Regulatory Affairs Board Committee

Chair: Dawie de Villiers
Deputy Chair: Iolanda Ruggerio
ASISA point person: Adri Messerschmidt

 

The primary purpose of the Regulatory Affairs Board Committee (RABC) is to focus on matters in respect of legislative, regulatory, legal and compliance issues related to the financial sector regulatory framework.

Key Focus Areas

  • Conduct of Financial Institutions Bill.
  • Taxation of regulated investment portfolios / CIS Tax Policy.
  • Retirement Reform Two-Pot System.
  • FSCA Discussion Paper:  A framework for unclaimed financial assets in South Africa.

STANDING COMMITTEES AND WORKING GROUPS: 


CIS STANDING COMMITTEE

ASISA point person: Adri Messerschmidt

The CIS Standing Committee co-ordinates regulatory matters relating to collective investment schemes.


FAIS STANDING COMMITTEE

ASISA point person: Adri Messerschmidt

The committee considers legislative and regulatory changes to the Financial Advisory and Intermediary Services Act and the implementation of the legislation.


FICA STANDING COMMITTEE

ASISA point person: Adri Messerschmidt

The committee considers legislative and regulatory regimes intended to combat money laundering and the financing of terrorism.


TAX STANDING COMMITTEE

ASISA point person: Angus McDonald

The committee considers applicable tax legislation and any amendment and practical application thereof.  

Life Office/Corporate Tax Sub-Standing Committee
The committee considers tax on life insurers and corporate tax in general.

Product/Customer Tax Sub-Standing Committee
The committee considers tax matters and related exchange control matters relevant to financial products and consumers of the products. This Sub-Standing Committee reports to the Tax Standing Committee.

Tax Compliance/Administration Sub-Standing Committee
The committee considers matters related to withholding taxes, payroll taxes and third-party reporting requirements (including FATCA Common Reporting Standards), to assist with compliance with relevant tax laws, related administration, and reporting requirements.


WORKING GROUPS

  • CIS Ballot Proposals Working Group (CIS Standing Committee)
  • Conduct of Financial Institutions Bill Working Group
  • FATCA CRS Working Group (Tax Compliance/Administration Sub-Standing Committee)
  • Pension Funds Act Benefit Projections Working Group
  • Pension Funds Act Conditions for Benefit Administrators Working Group
  • Pension Funds Act Regulation 28 Derivatives Working Group
  • Protection of Personal Information Act Working Group
  • Retirement Reform Two-Pot System Working Group
  • Tax IFRS17 Sub-Working Group (Life Office/Corporate Tax Sub-Standing Committee)
  • VAT Working Group (Life Office/Corporate Tax Sub-Standing Committee)
  • Wealth Tax Working Group (Tax Standing Committee)

ASISA Nominations Procedure