Regulated Industries

This page includes both local and international information related to the implications of COVID-19 on members in regulated industries such as retirement funds, investment management and insurance (FSCA), medical schemes (CMS) and banking (SARB).

 

For all other regulated industries related support, please refer to the Financial Services webpage.

Organisation	Industry	Document	Date
Financial Sector Conduct Authority (FSCA)	Investment Management	Communication to managers of Collective Investment Schemes regarding approval of supplemental deeds	23 September 2020
Parliament of South Africa	Retirement Funds	Draft Pension Funds Amendment Bill, 2020	18 September 2020
Council for Medical Schemes (CMS)	Medical schemes	PMB definition guideline on COVID-19 v5	4 September 2020
Financial Sector Conduct Authority (FSCA)	Insurance	Update on contingent business interruption insurance cover	12 August 2020
Council for Medical Schemes (CMS)	Medical schemes	2020 – COVID Financial Reporting	5 August 2020
South African Reserve Bank (SARB): Prudential Authority	Banking	Guidance relating to the duration of Banks Act Directive 3 of 2020	3 August 2020
Financial Sector Conduct Authority (FSCA)	Retirement Funds	Boards of retirement funds: expiration of terms of office and COVID-19	28 July 2020
South African Reserve Bank (SARB): Prudential Authority	Banking	Update on COVID-19 loan guarantee scheme	26 July 2020
Council for Medical Schemes (CMS)	Medical schemes	Industry update on COVID-19 exemptions and guidelines	23 July 2020
Financial Sector Conduct Authority (FSCA)	Various industries	Impact of COVID-19 on compliance with requirements of the Financial Markets Act	7 July 2020
Financial Sector Conduct Authority (FSCA)	Insurance	Extension for the submission of the Insurance Conduct of Business Returns	6 July 2020
Financial Sector Conduct Authority (FSCA)	Insurance	COVID-19 – Regulatory Response: FSCA’s on Business Interruption Insurance	18 June 2020
South African Reserve Bank (SARB): Prudential Authority And Financial Sector Conduct Authority (FSCA)	Various industries	Joint Communication 7: Precautionary measures by financial institutions and payments institutions to limit the spread of the COVID-19 pandemic	17 June 2020
Council for Medical Schemes (CMS)	Medical schemes	PMB definition guideline on COVID-19 v3	11 June 2020
South African Reserve Bank (SARB): Prudential Authority And Financial Sector Conduct Authority (FSCA)	Various industries	Joint Communication 6: Joint Standard 2 of 2020 – Margin Requirements for non-centrally cleared OTC derivative transactions	2 June 2020
South African Reserve Bank (SARB): Prudential Authority	Banking	G6/2020: Further guidance on matters relating to the application of IFRS 9 in response to COVID-19	29 May 2020
South African Reserve Bank (SARB): Prudential Authority	Banking	G5/2020: Suspension of the flavour-of-the-year topics for the remaining 2020 meetings with boards of directors of banks and controlling companies	15 May 2020
Financial Sector Conduct Authority (FSCA)	Insurance	Update on the further developments and the reporting frequency in relation to the Conduct of Business Returns (CBRs) for insurers	13 May 2020
South African Reserve Bank (SARB): Prudential Authority And Financial Sector Conduct Authority (FSCA)	Insurance	Joint Communication 5: Covid-19 – Regulatory response – Business Interruption Insurance	12 May 2020
South African Reserve Bank (SARB): Prudential Authority And Financial Sector Conduct Authority (FSCA)	Insurance	Joint Communication 4: Clarification on certain regulatory requirements applicable to funeral insurance	08 May 2020
Financial Sector Conduct Authority (FSCA)	Investment Management	Exemption of Managers of Collective Investment Schemes from	08 May 2020
Council for Medical Schemes (CMS)	Medical schemes	Circular 33 of 2020: Understanding medical scheme reserves (in light of COVID-19 claims)	07 May 2020
Council for Medical Schemes (CMS)	Medical schemes	Medical Schemes Act Regulations Amendment	07 May 2020
South African Reserve Bank (SARB): Prudential Authority And Financial Sector Conduct Authority (FSCA)	Accountable Institutions	Joint Communication 2A of 2020: COVID-19 – Supervisory response	06 May 2020
Council for Medical Schemes (CMS)	Medical schemes	PMB definition guideline on COVID-19 v2	05 May 2020
South African Reserve Bank (SARB): Prudential Authority And Financial Sector Conduct Authority (FSCA)	Various industries	Proposed implementation dates of specific regulatory frameworks as a result of the coronavirus disease (COVID-19) pandemic	29 April 2020
	Various industries	Proposed implementation dates of specific regulatory frameworks as a result of the coronavirus disease (COVID-19) pandemic	29 April 2020
Financial Sector Conduct Authority (FSCA)	Various industries	Extension of period for compliance with various requirements related to the submission of statutory returns	21 April 2020
Financial Sector Conduct Authority (FSCA)	Investment Management	Impact of COVID-19: Expectations on managers of Collective Investment Schemes	21 April 2020
South African Reserve Bank (SARB): Prudential Authority And Financial Sector Conduct Authority (FSCA)	Accountable Institutions	Joint Communication 2 of 2020: COVID-19 – Supervisory response	21 April 2020
South African Reserve Bank (SARB): Prudential Authority And Financial Sector Conduct Authority (FSCA)	Insurance	Joint Communication 1 of 2020: COVID-19 – Regulatory response	16 April 2020
Financial Sector Conduct Authority (FSCA)	Retirement Funds	Impact of COVID-19 on compliance with pension fund valuation submission requirements	16 April 2020
Financial Sector Conduct Authority (FSCA)	Financial Service Providers	Exemption of Financial Services Providers and Juristic Representatives from certain Financial Soundness Requirements	15 April 2020
Financial Sector Conduct Authority (FSCA)	Insurance	Exemption of short-term and long-term insurers providing premium relief, from certain provisions of the Regulations	15 April 2020
Council for Medical Schemes (CMS)	Medical schemes	PMB definition guideline on COVID-19	14 April 2020
South African Reserve Bank (SARB): Prudential Authority And Financial Sector Conduct Authority (FSCA)	Various industries	Directive to financial institutions regarding appropriate precautionary measures when performing essential financial services	09 April 2020
South African Reserve Bank (SARB): Prudential Authority	Banking	Impact of Covid-19 on the Prudential Authority’s reporting timelines	08 April 2020
South African Reserve Bank (SARB): Prudential Authority	Banking	D2/2020: Matters related to temporary capital relief to alleviate risks posed by the Covid-19 pandemic	06 April 2020
South African Reserve Bank (SARB): Prudential Authority	Banking	D3/2020: Matters related to the treatment of restructured credit exposures due to the Coronavirus (Covid-19) pandemic	06 April 2020
South African Reserve Bank (SARB): Prudential Authority	Banking	G4/2020: Dividends and bonus payments in response to Covid19	06 April 2020
Basel Committee on Banking Supervision (BCBS)	Banking	Measures to reflect the impact of Covid-19	03 April 2020
Council for Medical Schemes (CMS)	Medical schemes	Circular 27 of 2020: Extension to the Annual Statutory Return submissions for 31 December 2020	02 April 2020
Financial Sector Conduct Authority (FSCA)	Insurance	Expectations on insurers and financial services providers in respect of premium collection of funeral policies during COVID-19 crisis	02 April 2020
Financial Sector Conduct Authority (FSCA)	Various industries	Expectations of the FSCA on regulated entities during the COVID-19 crisis	31 March 2020
South African Reserve Bank (SARB): Prudential Authority	Banking	Revision of the minimum LCR requirement due to COVID-19	31 March 2020
Financial Sector Conduct Authority (FSCA)	Retirement funds	FSCA issues guidance note to retirement funds industry to respond to COVID-19 risk	27 March 2020
Bank of England: Prudential Authority Regulation	Banking	IFRS 9 capital requirements and loan covenants (UK Comparison)	26 March 2020
Council for Medical Schemes (CMS)	Medical schemes	COVID-19 lockdown measures	26 March 2020
European Banking Authority (EBA)	Banking	Application of the prudential framework regarding Default, Forbearance and IFRS9 in light of COVID-19 measures (Europe comparison)	26 March 2020
Financial Sector Conduct Authority (FSCA)	Retirement funds	Covid-19: Section 13A of the Pension Funds Act, 1956 and Financially Distressed Employers and Employees – Submission of Urgent Rule Amendments	26 March 2020
South African Reserve Bank (SARB): Prudential Authority	Banking	Matters relating to the application of IFRS 9 in response to the Coronavirus pandemic (Covid-19)	26 March 2020
PwC US	Banking	Considerations for banking and capital markets industry (US)	25 March 2020
Financial Sector Conduct Authority (FSCA)	Various industries	Impact of COVID-19 on compliance with various regulatory requirements	24 March 2020
Financial Sector Conduct Authority (FSCA)	Various industries	Extension of submission dates for Retail Distribution Review Discussion Documents	23 March 2020
Council for Medical Schemes (CMS)	Medical schemes	COVID-19 update	19 March 2020
Deloitte UK	Insurance	Potential implications for the insurance sector (UK)	18 March 2020
Deloitte UK	Investment management	Potential implications for the investment management sector (UK)	17 March 2020
Deloitte UK	Banking	Potential implications for the banking and capital markets sector (UK)	16 March 2020
Council for Medical Schemes (CMS)	Medical schemes	Medical schemes and the coronavirus	05 March 2020
International Valuation Standards Council (IVSC)	Valuations	Latest insights, research and guidance for the in relation to the Covid-19 pandemic