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FSCA NEWSLETTER – MARCH 2021

Editor's Note

The financial year ending March 2021 can only be described as challenging for everyone. As we round it up, we can confidently say that we’ve delivered against our strategic objectives and we continue to hold up the...

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SHORTLISTED CANDIDATES FOR FSCA COMMISSIONER POSITION

ASTRID LUDIN

Astrid Ludin is the Manager: Financial Markets and Digital Innovation at DNA Economics. Before joining DNA Economics, Ludin co-founded the Institute for the Digital Economy in Africa (iDEA) in January 2019 and served as its director.

UNATHI KAMLANA

Unathi Kamlana is the Head – Policy, Statistics, Legal & Industry Support Department for the Prudential Authority in the South African Reserve Bank (SARB). In this role, he reports to the Deputy Governor - the Chief Executive Officer
(CEO) of the Prudential Authority.

ON THE REGULATORY FRONT

Regulation in the time of Covid-19 and beyond

The retirement funds sector in South Africa has seen significant change in the past few years – with the focus largely on stronger regulation to protect the interests of members. There can be little doubt that the global COVID-19 pandemic, which has posed both a health and economic crisis globally, has also had an impact on the industry. As a member of the International Organisation of Pension

Crypto health warning for financial customers

Crypto assets, including cryptocurrencies, are digital representations of value that are not issued by a central bank. Some of the more well-known crypto assets include Bitcoin (BTC) and Ethereum (ETH). Crypto assets are traded, transferred and stored electronically and have been used for payments, investments and capital-raising...

INCREASE IN MONEY LAUNDERING AS A RESULT OF THE COVID-19 PANDEMIC

The World Health Organisation (WHO) declared the COVID-19 outbreak an international pandemic in March 2020. South Africa and other countries have responded by imposing lockdowns with a variety of public health measures and implementing stimulus programmes to help protect individuals and companies. These measures have in turn presented criminals with new opportunities to commit crimes and launder the proceeds. The Special Investigating Unit (SIU) issued a report on 5 February 2021 on their investigation into procurement irregularities as a result of public health measures...

ENFORCEMENT MATTERS

Meet the man responsible for Enforcement at the FSCA

Meet Brandon Topham, Divisional Executive for Enforcement at the FSCA. Brandon is an accomplished business executive with considerable local and international experience in corporate governance, finance and commercial law, and has been with the organisation since February 2019.

Administrative Penalties

FSCA imposes penalty on Southern Africa Funerals Assurance Services Holdings (Pty) Ltd and Mr Ryno Delport

FSCA imposes penalty on Mr Mareo-John Nel t/a Simply FX

ALL ABOUT THE FINANCIAL CUSTOMER Money Smart Week South Africa 2021 Money Smart Week South Africa (MSWSA), an initiative of the National Consumer Financial Education Committee (NCFEC), is a financial literacy campaign aimed at motivating and empowering South Africans to become better educated about their finances. MSWSA 2021 took place between 22 and 28 March and comprised a host of online events throughout the week, all of which were live streamed on www.mswsa.co.za, a zero rated platform for the public. Read more


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