Sanlam Collective Investments hit with R10.6m FIC Act penalty
Despite the FSCA’s findings of RMCP gaps, SCI confirms that client funds remain secure and no money laundering or terrorist financing was detected.
Author: Moonstone Information Refinery
SIU flags interference as SCOPA inquiry exposes governance and financial failures at RAF
The Special Investigating Unit has raised serious concerns over potential interference by the Road Accident Fund in its ongoing investigation.
FSCA publishes proposed levies and budget for 2026/27
The Authority seeks a 4% increase in levies to fund its operating expenditure, which will rise by 9%.
CMS: No complaints about brokers’ conduct in 2024/25
The Council for Medical Schemes’ latest annual report shows a decline in registered complaints – continuing a three-year downward trajectory.
FST upholds debarment of planner who signed advice records without meeting clients
The planner said his employee performed administrative tasks and denied that the engagements constituted ‘advice’ under the FAIS Act.
Judge slams motor dealership for ‘sharp practice’ in defective vehicle case
The High Court upheld the NCT’s ruling against Avura Motors, criticising the dealership for attempting to discredit an assessor’s report it had previously relied on.
Consumer Goods Medical Scheme launches new options as it opens to entire sector
The Council for Medical Schemes has approved two savings plans that will be marketed from 1 November.
CMS research points to urgent need for chronic disease and cost-of-care reforms
Two new CMS studies highlight the growing strain of chronic diseases and soaring out-of-pocket healthcare costs.
High Court confirms curatorship of medical scheme
The Court ordered Sizwe Hosmed’s principal officer to personally pay legal costs after dismissing the scheme’s attempt to overturn the provisional curatorship.
How the two-pot system reshapes pension rights in divorce settlements
The two-pot rules redefine ‘pension interest’ at account level, meaning funds must deduct awarded sums proportionally from the savings, retirement, and vested components.
Move to two-pot system drives jump in complaints to the Adjudicator
Outgoing Adjudicator Muvhango Lukhaimane says the system has laid bare long-standing non-compliance with section 13A of the Pension Funds Act.
FSCA seeks fresh data to guide crypto regulation
The Authority has told all crypto asset service providers to complete a comprehensive questionnaire on their business activities and risk management practices.
COFI will redefine the OPFA’s role and scope
Expanding the Office’s mandate to include disputes involving advice will enhance member protection, but there are concerns over jurisdictional overlaps and operational costs.
Legal experts flag concerns with draft POPIA regulations on health data
The proposed regulations on processing health and sex life data introduce consent and assessment requirements for, among others, insurers, medical scheme administrators, and retirement funds.
SCA to hear BHF’s appeal on low-cost medical options
The Supreme Court of Appeal will hear arguments on the merits if the appeal is upheld.
Discovery integrates sleep into its health and insurance models
Discovery’s new research highlights sleep as a critical but overlooked health factor, finding strong links between poor sleep, chronic illness, and road accidents
Accounting body says UIF breakdown is a national compliance crisis
The Chartered Institute for Business Accountants has launched a campaign to press for reform of the Unemployment Insurance Fund.
