Steinhoff’s fall: former CFO Ben la Grange sentenced
La Grange was sentenced to 10 years in prison, with five years suspended contingent on his co-operation with the State in future cases involving Steinhoff’s executives.
Author: Moonstone Information Refinery
HSBC and Bidvest hit with fines for FICA non-compliance
The fines on both banks run into millions of rands, but most of the penalties are conditionally suspended.
Sanlam wins appeal as High Court enforces policy’s contractual terms
The High Court overturns a Regional Court’s decision that allowed a policyholder to cancel her five-year endowment policy early.
Rise in complaints about medical schemes clawing back losses allegedly linked to fraud and waste
Schemes and healthcare professionals are at odds over whether these recoveries are justified, says the Council for Medical Schemes.
Constitutional Court clarifies CGT in multi-tier trust arrangements
The court’s interpretation and application of the conduit principle has implications for structures involving layers of multiple discretionary trusts.
Total of R5.3m frozen as court issues second order in ‘pyramid scheme’ case
The National Consumer Commission claims the scheme misled participants with false promises of grocery rewards and high returns.
Markus Jooste among major offenders as FSCA fines surge
The Authority suspended 1 061 FSP licences in 2023/24, primarily for non-compliance with statutory returns.
Squirrelling away financial wisdom: children’s books make money smarts fun
During Financial Planning Week, Moonstone Business School of Excellence applauds Foord’s initiative to promote financial literacy among young children.
Why Discovery’s fund members are making two-pot withdrawals
Despite relatively low overall withdrawal rates, 24% of claimants are using their retirement savings for home or car repairs and 21% for settling short-term debt.
Two ‘enablers’ of BHI Trust Ponzi scheme hit with 30-year debarments
Craig Warriner’s confession to orchestrating a massive Ponzi scheme has led to 30-year bans for Global & Local’s Michael Haldane and Mauro Forlin.
Sasria aims to reintroduce R1bn cover amid rising reinsurance costs
Sasria’s five-year strategic plan includes the reintroduction of R1bn excess of loss cover and expanding its coverage for events such as natural disasters.
Accidental confession leads to conviction in insurance pay-out murder
A woman and her accomplice were each sentenced to 26 years in prison for murdering her uncle so she could benefit from his life cover.
FIC’s 2023/24 annual report: the battle against financial crime
The Financial Intelligence Centre facilitated the recovery of R98.5m in criminal proceeds and generated 3 924 intelligence reports.
Old Mutual fined almost R16 million for FICA violations
The Prudential Authority discovered the non-compliance during a routine inspection conducted four years ago.
Accountancy body’s chief executive dismissed after forensic investigation
SAIPA’s board has terminated CEO Shahied Daniels after findings of serious misconduct, including unauthorised international dealings and financial irregularities.
FSCA to implement fee increase in October
The FSCA will increase the fees it charges for various supervisory activities by 6% from tomorrow, 1 October.
First Steinhoff conviction: insider trader avoids jail but must testify against accomplices
Dr Gerhard Burger, who travelled with Steinhoff directors to oversee their health, pleaded guilty to three counts of insider trading.
