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The Financial Sector Laws Amendment Act: A new dawn for South Africa's Bank Resolution Regime – A look at what you need to know about the recently published prudential standards | White & Case LLP

In January 2022, the President assented to the Financial Sector Laws Amendment Act, 2021 (the "FSLAA"), which adds a new Chapter 12A (Resolution of Designated Institutions) (the "Bank. ....

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Draft Prudential Standard – Transfers of assets and liabilities of designated institutions in resolution | White & Case LLP

The Prudential Authority (the "PA") published, for public comment, the Prudential Standard on the transfer of assets and liabilities of designated institutions in resolution (the. ....

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Financial Services Regulation

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Ombud service 'has power to address any discrimination in banking and put it right'

The banking sector has since the start of the pandemic been accused of discrimination, seeing the collapse of several black businesses, but the Banking Ombudsman Services of SA (OBS SA) has argued that if banks are found guilty of any misconduct, including discrimination, then the âOBS has the power to put things rightâ. Photo: REUTERS/Mike Hutchings
Ombud service âhas power to address any discrimination in banking and put it rightâ
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CAPE TOWN - AS BLACK-OWNED businesses continue their struggle to secure financial assistance from banks, while others endure the abrupt termination of their bank accounts without valid reasons, the banking ombudsman stressed that they are there as a last resort and as a form of recourse to investigate any possibility of unfair treatment. ....

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