When does the countdown for tracing a fund member’s dependants start?
High Court hands down a decision on the interpretation of the tracing provision in section 37C of the Pension Funds Act.
Compliance and Legislation
SARB sanctions insurers and bank for FICA breaches
The non-compliance was discovered during inspections by the Prudential Authority in 2020 and 2022.
SARS clarifies change to retirement fund contribution deduction
If a person’s year of assessment is less than 12 months, the allowable retirement contribution deduction will be applied pro rata.
Tribunal ruling underscores directors’ obligations regarding financial statements
FST upholds the JSE’s decision to fine Tongaat Hulett’s former CFO R6m and bar him from holding office as a director of a listed company for 10 years.
Important aspects of the Companies Amendment Acts
The Companies Amendment Act provides for more disclosure by companies, and the Companies Second Amendment Act extends the time bars to applications for director delinquency and proceedings to recover loss due to director liability.
Tribunal upholds FSCA’s debarment of adviser accused of stealing clients’ money
The former Old Mutual adviser claimed the complainants were not his clients but his relatives who had agreed to lend him the money.
Recording of Moonstone Compliance’s FICA webinar is available
Moonstone Compliance offers a range of services in respect of FICA and anti-money laundering compliance aimed at accountable institutions.
FSCA notices in respect of competency/fee and FAIS Act exemptions
The Authority also agrees to reconsider its decisions to withdraw the licences of four entities.
Immediate resignation following bonus no reason for debarment, Tribunal rules
The FST finds that the FSP’s attempt to use debarment as a tool to resolve an employment dispute is a misuse of the FAIS Act’s provisions.
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.
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.
