The FAIS Ombud, Advocate Nonku Tshombe, says it is impossible to blame the collapse of the Sharemax property syndications on the intervention of the South African Reserve Bank (Sarb) unless “pertinent questions” about […]
The Council for Medical Schemes (CMS) was engaged in discussions with seven schemes to consider options for members of Health Squared, which intends to apply for voluntary liquidation on 1 September. In a […]
EFF MP Floyd Shivambu lambasted South African Reserve Bank (Sarb) Governor Lesetja Kganyago for not responding to a letter asking the central bank to confirm or deny whether President Cyril Ramaphosa had disclosed […]
The eJoburg Retirement Fund has been ordered to revise a death benefit allocation after the High Court found the deceased’s alleged customary marriage was unlawful and the fund’s justification for allocating 15% of […]
Nova Propgrow Group Holdings Limited says the compliance notice issued by the Companies and Intellectual Property Commission (CIPC) prohibiting Nova from disposing of its immovable properties is flawed, and its legal team is […]
Only areas of business where there was no risk of money laundering could be excluded from the ambit of the Financial Intelligence Centre Act (Fica), whereas even low-risk businesses should be accountable institutions, […]
Outsurance Life has proposed that long-term insurers that provide risk products should be excluded as accountable institutions, saying the increased cost of compliance was not proportionate to the low risk these products posed […]
National Treasury’s acting director-general, Ismail Momoniat, says mechanisms need to be put in place to ensure that the regulators are doing their job in respect of suspicious financial transactions, noting that Treasury does […]
It shouldn’t come as a surprise that the Momentum-Unisa Consumer Financial Vulnerability Index (CFVI) shows that consumers were financially worse off in the second quarter compared with the first three months of this […]
The Council for Medical Schemes (CMS) has recommended that contribution increases for 2023 should be limited to 5.7%, in line with the South African Reserve Bank’s projected average inflation rate for next year. […]
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 […]
