National Treasury will introduce the COFI Bill ‘very soon’ and amend the Financial Markets Act to tighten regulation of the country’s financial markets.
COMPLY WITH DIRECTIVE 7 BY FRIDAY OR FACE THE CONSEQUENCES, SAYS FIC
Accountable institutions that ignore Directive 7 and fail to submit a risk and compliance return (RCR) by Friday face being sanctioned by the Financial Intelligence Centre (FIC).Read more
The finance committee’s decision seems, in part, to be based on the assumption that some fund administrators will be ready to ‘go live’ on 1 March next year.
The National Assembly’s Standing Committee on Finance met on Tuesday morning to deliberate clause-by-clause on the two-pot legislation.
The SCA finds the policyholder failed to produce evidence to support his pleaded claim for damages based on the vehicle’s market value.
The Financial Services Tribunal hears the reconsideration applications brought by three of the 15 implicated agents.
More than a year passed between the employer indicating that it reserved its right to withhold a former employee’s withdrawal benefit and instituting civil proceedings against him.
Delaying the implementation date and raising the seeding cap are among the announcements and clarifications.
The reinsurance market will remain hard for the foreseeable future, and most reinsurers believe another July 2021 is just around the corner, says chief executive.
SCA rules on the dispute between KGA Life and Multisure that arose after the cancellation of the intermediary agreement.
The FSCA and the FAIS Ombud have announced their proposed levy and fee increases for 2024/25.
Retirement industry bodies plead for a later implementation date, but Cosatu says 1 March next year is a ‘red line’.
Organisations representing the retirement industry call attention to the ‘problematic’ provisions in the draft legislation for the two-pot retirement system.
There is a view that the High Court’s judgment means the in duplum rule does not apply to section 13A(7) interest.
The fact that the applicant did not sell any products or receive remuneration did not nullify his status as a representative.
Standard Bank debarred a branch team leader for using her own money to activate four accounts without the customers’ consent.
The member’s benefit was transferred from the money market investment into the fund’s business account.