FINANCIAL SECTOR LEVIES: DRAFT AMENDMENTS OUT FOR COMMENT

FINANCIAL SECTOR LEVIES: DRAFT AMENDMENTS OUT FOR COMMENT

• 08 June 2026
• Financial Sector
• SA Legal Academy

National Treasury has gazetted proposed amendments to certain elements of the 2022 Financial Sector & Deposit Insurance Levies Act’s Schedules 2 and 5 – calling for input by 8 July 2026. This is noting that:

• Schedule 2 prescribes levies for entities supervised by the Financial Sector Conduct Authority, while
• Schedule 5 prescribes levies for entities supervised by statutory ombud schemes.

Proposed amendments to Schedule 2 have implications for reinsurers.

Proposed amendments to Schedule 5 affect:

• pension funds, and
• financial services providers.

According to the notice concerned, levies payable to the Ombud Council will be adjusted automatically, informed by the changes to Schedule 2 once finalised.

• draft amendments
• Act, updated (SAFLII)

Published by SA Legal Academy Policy Watch

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