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POPIA Data Protection Privacy
What is the principal purpose of the Protection of Personal Information Act (POPIA)?
RE5 practice question with a worked answer. This is one of hundreds of FSCA RE5 questions in the RegulatoryExams question bank.
- a) To regulate how responsible parties lawfully process personal information and to protect data subjects from harm.Correct
- b) To prevent organised crime and the laundering of criminal proceeds.
- c) To ensure that all financial advice given to clients is suitable.
- d) To supervise the prudential soundness of banks and insurers.
Why this is the answer
POPIA is South Africa's data-protection law: it governs lawful processing (collection, use, storage and destruction) of personal information and protects data subjects. AML is the FIC Act, advice suitability is FAIS/the Code, and prudential soundness is the Prudential Authority's mandate.
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