Go-ahead for merger between Anchor and Credo
The combined business will have assets under administration of more than R230 billion.
Author: Moonstone Information Refinery
Unpacking the strategic partnership between the FSCA and B-BBEE Commission
A failure to comply with specific BEE thresholds outlined in transformation plans could lead to the Authority withholding licences.
Jooste’s death raises questions about the fate of seized assets and Steinhoff prosecution
A fiduciary expert discusses the legal complexities surrounding attached assets in the wake of Markus Jooste’s death.
Primary health insurance policies can be sold for another year
The exemption will remain in force for 12 months unless a decision is made on low-cost benefit options before 31 March 2025.
Veracity Markets hit with R10 million fine for unauthorised OTC trading
Nirvesh Financial Services was also penalised for failing to ensure that its representatives, Veracity and its directors, complied with the applicable laws.
FSCA fines MyWealth DIAS and MyWealth Method more than R73m
Investors were promised returns of up to 400%, but there was no legitimate financial product or investment activity, the FSCA says.
FSP top ups maturity value after Ombud finds investor was not properly advised
The complainant was aggrieved because he received R470 000 from the R700 000 put into an investment plan with income.
Tax collection in 2023/24 comes in at R10bn more than expected
SARS rakes in more from personal income and VAT, but corporate tax slumps by almost 9%.
FSCA only accepting e-Portal submission of financial statements and returns
The Authority will deem financial statements and other reports as outstanding until they are correctly captured and submitted on the FAIS e-Portal.
Updated risk assessments for estate agents and legal practitioners
The Financial Intelligence Centre has revised the reports first issued in March 2022.
CBI director fined R216 million and debarred for 10 years
Coenraad Botha and his wife are facing 64 charges in Namibia related to an alleged illegal investment scheme involving N$163 million.
Only days left to book for Moonstone’s 2024 Regulatory Update Webinar
The agenda includes FICA compliance, the roll-out of Omni-CBRs, and managing the risks around business email compromise.
RAF’s legal rope nearing its end as High Court tells fund to pay R33 million
The recent ruling by the High Court underscores the Road Accident Fund’s obligation to reimburse medical scheme members for past medical expenses covered by the injured person’s medical scheme after a motor vehicle accident.
Old Mutual prepares to shake up banking sector with new bank
South Africa’s second-largest insurer is set to launch a bank that will focus on capturing the mass market segment.
FIC issues guidance on what is ‘a high-value goods dealer’
A high-value good is an actual physical item, and facilitating the trade of high-value goods does not make one a HVGD.
New deadlines for completing the Trustee Training Toolkit
The FSCA has launched the second and final batch of the 22-module online course for board members of retirement funds.
Public warned against doing investment business with these entities
The unlawful impersonation of authorised FSPs to convince the public to part with their money is increasing.
