Danie van Zyl of Sanlam Corporate Investments warns that allowing access to retirement components in retrenchment cases might jeopardise long-term savings and place added pressure on trustees.
With Joint Standard 2 on cybersecurity coming into force on 1 June, the Prudential Authority emphasises the need for financial institutions to bolster resilience, share intelligence, and prepare for inevitable cyberattacks.
The revamped website will centralise all regulatory tools and services into one easy-to-navigate platform, making it simpler for FSPs to locate compliance information, verify credentials, and track enforcement actions.
The need to get South Africa off the grey list has seen the FSCA beefing up its supervisory and licensing capacities.
IRS, which is set to go live in 2026, will leverage smart analytics to automate risk assessments and provide a comprehensive view of regulated entities.
The FSCA is preparing for the massive task of migrating about 12 500 financial services providers into the new COFI framework.
The PA shared an update on the six workstreams focused on the transition, confirming that they will be ready to regulate CISs and retirement funds by 1 April 2026.
The minister’s address to the FSCA conference also touched on regulation, South Africa’s G20 presidency, political tensions over the Budget, and economic growth.
While South Africa is on track to exit the grey list by October, National Treasury emphasises the importance of long-term improvements and continuous progress in financial regulation.
The PA and the repayment administrator accuse Ithala of operating unlawfully – comparing its actions to a Ponzi scheme. Ithala argues the freezing of depositors’ accounts is a calculated manoeuvre designed to collapse its operations.
Despite the wind-down of OUTsurance’s employee share ownership plan, CEO Marthinus Visser says the transition to a Customer Shareholding Plan will maintain employee motivation.
With the government now R8.6 billion short, planned social grant increases have been slashed – while Home Affairs and border management also see deep budget cuts.
The group recorded double-digit earnings, robust new business volumes, and an increased dividend, all underpinned by its tri-regional focus.
With the integration of Assupol well under way, Sanlam is working to streamline its operations and enhance its market position.
ASISA warns that reclassifying collective investment scheme portfolios as profit-making schemes will undermine years of established investment policy.
Momentum Investments’ latest Sci-Fi Report reveals how switching funds at the wrong time continues to erode returns, with behaviour tax remaining alarmingly high post-Covid-19.
Taxpayers may struggle to challenge SARS’s authority to repatriate foreign assets after a High Court ruling upheld its powers, potentially paving the way for more assertive tax enforcement.
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