In-depth articles and publications of the key issues facing financial institutions.
The purpose of the Retail Distribution Review (‘RDR’) by the Financial Services Board (‘FSB’) effectively seeks to ensure insurance distribution models are aligned to achieving Treating Customers Fairly (‘TCF’) outcomes.
A derivative is a transaction, contract or arrangement, whose value is derived from and is dependent on the value of an underlying asset such as equities, currency or commodities.
Capital adequacy is the amount of capital a bank or other financial institution has to hold as required by a financial regulator in this case the JSE.
Organisations are continuously challenged by the complexity and increasing number of laws, regulations, codes and standards that need to be complied with. Never before has the need for an effective compliance function been so acute.
The department of trade and industry has indicated their concern over the “worrying increase in levels of over-indebtedness.
The potential is clear: billions of prospective new customers, a growing middle class, maturing regulatory landscapes and increasing financial literacy are all combining to create important new markets for the insurance sector.
This New on the Horizon provides detailed analysis on the IASB's recent discussion paper on accounting for dynamic risk management activities.
The National Credit Amendment Act (“the Amendment Act”) was enacted on 19 May 2014 but effective date has not yet been tabled.
The National Credit Act (“NCA”) entered into effect on 1 June 2007. The NCA serves to codify a comprehensive set of basic rights and protections for consumers (as defined) in credit arrangements.
Although South Africa has had exchange control since 1939, the current governing legislation is set out in the Exchange Control Regulations “Regulations” promulgated in 1961 in terms of the Currency and Exchanges Act, 1933 “the Act”.
Binder functions refer to the authority granted to an underwriting manager or intermediary to enter into or to settle claims on behalf of an insurer.
The Leverage Ratio (“LCR”) was introduced with the implementation of Basel III and subsequently the South African Reserve Bank (“SARB”) implemented the Basel III regulations from December 2012.
The South African Reserve Bank (“SARB”) implemented Liquidity Coverage Ratio (“LCR”) which were introduced with the implementation of Basel III from December 2012.
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
The global publication, Managing the data challenge in banking, looks at the Basel 239 Principles and the underlying challenges of risk data aggregation.