Treasury accepts most of the industry’s two-pot proposed amendments
Among other things, the revised Amendment Bill will clarify how funds should calculate seeding when provident fund members choose to join the system.
Author: Moonstone Information Refinery
Consumer settlements rise as FAIS Ombud sharpens complaint handling
More than R39m awarded to consumers as complaints settled in their favour increased from 29% to 35% in 2023/24.
Former Joburg mayor arrested for alleged funeral insurance scam
Kabelo Gwamanda is accused of conning Soweto residents through his company, Ithemba Lama Afrika, leaving policyholders stranded when the business vanished in 2012.
Rethinking inflation: SARB’s governor on achieving lower rates without sacrificing growth
Having reached the target of 4.5% with ‘little or no cost’, Lesetja Kganyago argues that South Africa can achieve permanently lower inflation and interest rates.
South Africa’s workforce forecast to see average 6% pay rise
Average inflation is expected to be 5.1% in 2024 and 4.8% in 2025 and 2026, according to the Bureau for Economic Research’s latest inflation expectation survey.
Does ‘sitting on the mattress’ matter? Ombud rules on insurance policy dispute
The NFO decided that failing to follow customary mourning rituals did not prevent the recognition of a customary marriage, awarding the claim based on fairness.
Fraudsters impersonate FSCA commissioner in latest scam
The FSCA also reiterates its warning against Donafin, which continues to charge fees for unauthorised financial services.
Tribunal upholds financial planner’s actions in annuity rate dispute
The planner acted in the client’s best interest, highlighting the importance of clear communication and thorough record-keeping in financial advice.
Regulator pushes for tougher PAIA enforcement to combat low compliance
Key proposed amendments include imposing fines for non-compliance, enhancing the Information Regulator’s authority to issue directives, and introducing search-and-seizure powers.
SARB seizes over R67 million from former Steinhoff executive
Stephanus Grobler, who is facing multiple charges including racketeering and fraud, is due to appear in court in February next year.
When money matters: understanding the link between financial stress and mental health
Financial stress frequently appears in the workplace as anxiety, which can develop into depression, increased absenteeism, and substance abuse.
Closing the gaps in cancer care: academic advocates for patient-centred solutions
Associate Professor Tasleem Ras’s analysis of a patient’s case highlights critical pitfalls in cancer care.
Entity falsely claims to be associated with MiWay Insurance
FSCA warns about Miway Express Credit Solutions, as well as entities and individuals who are impersonating legitimate FSPs.
PSG delivers 28% earnings surge despite tough market conditions
The group reported a 15.9% increase in assets under management to R435bn.
R3m fine and 10-year debarment for VBS-linked adviser
The former owner of Gundo Wealth Solutions has been fined R3 million and debarred for a decade for brokering investments into VBS Mutual Bank.
MBSE’s first cohort of students praise detailed RE 5 training
MBSE’s RE training equips students with the knowledge and skills they need to approach the RE 5 exam confidently.
FSCA’s first enforcement action for unauthorised trading signals
The Authority has made good on its undertaking to act against unlicensed trading signal providers, imposing a R1m fine and a 10-year debarment.
