Labour Court upholds restraint of trade, warning against confidentiality breaches
Two insurance brokers found themselves under the scrutiny of the Labour Court, as they were called to account for soliciting clients from their previous employer.
Author: Moonstone Information Refinery
New National Financial Ombud scheme launches
The previously separate credit, banking, and long-term and short-term insurance ombud schemes are now under one roof.
Health department pushes the case for ‘affordable’ NHI
Meanwhile, Solidarity suffers a setback in its efforts to halt the government’s preparations for implementing the system.
FIC publishes new guidance on financial sanctions compliance
Accountable institutions are required to scrutinise client information against the targeted financial sanctions lists to identify designated persons and entities linked to clients.
Ombuds will handle cases involving disputes of fact or law and award compensation
And the requirement to accept oral complaints applies to financial institutions, not only ombuds.
FSCA fines asset manager R16m for FICA non-compliance
The reasons for the sanction are virtually identical to those that saw the Authority fine an FSP earlier in February.
Certain intermediaries can continue to provide premium collection services
Independent intermediaries must adhere to the conditions if they want to rely on the exemptions from the regulations under the Short-term and Long-term Insurance Acts.
Information Regulator issues Enforcement Notice over direct marketing violations
The regulator says its ‘leniency regarding direct marketing through unsolicited electronic communications is going to be a thing of the past’.
Deadline alert: make the most of public holidays to meet CPD requirements
MBSE’s CPD subscription packages are designed so that FSPs and their representatives can obtain their CPD hours.
Corporates brace for impact: navigating SA’s top 10 business risks
For the first time, theft, fraud, and corruption have surged onto the Allianz Risk Barometer’s top 10 business risks for South Africa.
Kieswetter agrees to extended term as SARS head amid economic challenges
The commissioner says the Revenue Service has put measures in place to meet the revised estimate for revenue collection.
Study: RAF losing R3bn a year in ‘opportunistic’ loss of income claims
Research on behalf of the Actuarial Society recommends prohibiting individuals with minor injuries from submitting loss of income claims.
Treasury: tough challenge to tick off all the items on FATF’s Action Plan
SA has staggered deadlines by when it must address the 17 outstanding items on the global body’s 22-item Action Plan, to get off the grey list.
SARS’s R4.8bn damages claim has no merit, says Sasfin
The summons is a result of SARS’s purported inability to collect taxes owed by former clients that were allegedly part of an international criminal syndicate.
New tax reforms edge closer: public comment open on four draft Bills
The Draft Global Minimum Tax Bill aims to enforce a 15% multinational top-up tax on multinational enterprise groups, aligning with global efforts to implement a comprehensive system of minimum taxation.
Insurer seeks costs order against debarred representative
Insisting on a formal hearing at the Tribunal, and then not attending it, may have unpleasant consequences.
Is South Africa on track to getting off the grey list?
Moonstone speaks to Ninety One’s Sangeeth Sewnath about the extent to which greylisting is affecting the economy, the markets, and investors.
