FSCA to verify information about the significant owners of FSPs, CIS managers
The fingerprints of affected individuals may be taken to check information such as their qualifications and criminal records.
Author: Moonstone Information Refinery
Discovery versus RAF: more litigation looms
The Fund explains why it believes it is not in contempt of court.
Unravelling the tax challenges of implementing IFRS 17 in the insurance industry
Corporate tax experts Yacoob Jaffar and Shaficque Narker unpack some of their observations of the practical implementation challenges.
FIC issues guide on the definition of a ‘legal practitioner’
Public Compliance Communication 47A also provides examples of money laundering and terrorist financing risk indicators for legal practitioners.
Pension Funds Adjudicator proposes 35% increase in levy for 2024/25
The Minister of Finance will have to submit the increase to Parliament for approval because it exceeds the Consumer Price Index.
Adjudicator questions compulsory membership of private security sector fund
The Pension Funds Adjudicator also says the conduct of retirement fund administrators during a transfer of administration should be regulated.
The lowdown on living annuity income payments to foreign bank accounts
Whether living annuity income can be paid into your foreign bank account will depend on your tax residency, the Sarb and Sars requirements, and your insurer’s processing procedures.
Top trends in the changing role of the modern insurance broker
Santam’s 2023 Insurance Barometer discloses how brokers are adapting and adding value through robust risk management strategies.
Discovery wins in dispute with RAF over medical scheme members’ claims
Constitutional Court refuses to grant the Fund leave to appeal against a judgment declaring its directive unlawful.
Life insurance industry stages a remarkable comeback
Life insurance companies have defied the odds, bouncing back with impressive results in 2022, KPMG’s South African Insurance Industry Survey 2023 finds.
FSCA reports an increase in enforcement action and debarments in 2022/23
The number of FSP licence approvals was the lowest in the past three years.
MBSE provides top-quality financial education and a convenient way to learn
A top achiever in the Advanced Certificate in Financial Planning programme recommends MBSE because of the quality of the teaching and the friendly lecturers.
No major cuts to government expenditure in MTBPS, says Godongwana
National Treasury’s approach is ‘moderate’ spending cuts and a ‘sustainable’ increase in borrowing.
Claim for interim maintenance of R128 298 a month is excessive, says judge
The High Court also rejects a wife’s claim for R300 000 to pay for renovations and furniture, saying Rule 43 does not provide for lump-sum payments.
FIC publishes new guide on how to register with the Centre
Public Compliance Communication 5D updates the content of PCC 5C to take account of the changes to Schedules 1 and 3 to FICA.
What customers are saying online about SA’s major insurers
One short-term insurer bucks the overall negative trend when it comes to the claims-handling process.
Landmark judgment to ensure fairer outcomes in divorce cases
The Constitutional Court’s ruling allows for the possibility of asset redistribution despite the content of a signed antenuptial contract.
