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FAIS Ombud Suspiciously high investment returns

28 February 2023 | FAIS Ombudsman

The Office of the FAIS Ombud welcomed the recent resolution of a complaint by a major Financial Service Provider (‘FSP’) involving a complainant who suffered significant financial losses after investing in a fraudulent investment scheme.

Local CIS assets under management recover to previous highs

27 February 2023 | Association for Savings & Investment SA (ASISA)

The local Collective Investment Schemes (CIS) industry recorded net inflows* of R108 billion in 2022, ending the year with R3.14 trillion in assets under management.

Hedge fund industry sees assets under management jump by an unprecedented 30% in 2022

27 February 2023 | Association for Savings & Investment SA (ASISA)

The South African hedge fund industry grew its assets by an unprecedented 30% in 2022, ending the year with R113.01 billion under management. The industry’s assets under management stood at R86.93 billion at the end of 2021.

The FSCA affirms tougher stance to combat money laundering and terrorist financing

27 February 2023 | Financial Sector Conduct Authority (FSCA) (was FSB)

On 24 February 2023, the Financial Action Task Force (FATF) announced its decision to place South Africa on its grey list.

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