Compliance - Regulatory

FSCA warns the public against Jackson Shaw

The Financial Sector Conduct Authority (FSCA) would like to warn the public to act with caution when dealing with an individual who calls himself Jackson Shaw (“Mr Shaw”). The FSCA received information that Mr Shaw is offering personal and business loans to members of the public in return for a fee. Mr Shaw is not authorised in terms of the Financial Advisory and Intermediary Services Act, 2002 (“FAIS Act”), to render any financial advice and intermediary services.

OSTI - Low overturn rate does not necessarily mean insurer excellence

The Ombudsman for Short-Term Insurance (OSTI) has today released its Annual Report on Operations for 2017. Key highlights for the year are that 9 962 complaints were resolved in an average turn-around time of 131 days with an amount of R87 101 354 recovered for consumers.

Do you know…about the new policyholder protection rules? - Part 4

Insurance Act changes released for public comment

During the State of the Nation address in January, President Cyril Ramaphosa finally ended years of speculation when he announced that Twin Peaks will come into effect on 1 April.