Municipality found liable for fire damage after water supply failure
The business would not have performed grinding activities if it had been forewarned about the interruption to the water supply.
Author: Mark Bechard
Cosatu wants urgent discussions with Treasury over changes to two-pot system
One of its four proposals is to allow members to transfer up to a third of their vested savings to their savings component.
Court enforces restraints of trade in dispute between wealth management firms
The judgment shows that ‘reasonable apprehension’ can tip the scales in favour of enforcing trade restraints and confidentiality agreements.
Court rules on FAIS Act exception argument in dispute over commission
The judgment clarifies aspects of the FAIS Act, particularly regarding the nature of ‘advice’ and ‘intermediary services’.
Consumers should inform themselves before they transact, says FAIS Ombud
The Office has sorted out the ‘embarrassing’ backlog of cases John Simpson inherited and has set timeframes for resolving complaints.
When does the countdown for tracing a fund member’s dependants start?
High Court hands down a decision on the interpretation of the tracing provision in section 37C of the Pension Funds Act.
Momentum’s NHI cost estimate is ‘mathematical hooliganism’, says Health Minister
Aaron Motsoaledi wants to engage with with stakeholders who are in favour of universal health coverage but have objections to the NHI Act.
Tribunal ruling underscores directors’ obligations regarding financial statements
FST upholds the JSE’s decision to fine Tongaat Hulett’s former CFO R6m and bar him from holding office as a director of a listed company for 10 years.
Bid to have RAF CEO sentenced to ‘suspended imprisonment’ for unpaid debts fails
A challenge to the RAF’s failings must consider the complex inter-governmental duties on which the social security scheme depends, judge says.
Holistic advice ‘the key factor’ in impact of two pots on clients
Clients whose financial habits have been moulded by sound advice over many years are unlikely to act irresponsibly now, says Fairbairn’s Guy Holwill.
Help clients to explore alternative options to savings ‘pot’ withdrawals
Advisers should be able to show that all the other available options have been considered, says Old Mutual’s Lizl Budhram.
FSCA alerts funds of consequences if two-pot rule amendments aren’t submitted by 31 July
Funds that cannot pay withdrawals because their rules are invalid must inform members why they may not be allowed to access their benefits.
10 things people often get wrong about the two-pot retirement system
Old Mutual’s learnings about what people know or expect, based on its interactions with customers and advisers.
Ramaphosa and Steenhuisen say differences over NHI can be resolved
But statements by the Minister of Health indicate the ANC does not believe material changes to the NHI Act should be made.
Pre-retirement savings withdrawals ‘make sense in certain cases’
Preservation must be encouraged, but the reality is that a retirement fund is many South Africans’ only source of savings, says Alexforbes.
Dispelling misconceptions about the two-pot retirement system
Members particularly need to understand pre-retirement withdrawals, and the implications of these withdrawals, including tax and liquidity at retirement.
Sending the details later cannot cure a non-compliant notice of intention to debar
The Tribunal finds that the debarment process followed by an insurance brokerage was not lawful or fair.
