“Retrospective pension fund rule amendments not registered by FSCA do not bind members” says ConCourt

By Michelle David, Amina Yuda and Ntokozo Ngubane on August 23, 2023 Posted in Banking

The Constitutional Court has provided much needed certainty to the retirement fund industry following the surprising April 2022 judgment of the Supreme Court of Appeal in Municipal Employees Pension Fund & Another v Pandelani Midas Mudau and Another. On 02 August 2023, the Constitutional Court overturned the SCA judgment. The facts of the matter are … Continue reading

Powers of the Financial Services Tribunal

By Donald Dinnie and Patrick Bracher (ZA) on May 13, 2021 Posted in General

Industry role players who have found themselves subject to regulatory action taken by the Prudential Authority (PA) or the Financial Sector Conduct Authority (FSCA) may apply to the Financial Service Tribunal (FST) for reconsideration of that action. Reasons for the decision can be requested within 30 days and the application must be made within 30 … Continue reading

New Prudential Authority CEO: FSB now Conduct Authority

By Patrick Bracher (ZA) on April 9, 2018 Posted in General

The National Treasury has announced the appointment of Deputy Governor of the Reserve Bank, Kuben Naidoo, as the CEO of the Prudential Authority under the Financial Sector Regulation Act. The announcement also explains the process for appointing the Commissioner and Deputy Commissioner of the Financial Sector Conduct Authority. The FSB will ‘close down on 31 March … Continue reading