FSCA investigating stokvel following tip-off from a whistleblower
Members of United African Stokvel complain about outstanding pay-outs.
Compliance and Legislation
Debarment is not optional when a rep is no longer fit and proper
Two recent decisions by the tribunal highlight misconceptions about debarment that need to be dispelled.
Amendment enables stronger punishments for ‘serious improper conduct’ by auditors
The Financial Matters Amendment Act introduces stronger sanctions for auditors and significant reforms to pension funds.
Cyber Commissioner Bill advances amid rising threats and attacks
The Cyber Commissioner Bill, recently tabled in Parliament, aims to address an urgent need for the improved protection of personal information and stronger cyber security measures.
The do’s and don’ts of filing your income tax return
Sars is holding thumbs that the problems experienced with auto-assessments last year won’t recur in 2023.
High Court orders Guardrisk to pay R15m construction guarantee
The construction company’s liquidation was a new trigger entitling NAD to call up payment, notwithstanding an arbitration award.
Breaking the Codi – peace of mind comes at a price
Survey gives insight into what South Africans and their banks may have to pay when the nation’s first deposit insurance body becomes operational.
Reminder of 31 July deadline to submit a return to the FIC
This applies to some of the persons who became accountable institutions in terms of the amendments to Schedule 1 of Fica.
When will Cofi be served?
The FSCA publishes its updated regulatory agenda for the next three years.
Employer liable for fund member’s reduced withdrawal benefit, says tribunal
FST does not accept submission that the impact of Covid on the markets absolved the employer of liability for the loss.
FSCA publishes policy proposals on Open Finance for comment
The risks associated with data-sharing and data use must be addressed.
CMS must provide BHF with a complete record of decisions on low-cost benefit options
Medical schemes industry body says it did not receive all the documents it requested for its case against the regulator.
Companies can exempt themselves from liability arising from employees’ theft
Law firms comment on the significance of the Constitutional Court’s judgment for exemption clauses in agreements.
Is a long delay between the notice of intention to debar and the debarment procedurally unfair?
FNB debars consultant who issued unauthorised letters stating a company was good for up to R900 million in credit.
FST upholds debarment of rep who committed fraud to buy food for her child
The former bank manager’s actions were driven by desperation, but the FAIS Act is not forgiving, the tribunal says.
Sars has its eye on the application of attribution rules in trusts
Trusts that have failed to comply with the rules are exposed to penalties and fines.
GEPF and other public sector funds ‘will be part of the two-pot system’
How accessibility and seeding will impact members of defined-benefit retirement funds.
