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) 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