Compliance - Regulatory

Life insurers settled 95.6% of all death claims in 2024

Life insurance members of the Association for Savings and Investment South Africa (ASISA) settled 95.6% of death claims received in 2024, paying beneficiaries of life and funeral policies R39.5 billion in benefits.

South Africa: FSCA shakes up retirement fund administration requirements

The COFI Bill: What financial institutions need to know

Once enacted, the much-anticipated Conduct of Financial Institutions Bill (COFI) will introduce a significant shift in the legislative and regulatory landscape of South Africa’s financial services sector. It forms a key component of the country’s Twin Peaks regulatory reform and will primarily focus on strengthening market conduct regulation across the entire financial services sector.

What….The….Fica

The Financial Intelligence Centre Act (FICA), in effect since 2001, is designed to combat financial crime and align South Africa with global standards such as the FATF recommendations. But its implementation must be risk-based—not administratively burdensome.