Compliance Institute - News & Articles

latest news

Objection to Senwes deal by Treacle is struck down (2 Feb '12)

Senwesbel and Senwes have come out unscathed from a court battle with Treacle, in which the agribusiness and its holding company faced losses of more than R100 million in forgone dividends and damages...

Compliance Risk Management Plans now available (2 Feb '12)

After a year of intensive development, the Compliance Institute Southern Africa announced today that its Compliance Risk Management Plans (CRMPs) are available for purchase online. The CRMPs have be...

Finance sector super-ombud may yet fly (26 Jan '12)

A single statutory consumer complaints resolution office for the financial services industry is back on the agenda as part of the government’s proposed “twin peaks” approach to regulating the industry...

DBN city boss says ‘enough’ (26 Jan '12)

eThekwini city manager S’bu Sithole has called for Section 36 tender awards to be scrapped and only to be used in extraordinary circumstances. Councillors have complained that the Section 36 policy –...

Insurance industry dumps ombud for (26 Jan '12)

Insurance industry dumps ombud for 'not toeing the line' The decision at the end of last year not to renew the contract of Brian Martin as the Ombudsman for Short-term Insurance (Osti) and to appoint ...

Consumer probe unlawful – MTN (23 Jan '12)

An investigation by the National Consumer Commission into MTN’s subscriber agreements and service quality was unlawful, the cellular operator argued before the National Consumer Tribunal on Friday. It...

New retirement reforms must be sustainable (23 Jan '12)

Government’s planned retirement reforms are set to provide South Africans better protection and an enhanced deal from the financial services industry, yet if this new model is to prove successful, it ...

CPD – How will this impact on you? (23 Jan '12)

Your perception of whether the glass is half full or half empty will be sorely tested, not just over the next few months, but quite possibly for as long as you are in the industry. For many, passing t...

SARB probes Umthombo companies (23 Jan '12)

The Reserve Bank is investigating Umthombo Resources and Umthombo Coal for the alleged contravention of exchange control regulations involving millions of rand. These include shortfalls in proceeds f...

Top 10 business continuity issues for 2012 (17 Jan '12)

On 12 December 2012, the current cycle will come to an end—according to the Mayan long count way of reckoning time, that is. Opinion is divided on what this will portend. Spiritual enlightenment ? Or ...

Implementing King III in a Retirement Fund (15 Dec '11)

Retirement funds are legal entities where the stakes are high. In order to ensure that all stakeholders’ interests are attended to and that no misconduct can occur, retirement funds should adhere to t...

Stay Informed (25 Nov '11)

We have added a fantastic new feature to the desktop communicator. In our endeavour to keep our members up to date and informed about what is happening in the industry we often upload news articles...

FAIS Ombud Determinations 2010/2011 (22 Nov '11)

Please click on the above link for the 2010/2011 FAIS Ombud determinations.

FAIS Ombud Determinations 2011/2012 (22 Nov '11)

Please click on the above link for the 2011/2012 FAIS Ombud determinations.

NCR Compliance Notices (22 Nov '11)

Please click on the above link for Compliance Notices issued by the National Credit Regulator

New Bill: National Health Amendment Bill B24-2011 (16 Nov '11)

This Bill was formally introduced into Parliament. Please click on the below link to download the bill or follow the Source link to view this bill and others online.

Trustees fully responsible for compliance... (7 Nov '11)

Trustees fully responsible for compliance with Reg 28 With the December deadline looming for pension funds to comply with the revised Regulation 28 of the Pension Funds Act, trustees must ensure thei...

A wider compliance framework (25 Oct '11)

Compliance has traditionally focused on doing things right, not necessarily on doing the right things. As long as the relevant laws were followed, the ultimate outcome was not the concern of the compl...

Stringent Supervisory Regime for TCF (13 Oct '11)

The Financial Services Board will need to develop a more pre-emptive, intensive and intrusive supervisory framework if its Treating Customers Fairly (TCF) programme is to be successful. The regulator...

Embrace change, compliance officers told (14 Sep '11)

Compliance professionals should embrace the changes affecting their discipline or miss the opportunity to contribute substantively to their organisations. This was the message from Harry Gill, Head of...

Full steam ahead for Treasury’s ‘twin peaks’ model (30 Aug '11)

The period for comment on National Treasury’s ‘twin peaks’ model of financial regulation has expired and the proposals set out in the department’s policy document released in February are being implem...

The Consumer Protection Act –watch the definitions (24 Aug '11)

Watch the definitions in the new Consumer Protection Act, and ensure that any interpretations give effect to the Act’s purpose and policy as set out in Section 3. This was the message from Professor A...

CPA – many small businesses still not compliant (24 Aug '11)

It may be over four months since the Consumer Protection Act became effective, but many small companies, close corporations and other enterprises selling prepaid certificates, credit, cards and vouche...

Comply with conflicts of interest amendment: FSB (21 Jun '11)

Financial services providers that are not complying with the FAIS conflict of interest legislation will not be given any further leeway, according to Wendy Hattingh, head of department for FAIS superv...

Conflicts of interest - comply or else, says FSB (21 Jun '11)

Financial services providers that aren’t complying with FAIS Conflicts of Interest legislation won’t be given any further leeway. This is according to Wendy Hattingh, Head of Department: FAIS Supervis...

Compliance professionals can help protect consumer (2 Jun '11)

Servicing the needs of compliance professionals from a wide range of industry sectors Compliance officers have an important role to play in facilitating the protection of consumers and reducing syste...

Compliance best practice guidelines available (2 Jun '11)

Compliance best practice guidelines available online The Compliance Institute of South Africa announced today that its Generally Accepted Compliance Practice framework (GACP), the first of its kind i...

International compliance bodies set to collaborate (3 May '11)

Increasing internationalisation of compliance obligations The Compliance Institute of South Africa has announced the formation of a global alliance of compliance associations, to be known as the Inte...

CPA and its regulations protects both... (21 Apr '11)

CPA and its regulations protects both consumers and suppliers Consumers aren’t alone in benefitting from the Consumer Protection Act, which came into force on 1st April this year. Suppliers also ben...

No Longer the best kept secret (20 Apr '11)

Compliance Institute of South Africa no longer the best kept secret.

Compliance Institute reaches out to new industries (20 Apr '11)

Compliance Institute reaches out to new industries and public service sector The Compliance Institute of South Africa, which has its roots in the financial services industry, is embarking on a drive ...

Further pressure to comply with FICA (1 Jan '11)

Article from Cover Magazine January 2011

Why complying with FICA is now more important than (20 Dec '10)

The Act has now come into force. Contravention could cost up to R10m for individuals. Failure to fully comply with anti-money laundering legislation will became more risky on December 1. This is whe...

Promoting Confidence in the Compliance Profession (20 Dec '10)

Article from FIA INSIGHT December 2010

New criteria for approval of compliance officers (1 Dec '10)

Article in Cover Magazine December 2010

The POPI Act and its implications for HR (20 Nov '10)

Article from Enterprise Risk magazine November 2010

Compliance moves centre stage (9 Sep '10)

Historically the compliance function was given little status and often wasn’t considered relevant to the central thrust of a business. Compliance was solely about interpreting rules and regulations an...

PPIA: Harmony with other legislation essential (31 Aug '10)

PPIA: Harmony with other legislation essential The Protection of Personal Information Act, expected later this year, has so far seen numerous draft versions and has been a matter of considerable deba...

SA ‘sunny place for shady people’ (28 May '10)

SA ‘sunny place for shady people’ due to lack of compliance Among financial services companies there is a general absence of a culture of compliance with legislation governing the sector, and this ne...

The need for a strong compliance culture (19 Feb '10)

In his Budget Speech, Finance Minister Pravin Gordhan acknowledged the reality of procurement fraud in government departments and announced that a team has been set up to look at procurement as a whol...

Compliance – an integral aspect of risk management (25 Nov '09)

Compliance is an integral aspect of risk management and corporate governance and is about applying the law to business. The compliance officer acts as an adviser and assists management to fulfil its r...