Referral fees and FAIS: when a lead becomes intermediation
The High Court’s decision shows how commission-style lead arrangements can be characterised as FAIS intermediary services, with enforceability consequences.
Author: Mark Bechard
Tax Court clarifies VAT treatment of cashback and fee rebates
The Court finds that cashback credits reduced the original fee, rather than constituting payment for a separate supply by customers.
glu declares first member profit share after launch year
The R1.78m payout reflects both underlying performance and a founding-member booster designed to accelerate early value.
Manager Watch: Strong year, weaker long-term outlook
Alexforbes’ latest survey shows robust 2025 performance but highlights weaker 10-year returns and rising dispersion in equity returns.
FIC cannot rely on pre-2022 non-compliance in attorney sanctions, High Court finds
Penalties cannot be based on periods before the FIC assumed supervisory authority, and remediation must be fully considered when imposing sanctions.
MPs query FSCA processes in insurance exemption dispute
The Authority says the case highlights the need for a legislative framework that is more conducive to fostering transformation and incubation models.
FSCA signals delay to Omni pilot as rollout reaches ‘inflection point’
Officials outline key supervisory areas affecting financial institutions, with a focus on governance, AML controls, cyber resilience, and consumer-facing risks.
FSCA examining finfluencers’ impact on consumer decisions
The Authority is studying the influence of financial content on social media, while advancing industry co-ordination as online fraud losses rise.
Phased COFI implementation requires early impact mapping, FSCA says
The Authority urges financial firms to assess the likely impact of the COFI framework across governance, licensing, product design, and data.
Regulation must adapt to a more complex financial system, says Kamlana
Unathi Kamlana says regulation must evolve with a more complex, technology-driven financial sector, with greater focus on accountability and customer outcomes.
Excess retirement contributions: when they help – and when they hurt
Converting discretionary savings into retirement vehicles can cut tax on living annuity drawdowns – but may reduce long-term value.
Six key themes from the FSCA’s FICA compliance inspections
Moonstone Compliance’s analysis identifies recurring shortcomings that FSPs should fix to avoid enforcement action.
Full Bench adds weight to challenges against RAF medical expense directives
Internal directives cannot displace court orders or long-standing principles governing compensation, says the Western Cape High Court.
