POPIA for Financial Services

Figures current at 29 September 2026. Source: TradeAnswers.

What POPIA requires
ConditionMeaning
AccountabilityThe responsible party must comply, not just intend to
Processing limitationCollect only what is necessary, with a lawful basis
Purpose specificationCollect for a stated purpose
Further processing limitationDo not reuse it for something unrelated
Information qualityKeep it accurate and current
OpennessTell the person what you hold and why
Security safeguardsProtect it, and report breaches
Data subject participationLet the person see and correct it
Your rights
RightHow to use it
Be told what is heldRequest access from the information officer
Correct or deleteRequest correction of inaccurate data
Object to processingWhere the basis is legitimate interest
Opt out of direct marketingAt any time, free of charge
ComplainTo the Information Regulator
CompensationThrough a civil claim
Where FICA and POPIA meet
SituationWhich applies
A broker must keep your ID for five yearsFICA requires it, POPIA permits it
A broker wants to market to youPOPIA, consent required
You ask for your data to be deletedFICA retention overrides during the period
A breach exposes client recordsPOPIA, report to the Regulator and the people affected
Sharing data with a group company abroadPOPIA, cross-border transfer rules apply

Data maintained by TradeAnswers · updated as the figures change