Close corporation liability: participation in gross abuse, not mere membership, is key
The Supreme Court of Appeal confirms that a member’s ownership stake alone does not trigger personal liability for a close corporation’s debts.
Author: Mark Bechard
FSCA can serve penalty notices electronically on foreign respondents
As a result of the declarator, the High Court ordered the Tribunal to revisit its decision regarding the R50m fine imposed on Viceroy Research.
Government opposes taking full ownership of the Reserve Bank
Treasury cautions that the forced acquisition of two million private SARB shares could breach bilateral treaties and unsettle investor confidence.
Non-life complaints resolved in favour of policyholders at 16.5%
Lead Ombud Edite Teixeira-Mckinon warns against drawing hasty conclusions about complaints stats without factoring in claims volumes and policy counts.
CMS will issue a new circular on appointment of healthcare brokers
A significant ruling by the Appeal Board rendered the processes outlined in the circulars published in 2022 invalid.
FICA compliance: FSP turns a R500k sanction into a learning curve
The owner of MIKA Finansiële Dienste shares four key takeaways after successfully remediating the deficiencies in its RMCP.
FAIS Ombud finds broker negligent for failing to update client’s contact details
The material change from a co-policyholder to a sole policyholder should have alerted the FSP of the need to review the policy.
RAF loses another medical scheme member liability case
The High Court, endorsing the minority judgment’s view, rules the Fund must pay the medical expenses covered by Discovery Health.
Beefed-up SARS might stave off R20bn in tax increases in 2026
An inflation-linked rise in the general fuel levy will in no way be sufficient to plug the revenue hole left by scrapping the two VAT increases.
Medical expenses | Court grants leave to appeal in member’s dispute with RAF
The outcome of Discovery Health’s appeal before the SCA will affect the outcome of the member’s claim for R1.4 million.
Bundled credit insurance ruled unlawful for consumers who can’t claim
Selling credit life insurance with retrenchment and disability cover to pensioners and disabled persons – who cannot meet the claim requirements – breaches the National Credit Act.
Retirement fund cannot withhold benefits without precise liability admission
The Tribunal says the Adjudicator should have addressed the fund’s reliance on two acknowledgements of debt stating different amounts.
Remote signing recording secures claim against company’s sureties
The recording’s admissibility under RICA and common-law principles were key to overcoming allegations of forgery and invalid electronic execution.
Moonstone is positioned to provide guidance amid COFI uncertainty
Moonstone’s innovative approach to compliance, rooted in deep expertise and tailored guidance, is poised to help financial institutions not only comply but also thrive.
Moonstone Information Refinery marks 25 years of innovation and expertise
Celebrating a quarter-century of innovation, Moonstone Information Refinery has transformed from a niche newsletter into a multifaceted provider of business solutions.
Court orders RAF to pay medical scheme members’ claims
Another attempt by the Road Accident Fund to contest liability based on the ‘majority decision’ against Discovery Health has fallen through.
High Court upholds surety deed despite electronic signature hurdles
The decision in favour of Momentum Metropolitan Life affirms the importance of substance over form in electronic surety agreements.
