King Price ordered to pay claimant the amount he owed for his vehicle
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 […]
Author: Mark Bechard
Old Mutual to appeal R1.7bn judgment in favour of Living Hands
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 […]
SARB is taking a slow and steady approach to crypto regulation
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 […]
Adjudicator hits back after High Court overturns withdrawal deduction determination
A recent order by the High Court in Johannesburg does not set a precedent for an employer or a creditor to make deductions from a retirement benefit that are prohibited by the Pension […]
Was market volatility or admin problems the reason a fund member lost R340 000?
The Financial Services Tribunal (FST) has ordered the Pension Funds Adjudicator to reconsider a determination that attributed a fund member’s loss to the employer’s failure to submit his withdrawal form timeously to the […]
Retail Distribution Review proposals will be reworked in Cofi regulations
Pending regulations flowing from the Retail Distribution Review (RDR) will not be processed in their current form but will be incorporated into new regulations that will developed under the Conduct of Financial Institutions […]
Debarments: tribunal clears up ‘confusion’ about filing an application while legal proceedings are still pending
A decision by the Financial Services Tribunal (FST) last month should clear up any potential confusion over whether a reconsideration application can be brought by a representative who is still embroiled in litigation […]
National Treasury publishes final amendments to regulation 28
Retirement funds will be able to invest up to 45% of their assets in infrastructure from 3 January next year, when the amendments to regulation 28 of the Pension Funds Act take effect. […]
High Court orders Sasria to pay up for equipment lost during flooding
The High Court in Johannesburg recently ordered the South African Special Risk Insurance Association (Sasria) to settle a claim by a company that lost its equipment when a colliery was flooded during labour […]
‘Instant loans’ sign was sufficient grounds for investigation by the National Credit Regulator
A sign outside a microlender’s premises advertising “instant loans” and an employee’s verbal information that interest of 30% a month was charged on short-term loans were reasonable suspicion for the National Credit Regulator […]
How the top open medical schemes’ contribution increases compare to inflation
Bestmed, Fedhealth and Medshield have had the highest average annual contribution increases among the top open medical schemes over the past 15 years, according to Alexander Forbes Health’s 2021/22 Medical Aid Insights. Read: […]
Information Regulator unhappy with the flood of unsolicited direct marketing
The Information Regulator says it is concerned that consumers continue to be bombarded with unsolicited direct marketing messages that do not comply with the Protection of Personal Information Act (Popia), and it will […]
Advisory intermediaries urged to draw up agreements to limit their liability
The risk landscape in which FSPs are operating is becoming more complex and difficult, and advisory intermediaries should take steps to protect themselves by entering into service contracts that will limit their liability, […]
Moonstone warns of fake regulatory exam certificates
Scammers continue to defraud people by claiming they can issue certificates – for a fee, of course – for the FSCA’s regulatory exams. In September last year, we exposed individuals operating on social […]
Health department will seek to have ‘anti-NHI ruling’ set aside
The Department of Health (DoH) will seek to set aside the Pretoria High Court’s ruling that a certificate of need (CoN) is unconstitutional and invalid, saying the court’s decision has “serious implications” for […]
NHI will be phased in, says Phaahla
Health Minister Dr Joe Phaahla has once again indicated that National Health Insurance (NHI) will be phased in based on the funds available. Earlier this month, Dr Phaahla told a virtual event hosted […]
Group disability benefits: ‘adapt or die’
Without a new approach to managing risk, group income disability benefits are headed for extinction and, in the retail market, only the rich will be able to afford these benefits, says Reinier van […]
