Compliance - Regulatory

Insurance Ombudsman rules in income benefit matters

The Ombudsman for Long-term Insurance Judge Ron McLaren has upheld a complaint against Sanlam for requesting frequent reports to support a claim for income disability benefits and ruled that an annual review would be reasonable.

Determination: Hendrik Everhardus Grundling Du Preez vs Ernest Venter ta Ernest Venter Makelaars

FSCA issues public warning against Thulani FX Mboweni

The Financial Sector Conduct Authority (FSCA) warns the public to act with caution when dealing with Thulani FX Mboweni. The FSCA suspects Thulani FX Mboweni of conducting unauthorised financial services business.

The Struggle for the RDR to Find its Regulatory Footing

The Twin Peaks regulatory model (Twins Peaks) was implemented in April of 2018, fundamentally changing the South African financial regulatory system into two regulatory streams, primarily the Prudential Authority (PA) and Financial Services Conduct Authority (FSCA).