The Financial Sector Regulation Bill was signed into law by President Zuma on 21 August 2017. The commencement dates for the new Financial Sector Regulation Act (FSR Act) are not yet known. The act provides the architecture for the new ‘twin peaks’ method of regulation to be adopted across the South African financial services industry, and is … Continue Reading
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 … Continue Reading
On 8 July the Basel Committee (BIS) issued a paper setting out 13 corporate governance principles for banks. These principles supersede the 2010 BIS principles and are to be applied and adapted by national bank regulators as they see fit. This work has been some time in the making with a peer review conducted by … Continue Reading
