SARB moves to liquidate community bank
Ditsobotla is in worse financial shape than previously thought, and the resolution process is unlikely to turn things around.
Author: Moonstone Information Refinery
When algorithms collude: how AI may break competition law without intent
Experts warn that AI tools may quietly drive price-fixing and collusion, posing a new threat to competition law.
Group benefits are a safety net – if they’re understood
Employee benefits specialist and Certified Financial Planner® Johann Peens unpacks the common pitfalls that can leave members exposed.
Average living annuity drawdown rate drops below 6% for the first time since 2011
Strong market returns and rising balances have prompted many retirees to reduce withdrawals – a trend ASISA encourages annuitants to maintain.
Treasury publishes tax changes affecting pensions, trusts, and individuals
In addition to foreign pensions and trust income, the measures affect death benefits, child maintenance, capital distributions by unit trusts, and assessed losses.
VAT-registered schools may face cashflow shock
The proposed blanket exemptions for goods and services supplied by schools will force VAT-registered schools to deregister and lose input-tax recovery.
Draft NCA regulations widen credit-data scope and tighten affordability tests
An affordability assessment will require lenders to recognise revenue from commercial activity funded by credit and the potential realisation of assets.
FST upholds FSCA’s revocation after employer trustees excluded from vote
The Tribunal agrees with the Authority that the rule amendment was void because the employer-appointed trustees were asked to leave the meeting during the deliberations.
Labour inspectors to regain power to enforce contribution compliance
The Department of Employment and Labour is withdrawing a determination that prevented inspectors from enforcing section 34A of the BCEA.
Syndicates falsely claiming links to JSE and FSCA
Two WhatsApp-based syndicates are misrepresenting links to the JSE and the FSCA and unlawfully soliciting funds.
High Court allows OMART to search underwriting manager’s premises
Old Mutual Alternate Risk Transfer wants to access data held by SA Guarantee Specialists after discovering that offshore guarantees were issued without authorisation.
Court slaps Ithala for ignoring warnings, upholds repayment administrator’s authority
The High Court says the state-owned financier must comply with deposit controls while awaiting the Supreme Court of Appeal’s ruling.
FSCA publishes comprehensive Conduct Standard for CIS managers
The Conduct Standard establishes mandatory risk, compliance and internal audit functions, plus notification and approval requirements for key appointments.
Cyber threats: awareness high, but cover still low
Only a fraction of South African consumers and businesses have cyber cover, leaving a significant gap between awareness and protection.
Free FIC webinars for accountable institutions in August
The sessions will cover institutions’ regulatory reporting obligations and establishing beneficial ownership.
Rapid growth of Ninety One fund signals rising demand for SA infrastructure debt
The SA Infrastructure Credit Fund has reached R2 billion in assets under management, with over 80% deployed into transport, energy, water, and digital projects.
Insurer told to withdraw advert that promoted discrimination
The ARB found that the ad’s analogy between greeting a taxi driver in the ‘wrong’ language and driving without insurance relied on a harmful stereotype.
