Law Society calls for safeguards as AML Bill expands regulatory powers
Its submission to Parliament highlights concerns about lifestyle audits, information sharing, beneficial ownership, and administrative fines.
Author: Mark Bechard
After the headlines: where major FSCA enforcement cases stand
Steinhoff, Banxso, N-e-FG, and Viceroy show that imposing an administrative penalty is often only the beginning of a lengthy legal and recovery process.
CAM opens Citadel’s investment engine to independent advisers
IFAs can delegate functions including asset allocation, manager research, and portfolio construction while retaining responsibility for advice and client relationships.
Don’t let COFI ‘scare stories’ distract you from what’s really changing
‘Continuous disclosure’ offers a practical way to understand the framework’s broader shift towards customer outcomes, says Moonstone’s Billy Seyffert.
Law firm calls for banks to reimburse fraud victims
Trudie Broekmann Attorneys says South Africa should adopt a mandatory reimbursement framework that goes beyond the UK’s protections for payment scams.
High Court upholds medical schemes’ recovery powers
The ruling preserves a key anti-fraud tool that industry bodies say protects member funds and helps contain healthcare costs.
Latest FATF review puts South Africa under a harsher spotlight
Treasury says the country already has most of the rules it needs; the challenge now is proving that institutions are using them effectively.
Judgment adds to uncertainty over crypto’s exchange control status
The High Court backs the SARB’s position that moving Bitcoin to foreign exchanges can amount to an unlawful export of capital.
OneSure uses AI to tackle operational complexity across insurers
The brokerage says InsureBot assists with policy interpretation and comparisons, while accountability stays with authorised staff.
AI in financial advice: where investors draw the line
Morningstar’s behavioural study shows reactions hinge on the use case and on how advisers explain, govern, and remain accountable for AI-assisted work.
Referral fees and FAIS: when a lead becomes intermediation
The High Court’s decision shows how commission-style lead arrangements can be characterised as FAIS intermediary services, with enforceability consequences.
Tax Court clarifies VAT treatment of cashback and fee rebates
The Court finds that cashback credits reduced the original fee, rather than constituting payment for a separate supply by customers.
glu declares first member profit share after launch year
The R1.78m payout reflects both underlying performance and a founding-member booster designed to accelerate early value.
Manager Watch: Strong year, weaker long-term outlook
Alexforbes’ latest survey shows robust 2025 performance but highlights weaker 10-year returns and rising dispersion in equity returns.
FIC cannot rely on pre-2022 non-compliance in attorney sanctions, High Court finds
Penalties cannot be based on periods before the FIC assumed supervisory authority, and remediation must be fully considered when imposing sanctions.
MPs query FSCA processes in insurance exemption dispute
The Authority says the case highlights the need for a legislative framework that is more conducive to fostering transformation and incubation models.
FSCA signals delay to Omni pilot as rollout reaches ‘inflection point’
Officials outline key supervisory areas affecting financial institutions, with a focus on governance, AML controls, cyber resilience, and consumer-facing risks.
