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Tag Archives: financial services

Posted in Regulatory and legislative updates, UK

Vulnerable customers and financial services: what does the future hold?

The fair treatment of vulnerable customers is a key priority for the FCA. It is an important topic not least because the FCA considers that half of UK adults (25.6 million people) display one or more characteristics of potential vulnerability. The FCA’s definition of a vulnerable customer is intentionally broad and captures anyone who “due

Posted in European Union, Regulatory and legislative updates, UK

Addressing Implementation: Messages from the FCA Workshop on its approach to consumers

The FCA held a workshop last week on Customers in Vulnerable Circumstances which focused on its approach to ensuring inclusive and fair treatment of vulnerable consumers in the financial services industry. Much of the focus draws from its Approach to Consumers published in July 2018 (see our previous FISion blog here). The FCA said? The

Posted in Regulatory and legislative updates, South Africa

South Africa: Sasol Limited v CINPF: The rules take precedence

Often our courts are called upon to adjudicate disputes relating to the interpretation of rules of pension and provident funds where there is a lacuna or disagreement among the relevant stakeholders.  Sasol Limited v Chemical Industries National Provident Fund [2015] ZASCA 113 (7 September 2015) was one such matter.  The issue at hand was whether

Posted in Regulatory and legislative updates, South Africa

South Africa: Breaking the golden egg – The pitfalls of written admissions in section 37D of the Pensions Fund Act

The protection of pension fund assets against credits has been a topic of debate in several countries.  The ultimate risk faced by pension fund members and pension fund beneficiaries is the loss of retirement income.  As a general rule, most countries have legislative means which seek to protect pension fund members’ benefits.  Accordingly, South Africa

Posted in Market developments, UK

Scottish referendum: Is your business prepared?

On 18 September 2014, Scotland is holding a referendum on independence from the UK. Voters will be asked “Should Scotland be an independent country?” How much do you know about the referendum and should your business be taking steps to deal with the outcome now? There are a myriad of issues should the referendum result