Tag: Financial Sector Conduct Authority (FSCA)
Open banking – exploring the new frontier
The concept of open banking is forcing banks to reconsider the way they think about financial services and is poised to reshape banking as it’s understood today. Realising that this is the new frontier of banking, we are far advanced in our research into open banking, including its challenges and the opportunities it presents.
COVID-19: impact on banks and expectations on regulated entities
In response to the COVID-19 emergency, the South African Reserve Bank (Reserve Bank) and the South African financial sector regulators, the Prudential Authority and the Financial Sector Conduct Authority (FSCA), have implemented several mitigation measures to support the economy and companies.
FAIS – fit and proper compliance a business imperative
The Financial Advisory and Intermediary Services Act (FAIS) is designed to create a professional code of conduct with specific outcomes and measurements which Financial Services Providers (FSPs) must comply with.
Draft conduct standard for banks published
The Financial Sector Conduct Authority (FSCA) has published a Draft Conduct Standard for Banks, under section 106(2)(b) of the Financial Sector Regulation Act 2017 (FSRA). The draft Conduct Standard applies to banks, mutual banks, co-operative banks, branches of foreign banks and representative offices of foreign banks (banks) and will apply in addition to any other requirement already imposed on banks by other financial sector laws.
Is your financial advisor compliant?
An avalanche of regulations governing wealth management means that wealth managers have had to adapt their business models to remain compliant. With all the new rules and regulations in place it is important to ask your financial advisor certain questions to ensure they are compliant.
