Legislation: Urgent financial sector regulation amendments released

Urgent draft amendments to regulations under the 2017 Financial Sector Regulation Act were released yesterday for comment by 27 March, reports Pam Saxby for Legalbrief Policy Watch. The revised regulations must be in place before the end of this financial year and have already been tabled in the National Assembly. They follow a notice gazetted on Monday providing some insight into the implications of the changes envisaged for the Financial Services Tribunal and Council for Medical Schemes, on which Legalbrief Today has already reported. The transitional arrangements concerned will enable both institutions to continue operating pending the commencement of the necessary new legislation. In addition, clarity is provided on the status of the Financial Sector Conduct Authority in relation to various statutory ombudsmen.

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