Compliance - Regulatory

D-Day for POPI Act compliance looming

After a seven year wait President Ramaphosa has announced that 01 July 2020 is D-Day for the commencement of the POPI Act. Businesses will have a grace period of 12 months in which to ensure they are compliant with the various parameters of the Act.

FSCA publishes final amendments under the FAIS Act

On 26 June 2020, the Financial Sector Conduct Authority (FSCA) published final amendments to the General and Short-term deposit Codes of Conduct as well as Fit and Proper requirements under the FAIS Act. The amendments are necessary to contribute to the fulfilment of the FSCA’s legislated objectives and are ultimately intended to promote the fair treatment and protection of financial customers.

Protection of Personal Information Act, 2013 – Important update

South Africa’s data privacy law finally nears full implementation

The Protection of Personal Information Act (POPI), which has been on the cards since 2014, is nearing full implementation following the President’s 22 June 2020 announcement of the commencement of additional sections of the act. According to the Presidency, the act “gives effect to section 14 of the Constitution which provides that everyone has the right to privacy”. Its various sections ensure the protection of personal information that is processed by public and private bodies and seeks to balance the right to privacy against other rights, such as access to information. The President proclaimed sections 2 to 38; sections 55 to 109; section 111; and section 114 (1), (2), and (3) on 1 July 2020.