South Africa

Details

  • Industry: Financial Services
  • Type: Business and industry issue
  • Date: 2014/08/12

Africa Regulatory Center of Excellence

Feature image
KPMG’s Financial Services Regulatory Centers of Excellence, our firms' leading global regulatory experts, can provide insights into the implications of the raft of regulatory change and the direction of developments around the world.

Consumer Credit Insurance 

consumer credit
On 3 July 2014, the National Treasury of South Africa released the “Technical Report on The Consumer Credit Insurance Market in South Africa” -  the culmination of a three-year review into the local market, which also highlights a series of abuses in Consumer Credit Insurance.


 Consumer Credit Insurance Factsheet (PDF 1.91MB)
  Consumer Credit Insurance is purchased by consumers to ensure payment of credit extended to them, in pre-defined circumstances in which they are no longer able to service their debt.

KPMG has developed a series of work-programmes and procedures to provide clients with independent, external assurance in determining their preparedness in relation to conduct risk. In addition, we assist clients to understand the current state of their consumer credit index (CCI) and lending offerings, and whether these are compliant with the legislative framework.
 

Share this

Share this

Contact

Contact

Anthony Smith
Tel: +27 (0)76 512 1802 
anthony.smith@kpmg.co.za

 

 

Mark Danckwerts
Director, Insurance
Financial Services
Tel: +27 (0)82 710 3261
mark.danckwerts@kpmg.co.za

Twin-peaks regulation: key changes and challenges

Feature image
Following a formal review of the South Africa financial regulatory system in 2012, it was proposed that South Africa move towards a “Twin Peaks” model of financial regulation