Constitutional Court to rule on remission of interest post-VDP agreement
The decision could set a precedent for taxpayers seeking relief from interest after reaching a Voluntary Disclosure Programme agreement with SARS.
Compliance and Legislation
Final countdown for administrators and employers to prepare for the two-pot system
Discovery Corporate and Employee Benefits provides a checkist of what employers should be doing before 1 September.
Only days left to book for Moonstone’s webinar on restraint of trade agreements
How to use restraint of trade and confidentiality agreements to protect your business’s proprietary interests and competitive edge.
Members can expect payment delays when making withdrawals from the savings pot
The allocations to the savings component can happen only from 1 September onwards, says Old Mutual.
Health insurance benefit increases for 2024 published
The annual benefit escalations for policies that fall under the Demarcation Regulations.
SCA judgment has implications for directors, companies, and D&O insurers
The decision confirms that directors are generally not liable to the company’s creditors unless there is an abuse of the corporate structure.
Certain FSPs and CIS managers must provide information about FICA compliance
The DPI applies to all FSPs excluding FSPs that are exclusively authorised to render financial services in respect of non-life insurance and/or health service benefits.
Regulator announces deadline for the submission of PAIA reports
The heads of private bodies, information officers, or deputy information officers must be registered with the Information Regulator to submit an annual report.
New Joint Standard to regulate insurers’ ‘material’ outsourcing activities
The standard, which replaces GOI 5, governs outsourcing by insurers from a prudential and a conduct perspective.
FSCA withdraws licence of FSP linked to collapsed N-e-FG
The Hawks and the Authority are still investigating whether any of the assets administered by N-e-FG can be recovered.
Cybersecurity Joint Standard: Authorities announce likely commencement date
The FSCA and PA urge financial institutions to prepare for the standard’s implementation despite the provision for a transitional period.
Proposed UK tax reform set to shake up expats’ financial plans
The Conservative government’s plan to eliminate the non-domicile tax regime could mean higher taxes for expats on foreign income from April 2025.
Fund rapped for not giving a member a hearing before deciding to withhold his withdrawal benefit
The member, along with two others, was criminally charged because of allegedly fraudulent conduct that cost the employer R4 million.
Equality Court rejects privacy defence in hate speech case
Senior staff at a wealth management company laid complaints against a former shareholder and client.
New Labour Court rules target backlog: what employers need to know
The rules now specify new requirements for review applications, including that the application must contain ‘no more than a concise statement of the grounds of review’.
FSCA proposes amending the conditions for section 14 transfers
The draft amendments address the misalignment between the current prescribed section 14 application forms and the upcoming two-pot regulations.
Tribunal: clear separation of first-party and third-party risks within cell structures
The decision clarifies the boundaries and regulations concerning reinsurance business conducted through cell captive structures.
