Bestmed sets 2027 contributions to increase by 7.35%
The scheme is adding a R1 000 healthcare benefit, expanding preventative care, and making targeted changes to medicine, casualty, and clinical cover.
Author: Moonstone Information Refinery
UPDATED | Regulator provisionally withdraws five FSP licences
The separate actions follow findings of alleged contraventions at three providers and preliminary questions about the management and oversight of two others.
FIC issues draft guidance for dealers in precious metals and stones
Draft PCC 126 sets out when dealers fall within FICA’s high-value goods category and explains the resulting registration and compliance obligations.
FSCA reviews broker-fee governance and bank sales conduct
The 2025/26 Integrated Report records supervisory work on disclosure, customer consent, transactional fees, and customer treatment.
Authority reverses expected deficit to post R118.7m surplus
Levies supplied almost 89% of revenue, while the financial statements recorded a R4.04bn impairment against gross penalty debtors of R4.06bn.
Inspections uncover recurring gaps in key compliance controls
Higher-risk institutions were found wanting on RMCPs, customer due diligence, registration requirements, and targeted financial sanctions screening.
Blocked proceeds and FIC-linked recoveries fall sharply
Demand for financial intelligence remained high as the Centre supported court proceedings, asset-recovery work, and the Madlanga Commission.
CASP growth drives new demands on FIC supervision
CASPs helped the FIC exceed its illicit-flow intelligence target, while only 176 of the 362 registered providers submitted Directive 7 returns.
Bank freeze and SARS recovery powers converge in VAT fraud case
The judgment considered Bidvest’s contractual authority to suspend the account separately from SARS’s subsequent use of section 179 of the Tax Administration Act.
Waseem Carrim takes over RAF as claims and governance crises mount
The new CEO inherits a Fund grappling with a large claims backlog, mounting legal costs, and management instability.
Santam strengthens Syndicate 1918 team as Lloyd’s operation scales up
Hina Shavdia joins as COO as Santam increases Lloyd’s capacity and expects a larger loss before the business reaches break-even.
SCA draws the line on access to FIC information
The Court says confidential information cannot be disclosed simply because it may be relevant to litigation, reinforcing the protections built into FICA.
Retirement fund fees: Is cheaper really better?
The developing FSCA value-for-money approach puts costs alongside investment performance, service quality, governance, and member outcomes.
AI could change financial advice. But who is thinking for the client?
FSCA deputy commissioner Farzana Badat offers a glimpse into the regulator’s thinking on accountability, privacy, and human oversight.
OPFA: Trustees can’t outsource death-benefit decisions to formulas
The determination highlights the need for independent judgment, proper investigation, and clear reasons when allocating benefits among dependants.
Serious financial harm not enough to secure removal of SAFPS listing
The High Court recognised the potentially serious prejudice to the applicant but found that his evidence did not meet the threshold for interim relief.
Procurement Act struck down: What happens to the reform now?
The rules governing public procurement remain in place, but the government’s plan for a new framework has been sent back to the drawing board.
