Insurer correctly repudiated claim for allegedly written-off car – High Court
The policyholder did not disclose two previous ‘minor’ incidents involving a different vehicle and a different insurer.
Author: Mark Bechard
Policyholder waiting for funeral policy payout after three years
The FAIS Ombud issues a determination after the FSP fails to follow through on its undertaking to settle the claim.
Directory of the FIC’s compliance communications issued in 2023
The directory contains a brief description of each document, a link to the document and, where available, links to other communication related to it.
KI’s enquiries could have prevented losses suffered by Stringfellow clients, says FST
‘A key individual is not only responsible to oversee the categories of financial services for which he is licensed, but he bears an oversight role in relation to the FSP generally.’
‘Courts should not simply rubberstamp punitive costs orders against defaulting consumers’
Judge says the courts have a duty to assess whether contracts do not offend against constitutional principles, as well as the NCA and the CPA.
Accountancy body places executives on precautionary suspension pending a forensic investigation
A group of SAIPA members is calling for the matter to be discussed at a special general meeting.
Two pots: proposed implementation date is neither 1 March 2024 nor 1 March 2025
The Minister of Finance responds to the Standing Committee on Finance’s call for the implementation date to be moved to 1 March next year.
Urgent need to close regulatory gaps in over-the-counter markets, says FSCA
National Treasury will introduce the COFI Bill ‘very soon’ and amend the Financial Markets Act to tighten regulation of the country’s financial markets.
Two pots: MPs envisage staggered implementation
The finance committee’s decision seems, in part, to be based on the assumption that some fund administrators will be ready to ‘go live’ on 1 March next year.
LIVE UPDATE | MPs insist two-pot system be implemented on 1 March 2024
The National Assembly’s Standing Committee on Finance met on Tuesday morning to deliberate clause-by-clause on the two-pot legislation.
Supreme Court upholds King Price’s appeal against motor vehicle claim
The SCA finds the policyholder failed to produce evidence to support his pleaded claim for damages based on the vehicle’s market value.
Discovery Connect acts against sales agents who manipulated clients’ policies
The Financial Services Tribunal hears the reconsideration applications brought by three of the 15 implicated agents.
Must a retirement fund impose a timeline on an employer to institute civil proceedings?
More than a year passed between the employer indicating that it reserved its right to withhold a former employee’s withdrawal benefit and instituting civil proceedings against him.
National Treasury proposes more changes to the two-pot retirement system
Delaying the implementation date and raising the seeding cap are among the announcements and clarifications.
Sasria wants an explicit guarantee that the state will be its reinsurer of last resort
The reinsurance market will remain hard for the foreseeable future, and most reinsurers believe another July 2021 is just around the corner, says chief executive.
Supreme Court of Appeal sends a clear warning about non-compliant group schemes
SCA rules on the dispute between KGA Life and Multisure that arose after the cancellation of the intermediary agreement.
The FAIS Ombud has some good news for FSPs
The FSCA and the FAIS Ombud have announced their proposed levy and fee increases for 2024/25.
