Funds must fully verify dependency before allocating a death benefit
The Constitutional Court finds that a fund relied on unverified, one-sided information and failed to establish the extent of factual dependency.
Author: Mark Bechard
Tribunal dismisses N-e-FG executives’ ‘restorative justice offer’
In exchange for their admissions, they sought to substitute their debarments with an undertaking to repay R470m in client losses.
Advisers ‘could charge more’ for the value they deliver
International comparisons suggest there’s scope for local advisers to lift fees above 0.5% of AUM, says Mark Polson of UK consultancy The Lang Cat.
New Sygnia fund offers crypto exposure in a life insurance structure
The Life Bitcoin Plus Fund uses a ‘portable alpha’ strategy to generate returns beyond the performance of the iShares Bitcoin Trust ETF.
Close corporation liability: participation in gross abuse, not mere membership, is key
The Supreme Court of Appeal confirms that a member’s ownership stake alone does not trigger personal liability for a close corporation’s debts.
FSCA can serve penalty notices electronically on foreign respondents
As a result of the declarator, the High Court ordered the Tribunal to revisit its decision regarding the R50m fine imposed on Viceroy Research.
Government opposes taking full ownership of the Reserve Bank
Treasury cautions that the forced acquisition of two million private SARB shares could breach bilateral treaties and unsettle investor confidence.
Non-life complaints resolved in favour of policyholders at 16.5%
Lead Ombud Edite Teixeira-Mckinon warns against drawing hasty conclusions about complaints stats without factoring in claims volumes and policy counts.
CMS will issue a new circular on appointment of healthcare brokers
A significant ruling by the Appeal Board rendered the processes outlined in the circulars published in 2022 invalid.
FICA compliance: FSP turns a R500k sanction into a learning curve
The owner of MIKA Finansiële Dienste shares four key takeaways after successfully remediating the deficiencies in its RMCP.
FAIS Ombud finds broker negligent for failing to update client’s contact details
The material change from a co-policyholder to a sole policyholder should have alerted the FSP of the need to review the policy.
RAF loses another medical scheme member liability case
The High Court, endorsing the minority judgment’s view, rules the Fund must pay the medical expenses covered by Discovery Health.
Beefed-up SARS might stave off R20bn in tax increases in 2026
An inflation-linked rise in the general fuel levy will in no way be sufficient to plug the revenue hole left by scrapping the two VAT increases.
Medical expenses | Court grants leave to appeal in member’s dispute with RAF
The outcome of Discovery Health’s appeal before the SCA will affect the outcome of the member’s claim for R1.4 million.
Bundled credit insurance ruled unlawful for consumers who can’t claim
Selling credit life insurance with retrenchment and disability cover to pensioners and disabled persons – who cannot meet the claim requirements – breaches the National Credit Act.
Retirement fund cannot withhold benefits without precise liability admission
The Tribunal says the Adjudicator should have addressed the fund’s reliance on two acknowledgements of debt stating different amounts.
Remote signing recording secures claim against company’s sureties
The recording’s admissibility under RICA and common-law principles were key to overcoming allegations of forgery and invalid electronic execution.
