the international Financial Action Task Force (FATF) will be updated this week on...


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BANKS ACT REGULATIONS AMENDED

National Treasury has amended several key Banks Act regulations affecting governance and risk manage...


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FINANCIAL SECTOR CYBERSECURITY AND CYBER...

The Financial Sector Conduct and Prudential Authorities have called for input on a revised draft cyb...


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ANTI-TERRORISM BILLS LEAVE PARLIAMENT

Parliament has completed its work on two anti-terrorism Bills.


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FINANCIAL SECTOR LEVIES ACTS GAZETTED

To new Acts imposing levies on regulated financial institutions have been gazetted but are not yet i...


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FINANCIAL SERVICES COMPLIANCE OFFICERS

FINANCIAL SERVICES COMPLIANCE OFFICERS


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FINANCIAL SERVICES PROVIDER CODE OF COND...

The code of conduct for financial service providers had been amended.


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FINANCIAL INTELLIGENCE CENTRE ACT SCHEDU...

Schedules 1, 2 and 3 of the Financial Intelligence Centre Act have been amended.


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NATIONAL ASSEMBLY PASSES ANTI-MONEY LAUN...

NATIONAL ASSEMBLY PASSES ANTI-MONEY LAUNDERING BILL


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REVISED ANTI-MONEY LAUNDERING BILL FASTR...

REVISED ANTI-MONEY LAUNDERING BILL FASTRACKED


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CASH TRANSACTION REPORTING THRESHOLD REV...

CASH TRANSACTION REPORTING THRESHOLD REVISED


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CRYPTO ASSETS DECLARED A FINANCIAL PRODU...

CRYPTO ASSETS DECLARED A FINANCIAL PRODUCT


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FINANCIAL SECTOR LEVIES BILLS PASSED BY...

FINANCIAL SECTOR LEVIES BILLS PASSED BY PARLIAMENT


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FLAWS IN CREDIT AMENDMENT ACT TO BE CORR...

FLAWS IN CREDIT AMENDMENT ACT TO BE CORRECTED


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ANTI-MONEY LAUNDERING BILL TABLED IN PA...

ANTI-MONEY LAUNDERING BILL TABLED IN PARLIAMENT


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Financial Intelligence Centre Act schedu...

Financial Intelligence Centre Act schedules: Call for public comments


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Gone to zero: The rise and fall of UST a...

Gone to zero: The rise and fall of UST and why we need regulation in the crypto space


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More draft amendments to the JSE's debt...

More draft amendments to the JSE's debt listings requirements


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