Old Mutual Life Assurance faced sanctions and penalties for non-compliance with FIC regulations, impacting its reputation and investor confidence.

The FSC’s latest Guidance Notes set out a comprehensive framework to ensure AI is used ethically and responsibly across Mauritius’ financial sector. The principles emphasise governance, fairness, transparency, and security—aiming to unlock AI’s benefits while protecting consumers and strengthening institutional trust.

The FCA has expressly acknowledged the overlap between the FCA’s existing MiFID II-derived rules on the manufacture of investment products in its Product Intervention and Product Governance Sourcebook (PROD) and the new Consumer Duty provisions on manufacturer product governance arrangements.

South Africa has officially exited the FATF grey list after more than two years of rigorous regulatory reform. Following the completion of all 22 action items in the FATF Action Plan, the country has strengthened its AML/CTF framework, improved transparency in corporate ownership, and enhanced enforcement capacity — boosting global confidence in South Africa’s financial system.

South Africa has pushed back the implementation timeline for GloBE (Pillar II) compliance, with SARS announcing that the GloBE registration and notification system will only go live on 16 March 2026. While filing deadlines have been extended for certain MNE groups, key legal provisions of the Global Minimum Tax remain fully in effect, placing renewed focus on internal readiness.