In The News

SAUMA delivers another impressive conference

The 9th annual SAUMA conference with its esteemed collection of speakers, was paradigm-shifting, economically up-swinging, regulation-clarifying, corruption-busting and future-embracing.



Please find the FAIS Ombud’s Annual Report 2016-2017 and Media Statement, for your attention.

We wish to draw your attention Page 21-22 of the report under “Trends” in respect of Short-term Insurance, outlining the FAIS Ombud’s concerns.

Banks face hefty fees from Twin Peaks

Consumers would absorb cost of levies, says DA as banks face hefty fees in Twin Peaks financial regulation bill

18 JULY 2017 – 06:31 HANNA ZIADY

The big four banks could each be forced to pay more than R60m a year in fees to regulators if a draft levies bill is adopted in its current form.
Excessive regulatory costs would be passed on to consumers and compromise financial inclusion, said David Maynier, the DA shadow minister of finance.
The DA had opposed the bill, also known as Twin Peaks, in the National Assembly over the uncertainty concerning costs, Maynier said. It had also taken issue with the fact that the National Credit Regulator did not fall under the Financial Sector Conduct Authority.


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