On 28 September 2020, National Treasury released the second draft Bill regulating the conduct of Financial Institutions, for comment. The aim of the Bill is to impose conduct standards for financial institutions to protect financial customers. The Bill is the second peak of the Twin Peaks model and will require market conduct that emphasises the … Continue reading
When the Financial Sector Regulation Act (FSRA) was introduced in 2018, the FSCA was tasked with regulating and supervising the way banks conduct themselves in relation to the provision of financial products and services to customers. In fulfilment of this mandate, the FSCA has published a conduct standard for banks. The conduct standard is supported … Continue reading
On 8 June 2020, the Financial Sector Conduct Authority published three draft conduct standards for public comment to be made by 31 July 2020. The purpose of the draft conduct standards is to regulate the: conditions for living annuities in an annuity strategy; communication of benefit projections to members of pension funds; and conditions for … Continue reading
On 20 May 2020, the Financial Sector Conduct Authority (FSCA) published a draft Conduct Standard for Exchanges and a draft Directive for Exchanges. Conduct Standard for Securities Exchanges The main objective of the proposed conduct standard is to introduce requirements for the conduct of securities exchanges in response to increased competition in the South African … Continue reading