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.
Author: Moonstone Information Refinery
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.
Sam Bankman-Fried gets 25 years’ imprisonment for FTX fraud
The judge criticised Bankman-Fried for his lack of remorse and stated that he knew his actions were criminal.
Rise in life policy uptake despite economic pressures
Lapses and surrenders fell slightly in 2023, while consumers purchased more risk and savings policies than they did in 2022.
Arrear contributions: 10 employers should not have been on the list
The FSCA publishes its latest list naming thousands of entities that allegedly owe retirement fund contributions.
Bookings are open 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.
Entities that don’t take clients’ data security seriously are playing with fire
Dis-Chem is in the clear. TransUnion was issued with an Enforcement Notice, and the Information Regulator is investigating the data breach at the CIPC.
Investigations uncover sale of funeral policies without underwriting
One of the businesses admitted to issuing more than 4 000 policies and collecting R14 million in premiums without having a licensed underwriter.
Jooste’s death won’t affect Steinhoff investigation
A former Steinhoff executive appeared in the Specialised Commercial Crimes Court on Friday charged with fraud and racketeering.
Interest rate cuts only likely in the third quarter of this year
The drier El Niño weather pattern is emerging as one of the biggest risks to the outlook for food inflation.
How the Authority arrived at a fine of R475 million
Jooste was more blameworthy than others because he deliberately contravened the law and was well qualified to understand his conduct’s implications, the FSCA says.
FSCA to embed ‘consumer vulnerability’ in its approach to supervision and regulation
The Authority’s Statement on Consumer Vulnerability will inform its engagements with stakeholders, starting this year.
Authority fines another FSP for FICA non-compliance
The FSCA’s inspection identified defects with the implementation of the RMCP and a failure to conduct a thorough client due diligence.
