‘Unacceptable’ delay in prosecuting hedge fund manager, judge says
Evercrest Capital collapsed 16 years ago after it incurred a huge loss trying to short Sanlam’s shares.
Author: Mark Bechard
Significant Santam legal victory in dispute over vehicle storage costs
The insurer was entitled to provide security for the disputed balance of the storage costs to have the motor vehicle released and stop incurring further charges.
Tribunal rejects debarred FNB representative’s ‘prevailing practice’ defence
No evidence that staff were instructed to verify prospective clients’ addresses using blank letters provided by the municipality, FST finds.
Why the FAIS Ombud is closing its files on property syndication complaints
Adjudication of the complaints requires hearings, which are more conducive to a court of law, the Ombud says.
Sars publishes final provisions for diesel refund for food manufacturers
The most notable are changes to the definition of ‘foodstuffs’, as well as the requirements for applying for registration and claiming refunds.
Confidence in the economy at an 8-year low, Old Mutual research finds
Latest Savings & Investment Monitor contains insights into South Africans’ appetite for investment risk and investing offshore.
Bonitas gains members and bucks buying-down trend in 2022
With reserves reaching R8.8 billion, can members expect that very low contribution increases will automatically follow?
Employer liable for fund member’s reduced withdrawal benefit, says tribunal
FST does not accept submission that the impact of Covid on the markets absolved the employer of liability for the loss.
FST upholds debarment of rep who committed fraud to buy food for her child
The former bank manager’s actions were driven by desperation, but the FAIS Act is not forgiving, the tribunal says.
GEPF and other public sector funds ‘will be part of the two-pot system’
How accessibility and seeding will impact members of defined-benefit retirement funds.
Two pots: fund members must understand the implications of withdrawals
Money in the savings pot should be withdrawn only as a last resort, for absolute financial emergencies.
Preservation should be the top priority in the messaging about two pots
Administrators are concerned there is not enough time for financial advisers and members to understand the implications of the changes.
High Court orders Hollard to top-up heart attack benefit pay-out by R1.7m
The payment percentages should apply individually to each event within the policy’s benefit groups, judge finds.
Why NHI will restrict freedom of choice when it comes to private health care
Health department deputy director-general says NHI could function as efficiently as Sars or the Airports Company.
‘Road Accident Fund is in ICU with one foot in the grave,’ says Scopa chairperson
Ministry of Transport instructed to appoint a new board after Members of Parliament witness ‘a national disaster’ at the fund’s offices.
Vagaries surrounding NHI benefits may provide grounds for a constitutional challenge
The lack of clarity over the benefits package means one cannot determine whether the state is fulfilling its obligation to provide access to health care.
‘Win’ for health department in battle over NHI-linked Certificate of Need
The High Court will have to revisit the constitutionality of certificates that determine where doctors can work.
