APRIL 2017
Dear Member,

Please take note of new legislations and changes to existing legislations

While we are under no illusion about the economic challenges that lay ahead for our country and our industry, let us not lose sight of some current, important changes in legislation. 

The latest news on the POPI (Protection on Personal Information) Act is that an Information Regulator has been appointed and the Act will become fully operational once the Regulator's affairs are in order. We expect this to be towards the end of 2017. Do take note of Condition 7 of POPI, which requires that all personal information should be kept secure against the risk of loss, unauthorised access, modification, destruction or disclosure.

Other important changes in legislation to take note of:
  • Binders – new and more stringent regulations on binders to be implemented.
  • Representatives will be disallowed to work on two licences.
  • Financial Sector Regulation Bill – This Bill provides the framework for the implementation of the Twin Peaks model, currently going through the Parliamentary phases.
  • Amendments to FAIS “Fit and Proper” codes of conduct.
  • The implementation of Phase 1 of the Retail Distribution Review.
  • The replacement of the current FAIS reporting with the Conduct of Business Report.
  • FICA – Motor Dealers becoming Accountable institutions.
  • Right to Repair – The probe into SA car workshop industry.

These are only but a few challenges that we need to tackle as an industry, but be assured, we have your interests at heart. The IDA will support you, our Dealer Member, as best we can and will be providing training and other relevant support to help ensure that you remain compliant. 

We will keep you informed of developments as they happen so that you can stay focused on your business and do what you do best – buy and sell cars.

All the best, until next time,

Robbie Starke
General Manager: IDA

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