Compliance - Regulatory / Financial Sector Conduct Authority (FSCA) (was FSB)

FSB directive clarifies industry position on causal event charges

In an effort to improve the number of South Africans who can retire comfortably, with a large enough savings net, Government has aggressively been embarking on a retirement reform programme which will have a significant impact on the retirement industry.

FSB granted another Court interdict against Ledimar

Further to the press release issued on 20 September 2013, the Registrar of Financial Services Providers wishes to advise that the South Gauteng High Court has granted a preservation order against Ledimar Investment Holdings CC. The application was brought by the National Directorate of Public Prosecutions, in terms of the Prevention of Organised Crime Act of 1998. In terms of the order, the funds in certain bank accounts belonging to Ledimar Investment Holdings CC have been preserved. This means that the funds have been frozen, and no one is permitted to deal with these funds, except in cases permitted by the order.

The FSB has its say on Model Insurance

One of the unfortunate realities of South Africa is that issues such as fraud and corruption are rampant in certain sectors. While it is seemingly going unchecked in many industries, the financial services industry has managed to keep its integrity intact with the majority of the companies in the industry being reputable financial service providers.

Press release by trustees of Living Hands Umbrella Trust September 2013