Failure to meet Fica provisions costs FSP R400 000
The Appeal Board’s decision underscores the crucial role of risk management and compliance in the financial sector’s battle against money laundering and terrorism financing.
Author: Moonstone Information Refinery
FIC issues ‘final demand’ to accountable institutions to comply with Directive 6
The applicable designated non-financial businesses and professions that do not submit a risk and compliance return face administrative sanctions.
Cracked solar panels could give farmers a break from thieving
An Eastern European company is manufacturing solar panels that appear broken, so thieves won’t be tempted to steal them. But where might this end?
BRICS discussion on dollar dominance ‘a good debate to have’
PSG chief investment officer Adriaan Pask analyses the potential shift in global currency dynamics post the BRICS Summit.
South Africa’s insurance industry faces an uphill battle
Aon’s 2023 State of the Market Report unveils troubling trends as South Africa’s insurance landscape grapples with various challenges.
FIC issues guidance for trust and company service providers
Persons who are trustees in their personal capacity only are not accountable institutions.
Will insurtech disruptors topple insurance giants?
Old Mutual Insure’s chief commercial officer weighs in on the trends set to define the short-term industry over the next decade.
Harsher consequences for not filing cross-border EFT reports with FIC
Two sections of the Financial Intelligence Centre Amendment Act have come into effect.
TCSP guidance welcome, but grey areas remain, says FISA
It may not always be clear when someone has crossed the line into carrying on the business of creating a trust arrangement for a client.
New Trustee Training Toolkit will come online in September
A trustee must attain TKK certification within six months from the date of appointment or election to the board.
Public hearings on two-pot retirement system in September
The National Assembly’s Standing Committee on Finance has announced the deadline for submissions on various pieces of draft tax legislation.
Earn your CPD points by getting up to speed on cyber-security
The course will enable you to assess the pros and cons of adopting cloud computing for an organisation, and what to consider when selecting a cloud service provider.
Making black tax manageable begins with accountability
Published author Ndumi Hadebe weighs in on the importance of clear communication and setting healthy boundaries when it comes to black tax
PA publishes draft guidance notes for banks and insurers on climate-related risks, disclosures
Banks and insurers are expected to treat climate risk as a financial risk rather than merely a reputational risk event.
Beware of chancers: FSCA issues warnings against dubious operators
From individuals impersonating the FSCA to falsely presenting themselves as legitimate FSPs, alleged fraudsters are coming at consumers from all sides.
Why long-term investors should make peace with bear markets and market downturns
Investors should anticipate an equity market decline of at least 10% every 18 months, and a drop of at least 20% every five years.
Failure to have a vehicle inspected does not necessarily mean an insurer can reject a claim
The insurer could not revert to the pre-inception sales discussion when subsequent developments had clearly overtaken that fact, ombud finds.
