Regulatory Alerts2026-05-08
Added · Updated
Grandfathering of Subordinate Legislation
The regulator has designated existing subordinate legislation, institutional rules, and directives for grandfathering under the Financial Institutions Act (FIM Act) to ensure continuity following legislative repeal. This preservation measure maintains the validity of key regulations governing short-term and long-term insurance, medical aid funds, retirement funds, financial markets, and unit trusts until they are superseded by new FIM Act measures. Financial institutions must review and amend or replace their existing rules within six months of the effective date to guarantee full compliance with the updated statutory framework.