Constitutional Court overturns ‘deeply disturbing’ retirement fund rule judgment
The decision clarifies the application of an amended rule to the calculation of a withdrawal benefit that accrued before the amendment was approved and registered.
Compliance and Legislation
‘Unacceptable’ delay in prosecuting hedge fund manager, judge says
Evercrest Capital collapsed 16 years ago after it incurred a huge loss trying to short Sanlam’s shares.
FSCA’s cautions and warnings to the investing public
Use the online search facility on the Authority’s website before conducting financial services business with anyone.
Significant Santam legal victory in dispute over vehicle storage costs
The insurer was entitled to provide security for the disputed balance of the storage costs to have the motor vehicle released and stop incurring further charges.
Tribunal rejects debarred FNB representative’s ‘prevailing practice’ defence
No evidence that staff were instructed to verify prospective clients’ addresses using blank letters provided by the municipality, FST finds.
‘Sensible ruling’ on the cession of a loan account to a special trust
Binding Private Ruling addresses the donations tax and CGT consequences resulting from the beneficiary of a special trust ceding his loan account against the trust to that trust.
Sars publishes final provisions for diesel refund for food manufacturers
The most notable are changes to the definition of ‘foodstuffs’, as well as the requirements for applying for registration and claiming refunds.
PA publishes draft amendments to the commercial paper exemption notice
One of the proposals is to reduce the term structure of commercial paper issuances.
Here are your options if you owe Sars money
Choosing the wrong one could close the door to the dispute resolution process.
October deadline for financial sector B-BBEE compliance reports
Here is a guide to the information that must be submitted by each category of enterprise.
FSCA investigating stokvel following tip-off from a whistleblower
Members of United African Stokvel complain about outstanding pay-outs.
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.
