High Court orders insurer to reconsider unfair debarment carried out in 2016

The applicant only became aware in May last year that the decision to debar her constituted administrative action.

High Court orders unlicensed brokerage to repay client €600 000 plus interest

Ruling provides clarity on the licensing requirements for local agents of foreign providers.

Court confirms order for reinstatement of insurance salesman fired for gross insubordination

He was alleged to have disrespected the CEO during a staff meeting called to address the team’s underperformance.

FAIS Ombud told to reconsider decision in case involving ambiguous policy wording

Insurer argues that ‘days’ means ‘normal days’, but the Financial Services Tribunal does not agree.

FSCA ends its 2021/22 financial year with a net deficit

The FSCA ended its 2022 financial year with a deficit of more than R4.9 million, after recording a surplus of over more than R30m in 2021, its latest annual report shows. The Authority […]

Decline in number of authorised FSPs

The number of authorised FSPs declined by 1.12% between 2021 and 2022, despite the FSCA approving more FSPs this year, the Authority’s annual report for the year to the end of March shows. […]

Finance committee chairperson takes aim at Intellidex report ‘canvassing’ for SA to be grey-listed

The chairperson of the National Assembly’s Standing Committee on Finance (Scof) this week sharply criticised “a section” of the business community for publishing a report suggesting there is an 85% probability that South […]

Amendments could result in companies moving their primary listing, says JSE

The proposed “beneficial owner” disclosure and reporting requirements for listed companies could result in companies moving their primary listing from South Africa to other jurisdictions, the JSE has told the National Assembly’s Standing […]

New deadline to comment on anti-grey-listing bill

The National Assembly’s Standing Committee on Finance (Scof) has extended to 25 October the deadline for submitting comments on the omnibus bill aimed at preventing South Africa’s grey-listing next year. On Tuesday, the […]

Time is against South Africa to avoid grey-listing

If South Africa does escape being grey-listed next year, it will be by the skin of our teeth. Time is not on the country’s side when one considers the work that must be […]

Beneficial ownership information must be available to the public, says Cosatu

The Congress of South African Trade Unions (Cosatu) has called for information about the beneficial ownership of companies to be made publicly available. Cosatu and one of its affiliates, the Southern African Clothing […]

Non-profit organisations caught between a rock and a hard place

The Department of Social Security is not equipped to deal with the registration of every non-profit organisation (NPO) in the country, while the failure of NPOs to register will have dire consequences for […]

FAIS Ombud revises compensation order after tribunal asks her to reconsider determination

The determination did not sufficiently address an adviser’s submissions on the extent of the complainant’s losses.

Standard Bank’s debarment stands despite ‘missing’ debarment policy

Financial Services Tribunal sets out why the policy’s absence from the record is not fatal to a procedurally fair process.

Why SCA rejected Zurich Insurance’s prescription defence in case over claim for damage to Gautrain tunnels

The Supreme Court of Appeal (SCA) has upheld the Gauteng provincial government’s claim against Zurich Insurance for the cost of repairing damage caused during the construction of tunnels for the Gautrain. The High […]

Clothing retailers, Treasury deadlocked over making all credit providers accountable institutions

As attention shifts to Parliament’s processing of the omnibus “anti-grey-listing bill”, the equally important amendments to the schedules to the Financial Intelligence Centre Act (Fica) have probably slipped from public view. However, the […]

Research reveals black consumers’ attitudes towards investing and financial advice

Inflation-beating returns is the primary objective, with socially responsible investing a low priority.