A failure to adhere to the basic procedures set out in the FAIS Act resulted in the Financial Services Tribunal (FST) instructing an FSP to have another go at debarring a representative who […]
A Toyota Land Cruiser valued at more than R1.2 million found its way into the hands of the general of a rebel army in the Democratic Republic of the Congo (DRC) after a […]
The majority of South Africans who used the services of an independent financial adviser (IFA) have told a survey that they were either “satisfied” or “very satisfied” with the advice they received. This […]
Another property syndication determination has been sent back to the FAIS Ombud, with the Financial Services Tribunal (FST) stating that the ombud had, among other things, not dealt fairly with the evidence of […]
Personal income tax (PIT), value-added tax (VAT) and corporate income tax (CIT) would have to increase by just under 5% to raise R50 billion, or by slightly more than 9% to raise R100bn, […]
The Financial Services Tribunal (FST) has set aside the debarment of a bank employee, saying the possibility or suspicion of the transgression was not a sufficient reason for him to be debarred. The […]
The Financial Services Tribunal (FST) has set aside a determination by the Pension Funds Adjudicator after finding that her office did not serve the complaint on all the affected parties, thereby denying them […]
The Financial Services Tribunal (FST) has sent yet another determination related to an investment in Sharemax back to the FAIS Ombud for reconsideration, with the tribunal saying the ombud needed to apply the […]
The High Court in Pretoria has rejected a purchaser’s defence that the lockdown made it impossible for him to adhere to his vehicle finance agreement, finding that his inability to pay was due […]
According to a graph in this year’s Old Mutual Savings & Investment Monitor (OMSIM), 72% of respondents expect their financial prospects to improve over the next six months, whereas only 5% believe they […]
The Financial Services Tribunal (FST) has dismissed an application by an umbrella fund member who was aggrieved by the FSCA’s decision to exempt the fund from the full liquidation requirements in the Pension […]
The Financial Services Tribunal (FST) has sharply rebuked the FAIS Ombud for the way in which she arrived at a Sharemax determination, saying the ombud not only failed to interrogate the FSP’s version, […]
Akani Retirement Fund Administrators says it intends to take legal action following what it called the FSCA’s “unlawful” search and seizure operation at its premises. It said this action would include applying to […]
In its response to the High Court’s decision in the Living Hands matter, Old Mutual said it was concerned about the precedent that the judgment sets “for the rest of the financial services […]
The High Court in Pretoria has upheld a Regional Court order that King Price must pay a claimant the amount he owed the bank for his vehicle, which was written off after an […]
Old Mutual says it will file an application to appeal against the judgment by the South Gauteng High Court ordering Old Mutual Unit Trust Managers (Omut) to pay more than R1.7 billion in […]
The authorities will roll out a number of measures in the coming months to regulate crypto assets and boost the legitimise use of the technology, Kuben Naidoo, deputy governor of the South African […]
