Increase in penalty for non-submission of insurance returns
The penalty is R8 215 a day, in terms of the Long-term Insurance Act or the Short-term Insurance Act.
Author: Moonstone Information Refinery
Sanlam’s India operations pave the way to stellar performance in 2023
All eyes are on the group’s pan-African joint venture with Allianz, to see whether it will mirror the achievements of Sanlam’s interests in India.
Wife accused of murder cannot receive a death benefit
‘The bloody hand does not inherit’ is an established common law principle, says the Pension Funds Adjudicator.
Carrick Wealth partners with UK investment group Marlborough
Marlborough’s Ireland-domiciled UCITS multi-asset portfolios will now be included in Carrick Wealth’s range of investment options.
From legal litigation to leadership: Mulalo Moroe’s journey in insurance law
Mulalo Moroe, recently appointed as head of corporate legal services at Santam, talks about overcoming imposter syndrome and the traits of an effective leader.
Ruling sheds light on SARS’s application of section 12B tax incentive
Binding Class Ruling 88 provides guidance on what qualifies as a ‘generation asset’ and how the allowance applies to limited partners investing in solar PV energy assets.
Financial sector transformation: progress, but challenges remain
Life offices and asset managers exceed B-BBEE ownership targets, but face hurdles with employment equity targets, ASISA report finds.
FSCA aligns waiting periods for funeral policy benefits across insurers
Microinsurers are no longer restricted to imposing a waiting period of three months for a death, disability, or health event resulting from natural causes.
CIS managers warned against breaching the portfolio exposure limits
The exceptions to the exposure limits do not apply when the limits are breached because distributions are re-invested, the FSCA says.
Earn CPD points while getting up to speed on POPIA and FICA
Moonstone Business School of Excellence equips financial professionals with CPD solutions for regulatory compliance.
Santam’s bold strategy curbs underwriting challenges, drives growth
Santam will ramp up efforts to tackle increased weather- and fire-related risks by implementing measures such as adjusting premiums and setting stricter risk limits.
FSP tries to debar another firm’s representative who approached its clients
The FSP conflated the requirements for debarment under section 14 of the FAIS Act with the requirements and procedure for a debarment by the FSCA.
FSCA finalises new Interpretation Ruling on section 37C of the PFA
Interpretation Ruling 1 of 2020 incorrectly brought an unclaimed benefit within the ambit of section 37C of the Pension Funds Act.
CEO fined R7.5m and barred as a director for share-trading during closed period
The JSE says Luxe’s former chief executive refused to acknowledge regulatory correspondence or co-operate with the investigation.
SARS can seize the property of third parties on the premises identified in a warrant
The suspicion that the third party’s vehicle contained material relevant to the taxpayer under investigation was sufficient for it to be searched, SCA finds.
Assets held by collective investment schemes reach new record high
ASISA attributes the growth to market performance and net inflows of R110 billion over the 12 months to the end of December 2023.
Potentially volatile election period ahead: do you have enough riot risk cover?
Sasria’s coverage limits may be insufficient for many large corporates, which will require additional cover in the form of a riot wrap policy.
