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Author Archive | Moonstone Information Refinery

car-dealership

FSCA wants info on commissions paid by credit providers to motor dealers

The FSCA has given motor dealers and financial institutions operating in the vehicle asset finance (VAF) space until the end of June to complete a questionnaire about dealer introductory commissions (DIC). In a communication issued on 13 May, the Authority said that, following regulatory investigations undertaken in the British and Australian VAF markets, the FSCA […]

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Adrian-Gore

NHI is necessary and morally correct, says Gore

Discovery chief executive Adrian Gore has told Business Day that the proposed National Health Insurance (NHI) system is “a moral imperative” for the country that he supports fully, although he said it would require careful implementation to ensure its long-term fiscal sustainability. “A well-functioning NHI is necessary and morally correct, as we need to address […]

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10XInvestments-CoreShares

10X Investments to buy CoreShares

10X Investments has agreed to a 100% cash purchase of CoreShares, creating a full-service South African indexing investment specialist with more than R31 billion in assets under management. The deal is subject to regulatory approvals, but no delays are expected, CoreShares said in a SENS announcement last week. The purchase price was not disclosed. 10X […]

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Dis-Chem

Dis-Chem data breach affects 3.68 million customers

One of Dis-Chem’s third-party service providers suffered a data breach on April 28, affecting more than 3.68 million of its customers, according to a notice posted on Dis-Chem’s website on Wednesday. It said “there is currently no indication that any personal information has been published or misused as a result of the incident. However, we […]

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Santam

Santam takes full control of Indwe Broker Holdings

Santam, South Africa’s largest non-life insurer, has taken full control of Indwe Broker Holdings after acquiring the shareholding from African Rainbow Capital Financial Services and Sanlam. Before the transaction, Santam held 24% of Indwe, while ARC Financial Services owned 51% and Sanlam held 25%. The transaction makes Indwe a wholly owned subsidiary of Santam and […]

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compliance-report

Compliance reports don’t have to be submitted this year

The FSCA has decided that compliance officers or FSPs will not have to submit compliance reports this year. This was also the case from 2019 to 2021. This was one of the announcements in FAIS Communication 13 concerning compliance reports, handover reports and irregularity reports. The FSCA said it is in the process of developing […]

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