EDITORIAL: New financial conduct law is urgently needed
The Conduct of Financial Institutions Bill will, among many other things, regulate the behaviour of financial advisers and intermediaries
01 October 2020 - 05:00
Nearly two years separate the first and second drafts of a crucial bill that will entrench the rights of financial consumers in law. The Conduct of Financial Institutions Bill cannot come soon enough and is expected to be tabled in parliament early in 2021.
The bill will entrench into law the requirement for financial institutions to treat their customers fairly, an issue that came starkly to the fore recently with the refusal by short-term insurers to pay business interruption claims in the tourism and hospitality sectors arising from the Covid-19 lockdown...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.