Regulatory Compliance

Changes to the National Credit Act

The National Credit Act Amendment Bill has been approved and is likely to be signed into law by the President by the time this seminar occurs.  

The purpose of this half-day seminar is to highlight the changes to the National Credit Act, including:  

Edcon found guilty of unlawful charges

The National Consumer Tribunal has released a finding which - essentially - finds that Edcon has been unlawfully charging its customers a fee to belong to its club. This finding is very significant for Edcon who faces the possibility of having to refund customers to the tune of several billion Rand (yes that is 'billion') and the National Credit Regulator is currently looking for Edcon to undergo an indpendent audit to find out exactly how much money Edcon will have to repay to its customers. 

Consent - why it isn't always necessary

A recent article in the attorneys magazine De Rebus argued that consent to process personal information was always required. In this letter to De Rebus Paul Esselaar argues that consent is not always a required and - in some cases - it may be a bad idea to ask for it. Click here for the letter in the April 2015 De Rebus magazine.

Draft NCA Regulations on Affordability Assessments published

The Department of Trade and Industry has published draft regulations on, "Affordability Assessment for the Amendment of
Regulations for matters relating to the functions of the National Consumer Tribunal and Rules for the Conduct of
matters before the National Consumer Tribunal".

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