R2.1m in penalties: FSCA shuts down unauthorised forex scheme
The FSCA has fined two individuals R2.1 million and debarred them for 20 years after uncovering an unauthorised forex-trading scheme that drew in hundreds of investors.
Author: Nettalie Viljoen
RAF inquiry | ‘You can’t fix liabilities through accounting’
Treasury says the RAF must address its claims and payments processes, not try to manage its massive liabilities by changing accounting standards.
ASISA report: ownership gains, management equity lags, new targets raise pressure
The misalignment between the FSC benchmarks and stricter government employment equity targets is set to increase the transformation pressure on life offices and asset managers.
Old Mutual banks on late-mover edge as OM Bank goes live
CEO Clarence Nethengwe says arriving after rivals has given Old Mutual the chance to learn what customers really want in digital banking.
Two-pot system could quadruple South Africans’ savings, Discovery says
Despite fears of mass withdrawals, early data shows most members are preserving their two-pot savings – a shift that could leave South Africans up to four times wealthier in retirement.
Medihelp’s solvency dips again, but scheme says recovery plan is working
Medihelp says its recovery plan is on track, with strong cost controls, younger members, and CMS-approved funding measures set to restore financial stability by 2026.
Financial institutions should prepare for ‘more demanding’ AML/CFT review
The FATF’s mutual evaluation in April 2027 will drill down into how well AML/CFT measures work in practice rather than just ticking technical boxes.
Expect the FSCA to call – heightened AML/CFT oversight ahead
What the Authority expects from financial services providers when it conducts Financial Intelligence Centre Act inspections.
Government revives rejected Bill to fix Road Accident Fund
Transport Ministry abandons RAF Amendment Bill and plans to re-introduce the equally controversial Road Accident Benefit Scheme Bill.
RAF board may ditch costly court fight over accounting standards
The Road Accident Fund board is taking steps to address deep-rooted governance and financial issues – from executive suspensions to tightening legal oversight – but Parliament is questioning whether it’s too little, too late.
Fuel levy rises despite court challenge, but price drop cushions blow for motorists
The fuel levy hike remains in force, but a broader court challenge over the finance minister’s power to increase taxes continues.
Did the FSCA overstep in Banxso’s liquidation battle?
Banxso claims the FSCA violated the Financial Sector Regulation Act by handing over interview transcripts that were supposed to remain internal. The Authority insists its subpoena was valid and no promises of confidentiality were made.
Letsoalo lawyered up a week before RAF board put him on ice
A week before being placed on special leave, RAF chief executive Collins Letsoalo enlisted legal counsel and declined to appear before Parliament’s Standing Committee on Public Accounts.
‘A train wreck’: SCOPA chair tears into RAF board over vacancies and fiscal chaos
Committee chairperson Songezo Zibi slams the Road Accident Fund’s leadership for dysfunction, defying court rulings, and turning oversight into a ‘mockery’.
Two-pot’s billion-rand bill: future fund members could carry the cost
The FSCA finds wildly inconsistent withdrawal charges under the two-pot retirement system, with some members paying up to R750 per transaction.
Budget gap widens as revenue projections slide
The revised Budget reveals the hard truth: with limited borrowing room and rising demands, Treasury must make tough calls on what to fund – and what to cut.
Restarting Ithala: inside the legal tug-of-war over SA’s ‘state bank’
After months in limbo, Ithala resumes limited operations – but its revival faces steep legal and regulatory challenges as the battle over its liquidation and banking status intensifies.
