Regulatory Alerts2022-09-27
FSCA Discussion Paper on Framework for Unclaimed Assets in South Africa
The Financial Sector Conduct Authority (FSCA) has published a Discussion Paper proposing thirteen recommendations to establish a unified framework for managing and reunifying unclaimed financial assets in South Africa. The proposed framework standardizes definitions and supervisory reporting across financial segments, clarifies institutional responsibilities for record-keeping and tracing, and outlines permissible uses for long-unclaimed funds. Stakeholders are invited to submit written comments using the official template by 30 November 2022.
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