Guidance

Guidance Notices 1, 2 and 3 from the Financial Sector Conduct Authority

A. Guidance Notice 1 of 2018: request for quarterly updates on the information relating to retirement funds' unclaimed benefits – issued 25 June 2018 B. Guidance Notice 2 of 2018: guidance on Directive 8 – prohibition on the acceptance of gratification – issued 8 March 2018 C. Guidance Notice 3 of 2018: cancellation of registration of a fund in terms of Section 27(1) of the Pension Funds Act and termination of participation of employers in umbrella funds – issued 11 July 2018
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The Molefe judgement

Judgement of the Democratic Alliance v Minister of Public Enterprise and Others; Economic Freedom Fighters v Eskom Holdings Limited and Others; Solidarity Trade Union v Molefe and Others.
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The Prudential Authority: what is it?

Recently, we discussed the Financial Sector Conduct Authority. In this edition, we consider the Prudential Authority. Both of these regulators were introduced as part of the Twin Peaks model of financial sector regulation to regulate financial institutions (which includes retirement funds, administrators and insurers) under the Financial Sector Regulation Act.
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The arrival of the Financial Sector Conduct Authority

In a recent letter to stakeholders, Abel Sithole, in his capacity as Commissioner of the newly established Financial Sector Conduct Authority (FSCA), announced that the Financial Services Board (FSB) had been “transformed” into the FSCA as of 1 April 2018. 
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The National Budget 2018

The first Budget speech under the presidency of Cyril Ramaphosa was delivered on 21 February 2018 by Minister of Finance Malusi Gigaba. The 2018 National Budget directs spending to the most pressing national priorities namely educating the youth; protecting the vulnerable and investing in enablers of inclusive growth. Budget 2018 charts a path out of economic stagnation, anticipating a steady increase in economic growth which will create a path to prosperity for South Africans and improve our nation's finances over time.