The Paypers’ Post

📢 In this week's edition of CompliNEWS, powered by Juta! Stay updated with the latest legislative changes, key rulings, enforcement news, and more. Here's a sneak peek of what you can expect: Legislative Changes and Developments Companies Act Amendments Signed: Our full analysis on the latest amendments to the Companies Act. Experts Divided on Gauteng High Court Ruling Impact on NHI: Insightful commentary on the recent ruling and its implications. Relevant Rulings Bongani Progress Masela v Momentum Insure Company Ltd: Debarment set aside by the FST - what this means for the industry. Enforcement News FSCA Annual Enforcement Roadshow: An invitation to stay ahead of the curve with the latest enforcement trends. News from the Regulators FSCA and NCR Campaign: Nationwide initiative to empower consumers on financial management and debt counselling. Common Monetary Area: Regularising electronic funds transfer payments. Compliance Focus SARS Curveball: Disallowance of digital filing for tax returns older than five years. Financial Rule Changes: Scrutiny on OTC derivatives. Anti-Money Laundering Terrorism Financing Risk Assessment: South Africa’s financial sector on high alert. Non-Compliant Law Firms and Estate Agents: FIC’s stance on compliance. Crypto Assets UK's FCA Fines Coinbase Subsidiary: First enforcement case against a firm enabling cryptoasset trading. Top Practices for Cryptocurrency Compliance: Essential tips for staying compliant in the crypto space. Data Protection Global IT Crash: Highlights cybersecurity flaws and insurance challenges following a CrowdStrike update. ESG (Environmental, Social & Governance) SA Banks and Global Energy Shift: Potential R1 trillion hit from global energy transition. Private Equity SAVCA Venture Capital Conference 2024: Robust growth amidst global challenges. Local and International News Discovery Health Medical Scheme Litigation Against NHI: Insights on potential impacts. UK Supreme Court Appeals: Ex-currency traders Tom Hayes and Carlo Palombo cases to be heard. Don't miss out on these critical updates! Subscribe now and stay informed with CompliNEWS, your trusted source for compliance news. www.jutacomplinews.co.za #CompliNEWS #Compliance #RegulatoryUpdates #Legislation #Crypto #AML #DataProtection #ESG #PrivateEquity #FinancialNews #Juta

New Rules to Strengthen Resilience of UK’s Financial Sector "The Financial Conduct Authority, Bank of England and Prudential Regulation Authority have set out how they intend to use their new powers, having consulted widely and working closely with industry to inform the design of the regime. The new rules align closely with international standards and similar regimes, like the EU’s Digital Operational Resilience Act." https://lnkd.in/eGpPEcC5 Mohammed Gharbawi Tom Mutton Louise Eggett James Hotson Melvin Lopez Reuben Wales Ruth Griffiths #fintech #finance #banking #paytech #payments #fintechnews #paymentsnews

💡 If we want to create smart legislation that boosts the EU’s global competitiveness, European regulators need to fully understand the potential implications of that regulation. When it comes to financial data access, which is important for the digital economy and future innovation, more time and scrutiny is needed before finalizing the new FiDA regulation. ✍️ EFAMA, the European Banking Federation, Insurance Europe, AFME (Association for Financial Markets in Europe), WSBI-ESBG, and European Association of Co-operative Banks have issued a joint statement calling for further assessment of FiDA - https://lnkd.in/eU-UUN6e Many things are still not clear: ➡️ The potential impact across the entire value chain ➡️ The costs involved for implementation ➡️ The potential consumer benefits and market demand 🔒 There are also important concerns around data security and privacy. FiDA would create new entities called financial information service providers (FISPs) that will handle large quantities of sensitive customer information - but without the same regulatory standards and oversight applied to financial institutions. #financialdata #dataprivacy #competitiveness 

The consultation invites views from interested participants on how the DSS will operate in practice, in order to maximise the potential benefits from the technology while protecting financial stability and market integrity. #finance #FCA

The consultation invites views from interested participants on how the DSS will operate in practice, in order to maximise the potential benefits from the technology while protecting financial stability and market integrity. #finance #FCA

The European Union's proposed Financial Data Access (FiDA) Regulation is set to transform the financial landscape by promoting open finance and enhancing consumer control over personal data. While this initiative aims to foster innovation and competition, it has raised significant concerns among industry stakeholders regarding data privacy, security, and the potential impact on sector competitiveness. In a recent article, Fintech Industry Examiner delves into the complexities of FiDA, exploring both its promising benefits and the challenges it presents. The piece highlights the importance of a balanced approach to ensure that consumer protection is not compromised in the pursuit of technological advancement. For a comprehensive understanding of FiDA's implications and the ongoing debate among financial associations, read the full article here: https://lnkd.in/d6bet2Y9 We invite professionals and organizations in the financial sector to share their perspectives on this pivotal regulation. Engaging in this dialogue is crucial as we navigate the intersection of innovation and consumer protection in the evolving financial ecosystem. #OpenFinance #DataPrivacy #FinancialRegulation #Innovation #ConsumerProtection

The consultation invites views from interested participants on how the DSS will operate in practice, in order to maximise the potential benefits from the technology while protecting financial stability and market integrity. #finance #FCA

The consultation invites views from interested participants on how the DSS will operate in practice, in order to maximise the potential benefits from the technology while protecting financial stability and market integrity. #finance #FCA

The consultation invites views from interested participants on how the DSS will operate in practice, in order to maximise the potential benefits from the technology while protecting financial stability and market integrity. #finance #FCA

The consultation invites views from interested participants on how the DSS will operate in practice, in order to maximise the potential benefits from the technology while protecting financial stability and market integrity. #finance #FCA