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The Financial Sector Conduct Authority publishes its South African draft position paper on open finance

11 July 2023 | Financial Sector Conduct Authority (FSCA) (was FSB)

The Financial Sector Conduct Authority (FSCA) has published its draft position paper on Open Finance.

Publication of the FSCA’s Regulation Plan (2023 – 2026)

05 July 2023 | Financial Sector Conduct Authority (FSCA) (was FSB)

On 30 June 2023 the FSCA published its 2023 Regulation Plan, covering the period 1 April 2023 to 31 March 2026.

Five insurance determination smackdowns

04 July 2023 | Insurance Ombudsman

The third joint Annual Report of the Ombudsman for Long-term Insurance (OLTI) and Ombudsman for Short-term Insurance (OSTI) included five insurance complaint ‘smackdowns’ against the country’s life insurers, and one against the short-term players. If you want detailed accounts of these determinations, you will have to trawl through the 100-page Insurance Ombudsman 2022 Annual Report. Alternatively, a quick-and-easy overview follows in today’s newsletter.

Fund took the "back door" rather than investigate properly

03 July 2023 | PFA - Pension Fund Adjudicator

Rather than conducting a proper investigation to trace who should be allocated a death benefit, a retirement fund decided to go “through the back door” and allocate the benefit to the deceased’s estate.

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Are financial advisers ready for the combined impact of COFI and AI?

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