Allegations that Sanlam adviser forged signatures don’t stand up, Tribunal finds
It was a ‘material factor’ that the specimen signatures were in hard copy, whereas the disputed signatures were electronic.
Compliance and Legislation
Businesses that don’t submit RCRs face ‘targeted’ inspections or fines
Non-compliant accountable institutions are hindering efforts to get South Africa off the grey list, says the Financial Intelligence Centre.
New Labour Court rules take effect: what you need to know
The new Labour Court and Labour Appeal Court rules bring significant procedural changes to streamline processes and tackle case backlogs.
Proposed conditions for legacy RAs to be exempted from two-pot system
Among other things, funds will have to show that participating in the two-pot system will negatively impact members’ benefits.
FSCA alerts funds of consequences if two-pot rule amendments aren’t submitted by 31 July
Funds that cannot pay withdrawals because their rules are invalid must inform members why they may not be allowed to access their benefits.
What you should know about the 2024 tax-filing season
This year’s return provides for claiming the residential solar energy tax rebate or a tax deduction in respect of the renewable energy tax incentive.
High Court rules in favour of insurer in dispute over towed vehicle
The judgment confirms that providing security in a trust account is an acceptable substitute for physical possession under a lien.
Moonstone Compliance’s FICA webinar is fully booked
Please send us an email if you want to access a recording of the webinar.
Contravention must be ‘material’ to justify a debarment, Tribunal says
Decision set aside, although the FSP was correct in finding that the representative contravened the General Code of Conduct.
SARB sanctions life insurer for FICA non-compliance
The effective fine of R7 million and other sanctions follow an inspection conducted four years ago.
Accountable institutions urged to note heightened terror-financing risk in SA
Accountable institutions should consider the latest Terror Financing National Risk Assessment when implementing their RMCPs.
FSCA notices in respect of authorisation and competency/fee exemptions
Licence withdrawals and suspensions, and licence suspensions that have been lifted.
Dispelling misconceptions about the two-pot retirement system
Members particularly need to understand pre-retirement withdrawals, and the implications of these withdrawals, including tax and liquidity at retirement.
Sharemax case: High Court rules on the status of the FST chairperson’s decisions
The adviser brought an application for the FAIS Ombud’s determination and the Tribunal chairperson’s decision to be reviewed in terms of PAJA.
Sending the details later cannot cure a non-compliant notice of intention to debar
The Tribunal finds that the debarment process followed by an insurance brokerage was not lawful or fair.
Retirement fund ordered to pay fraud victim’s R800 000 benefit
A pension fund mistakenly paid out a fraudulent claim to a syndicate while the rightful member was in prison.
Adjudicator blocks acknowledgement of debt signed under duress
The employee was told she would be granted immunity from prosecution if she agreed to sign the AOD.
