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Cybercrimes and Cybersecurity Bill to be tabled in Parliament

02 February 2017

A revised draft of the Cybercrimes and Cybersecurity Bill will be tabled in Parliament in the first quarter of 2017.

Will we get reciprocal reinsurance arrangements?

26 January 2017

The FSB’s Reinsurance Regulatory Review Position Paper in September 2016 sketches a reinsurance regime by which foreign reinsurers wishing to reinsure South African risks will have to register as a licensed branch in South Africa unless the foreign reinsurer is regulated by a country with an equivalent regulatory framework according to the FSB. Presumably the traditional jurisdictions will be approved, notably the UK and EU jurisdictions.

My phone, my photos!

24 January 2017

Although an employee has a right to privacy, it is not absolute.

The Registrar’s exemption powers impacted by the financial sector regulation bill

06 January 2017

Retirement funds seeking exemptions in terms of the Pension Funds Act, 1956 (PFA) must take note that section 281 of the Financial Sector Regulation Bill B34B -2015 (FSRB) (which was passed by the National Assembly on 6 December 2016 and sent to the National Council of Provinces for concurrence) also contains general exemption powers that will be granted to the Registrar if the FSRB is promulgated in its current form. This will impact the scope and application of the Registrar’s exemption powers and so has implications for those seeking exemptions.

quick poll

Question

The strongest deterrent against FSP compliance missteps is or should be:

Answer

A criminal conviction Debarment Fine or penalty Any of the above can work

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