The Financial Services Tribunal (FST) has upheld Discovery Life’s decision to debar a financial adviser who advised clients to invest in Ecsponent preference shares although he was not authorised or licensed to advise […]
The FSCA has confirmed that the provision for a pro rata reduction in CPD hours as a result of parental leave, or because of illness or disability, applies only to an FSP’s representatives, […]
Discovery Life paid claims to the value of R11.79 billion last year, of which R9.1bn was for more than 10 000 individual life claims – an 89% increase in the value of individual […]
Between 2008 and 2010, a pensioner couple invested in two Sharemax property syndications. They complained to the FAIS Ombud in 2011 after losing their money. Seven years later, the FAIS Ombud issued a […]
The Financial Services Tribunal (FST) has dismissed a reconsideration application by a couple who wanted to be provided with a joint-and-survivorship pension because they reconciled and lived together as if married after their […]
Videosign, the unique online meeting platform that allows for e-commissioning and the remote witnessing of signatures, is set to enter a new growth phase after winning the Innovation and Technology Award at the […]
The demand for cyber insurance is increasing, but cyber liability is the form of specialist cover brokers are least comfortable with placing, according to SHA’s 2022 Specialist Risk Review. Sizwe Cakwebe, the cyber […]
The impact of the fourth wave of Covid-19 on Momentum Metropolitan Holdings’ South African life insurance businesses eased during the nine months to the end of March. In a trading update, MMH said […]
The FSCA’s assumption that an FSP had not responded to one of its questions contributed to its decision to debar him. But a pack of documents the FSP sent the FSCA landed up […]
The South African Reserve Bank (SARB) has identified the potential of an unfavourable outcome of the Financial Action Task Force’s Mutual Evaluation of South Africa as a threat to the stability of the […]
The Financial Services Tribunal (FST) has reiterated that a retirement fund cannot withhold a benefit if only a criminal case has been instituted against a member. In fact, even if the member has […]
Momentum Metropolitan Holdings (MMH) and Sanlam are the only major life insurers in South Africa to have grown the value of their new business relative to pre-Covid levels, according to PwC. PwC based […]
As we reported last week, National Treasury has revised some of the levies that FSPs will have to pay to the FSCA in terms of the Financial Sector and Deposit Insurance Levies Bill. […]
The Financial Services Tribunal (FST) as upheld the FSCA’s decision to debar a life insurance representative who admitted that she submitted unauthorised policy applications but subsequently sought to qualify her admission. What is […]
The Ombudsman for Long-term Insurance (Olti) released its annual report for 2021 last week. Here are 10 key take-aways from the report: 1. R200m recovered for complainants The Olti recovered R200 689 324 […]
Poorly worded policies don’t only result in disputes over multi-million-rand commercial claims. The Ombudsman for Long-term Insurance (Olti) last year dealt with a number of complaints about rejected or limited funeral benefit claims […]
The Financial Services Tribunal (FST) has upheld a determination by the Pension Funds Adjudicator that a security guard who lost the use of his right arm following a shooting did not qualify for […]
