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FSCA appoint the new Divisional Executive for Conduct of Business Supervision

Published

2019

Fri

28

Jun

FSCA commissioner, Mr Abel Sithole has appointed Ms. Kedibone Dikokwe as the Divisional Executive: Conduct of Business Supervision, effective from 1 July 2019. This is the division that supervises the way financial institutions interact with their customers.  In this role Ms. Dikokwe will oversee the implementation of the FSCA's supervisory program of financial products and service providers operating in South Africa, ensuring that they comply with the laws and standards addressing fair treatment of customers.

With nearly twenty years of regulatory experience, most of which were spent supervising collective investment schemes, Ms. Dikokwe brings vast knowledge and expertise in various aspects of financial regulation, including that of hedge funds, which came into effect in April 2015. Within the FSCA, she has been part of the Licensing and Conduct of Business working groups that re-engineered business processes to fit the Authority’s extended mandate. Ms. Dikokwe also sits on the Committee of Insurance, Securities and Non-banking Authorities (CISNA), a committee of financial regulators in Southern Africa.

 
Source: FSCA
 
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Funds Withheld:

The situation in which a ceding company retains a deposit of the premium due to reinsurer’s. It withholds a portion of the premiums due as a guarantee that a reinsurer will meet its loss and other obligations. Also referred to as deposits retained. Funds withheld is one way of putting the security in place for foreign reinsurance to be regarded as approved reinsurance under both of the Insurance Acts.
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