In REBOSA Reports

Dear Colleagues

Rebosa has always been of the opinion that agents returning to the industry and who did not deregister with the PPRA should not be charged penalties during their period of absence.  We have always believed these penalties are illegal and have been pursuing the matter for years.  We issued the PPRA with our legal opinions and have had considerable engagements with their Board and Executive.

We are pleased to announce that the PPRA decided to cease the imposition of such penalties, if the practitioner was not at any time during the non-renewal of the FFC, operating within the regulated sector.  This policy change is effective from 20 June 2024.

We commend the Chairman, Dr Steven Ngunbeni and CEO, Ms Thato Ramaili for arriving at this decision.

It is also testament to how open channels of communication and industry consultation can deliver effective results.

Read the communique from the PPRA below:

https://theppra.org.za/article/important_update_regarding_fidelity_fund_certificate_renewal_and_historical_penalties

Kind regards
Jan

Facebooktwitterlinkedinmail
Contact Us

We're not around right now. But you can send us an email and we'll get back to you, asap.

Start typing and press Enter to search

Share This