Bank held liable for R2.1 million paid to fraudulent ‘executor’
A High Court ruling notes procedural failures at Standard Bank’s deceased estates department – highlighting that banks must verify and act only on valid letters of executorship.
Author: Moonstone Information Refinery
FSCA investigating banks’ transaction fees
The Authority has found wide discrepancies in charges for similar services across banks, says Godongwana.
Retirement funds can’t use POPIA to withhold information from the Adjudicator
PAIA and POPIA should not be misused to hide inadequate investigations into dependants’ claims.
‘Little appetite’ for shift from asset-based charges and commission
The Adviser Barometer, based on the responses of nearly 600 financial advisers on the Allan Gray platform, sheds light on what’s driving fee structures, technology investments and client-engagement strategies in South Africa’s advice industry.
High Court slams SARB over R200m block on Steinhoff successor’s funds
Judge finds the Reserve Bank acted without evidence or legal basis in freezing funds Ibex needed to repay offshore creditors.
R2bn Ithala guarantee sparks row over fiscal risk to KZN
The Minister of Finance’s bailout plan for Ithala’s retail depositors has drawn sharp criticism from KZN’s Finance MEC Francois Rodgers, who warns the deal’s fine print could leave the province footing a hefty bill.
Accountability still lacking as corruption persists in South Africa
South Africa’s score on the global Corruption Perceptions Index remains at a decade-low, reflecting persistent governance failures.
How professional indemnity fits into broker risk management
Overlooking crucial risk management steps can significantly affect brokers’ liability exposure and their PI insurance coverage.
Tight-lipped Treasury braces for tough Budget to plug R75bn shortfall
Finance Minister Enoch Godongwana won’t reveal where the spending cuts or savings will come from but says South Africa must “do more with less”.
Coalition politics hampered Budget consensus, says Godongwana
South Africa’s credibility among investors and ratings agencies will depend on whether the government meets the fiscal targets it has set, says Treasury.
Link between size of household investments and financial advice
The research also finds that South Africans turn to advisers primarily in times of uncertainty or when faced with a personal crisis.
Member’s withdrawal bid denied as two-pot rules exclude legacy RAs
The Pension Funds Adjudicator rules the fund acted within the law when it refused a member’s request to dip into his FlexiPension plan.
R1.18m fine and five-year debarment for unauthorised CFD trading
The FSCA’s investigation also found that Petrus Rasmus Erasmus provided trading signals without a licence.
Defining ‘financial education initiative’: key takeaways from new Conduct Standard
Senior legal adviser Lize de la Harpe unpacks the critical definitions, scope-limits, governance, and reporting obligations of the FSCA’s Conduct Standard.
Scammers falsely claim to be associated with Brenthurst Wealth, Nicolette Mashile and 1nvest
Online fraudsters are abusing the names of Brenthurst Wealth’s Magnus Heystek and Brian Butchart, as well as Nicolette Mashile of Financial Fitness Bunny, to solicit money from the public.
‘No big stick’: Tau calls for collaboration on Transformation Fund
The Fund is intended to amplify, not replace, existing enterprise and supplier development mechanisms under the B-BBEE framework.
Fraudsters pose as SAPS officers to extort money and data
Impostors use calls, WhatsApp and video links – complete with fake warrants – to coerce compliance under the guise of a criminal probe.
