This blog was co-authored by Michael McCarthy, trainee associate, litigation insurance.

On 20 March 2024 the Financial Sector Conduct Authority published a number of administrative sanctions for financial services providers who had failed to comply with the Financial Intelligence Centre Act (FICA). The FSCA, the supervisory body responsible for financial services providers under FICA, issued

The number of “money mule” scams i.e. where criminals approach bank customers with requests to have funds (often the proceeds of crime) paid into their accounts and often offer them a reward for the use of the account, is unfortunately on the rise. In a press release dated 10 July 2023, the FSCA has warned

On 18 April 2023, the Financial Sector Conduct Authority published its first Regulatory Actions Report,  covering the period 1 April 2022 to 31 March 2023. The Report highlights enforcement action taken during the reporting period, with a view to not only deterring unlawful conduct, but also to create awareness of regulatory requirements.

Some of the

In Viceroy Research Partnership LLC and others against the Financial Sector Conduct Authority, the Financial Services Tribunal was faced with the question whether the FSCA had the authority to impose administrative penalties jointly and severally on three partners in a foreign partnership who were not South African citizens nor residents, and the acts allegedly committed

This blog was co-authored by: Kristen de Wet, Candidate Attorney

The 31 May 2022 publication of FSCA CRA Notice 2 of 2022 (Exemption Notice) by the Financial Sector Conduct Authority (FSCA) has determined that the exemption for certain regulated persons, as set out in the FSCA CRA Notice 3 of 2020 (Provisional Exemption), is finalised

This blog was co-authored by Kristen de Wet, Candidate Attorney

On 4 April 2022, the Financial Services Tribunal in JHE Murray v FSCA, held that there exists no requirement in terms of the legislative framework that obliges the Financial Sector Conduct Authority (FSCA) to conduct a formal hearing before making administrative decisions. Consequently, reconsideration

In November 2020, the FSCA released a draft declaration to include crypto assets as ‘financial products’ under the Financial Advisory and Intermediary Services Act, 2002.  The effect of the draft declaration, once made final, would be that any person providing advice or intermediary services in relation to crypto assets would need to be licensed as

This blog was co-authored by: Hishaam Khan, Associate Designate

The Financial Sector Conduct Authority (FSCA) published FSCA CIS Notice 1 of 2022 which determines amounts in addition to those in section 93(1) of the Collective Investment Schemes Control Act, 2002 (CISCA) that may be deducted by a manager from a portfolio.

The Notice permits the