SA-born trader gets probation and $1m fine for manipulating exchange rate
The sentence was influenced by the judge’s view that Morgan Stanley was familiar with the risks of the unregulated foreign exchange spot market.
Author: Moonstone Information Refinery
Ransomware attack at National Health Laboratory Service
The automated digital system for sending laboratory reports to clinicians was disabled.
Constitutional Court’s ruling in tax dispute a relief for SA multinationals
Coronation withdraws cautionary to shareholders following victory in litigation with SARS over the foreign business establishment tax exemption.
Investigation calls into question the narratives used to support NHI
BHF-commissioned study identifies 11 assertions made about private healthcare and medical schemes that lack foundation.
FSCA to launch retirement fund education campaign
The FSCA encourages members of retirement funds to check whether their employer is in arrears with their contributions.
Critical illness: Momentum Life Insurance urges comprehensive coverage planning
Momentum’s 2023 statistics show that 57% of death benefit claims were due to cardiac and cancer events, yet less than 81% of these claimants had critical illness cover.
SCA rules on composition of Financial Services Tribunal panels
Litigation between Trustco and the JSE over the group’s financial statements.
Inseta extends lifeline for Further Education and Training Certificates
Inseta’s decision allows MBSE to continue offering its FETC Short-term Insurance and FETC Wealth Management qualifications.
Economists forecast a repo rate cut in November
The annual inflation rate remained unchanged at 5.2% in May, but it is still some way from the Reserve Bank’s target of 4.5%.
Third opportunity to comment on revised RMCP guidelines
Draft Guidance Note 7A provides further guidance to accountable institutions about their Risk Management and Compliance Programme obligations.
Expect ‘investment opportunities’ punted via social media and messaging apps to be scams
ASISA provides a list of tell-tale signs that someone is trying to defraud you.
Sanlam to acquire majority stake in MultiChoice’s NMS Insurance Services
MultiChoice plans to use the up to R2.7 billion cash proceeds from the transaction for working capital purposes.
Why young South Africans can’t afford to skip insurance
During National Youth Month, Marius Kemp from Santam emphasises the importance of insurance for young people, who often lack emergency savings.
What medical scheme members should know about new financial reporting standards
The change is aimed at making the financial information of insurers more easily comparable across countries and industries.
Second round of consultations on beneficial ownership guidance
The Financial Intelligence Centre has published its responses to the comments it received during the first round of consultations.
Old Mutual’s chief executive is new ASISA chairman
Mahesh Cooper, Allan Gray’s chief operating officer, is appointed as deputy chairman.
No savings pot withdrawal in September if your balance is less than R2 000
The Actuarial Society of South Africa urges retirement fund members to check their benefit statement to see whether they will qualify for a withdrawal.
