Two defective intention notices scupper representative’s debarment
FNB argued the Tribunal should accord greater weight to the severity of the rep’s misconduct than to ‘procedural mis-steps’.
Compliance and Legislation
High Court rules on regulator’s bid to stop prepaid healthcare vouchers
The Registrar believes the products sold by Netcare Plus and Discovery Health constitute the business of a medical scheme.
Must a retirement fund impose a timeline on an employer to institute civil proceedings?
More than a year passed between the employer indicating that it reserved its right to withhold a former employee’s withdrawal benefit and instituting civil proceedings against him.
Tribunal: a CCMA case has nothing to do with debarment
The FST emphasises that labour-related and FAIS-related matters are distinct.
Is your website using the correct PAIA forms?
Some private and public bodies are still using the forms that were repealed two years ago, the Information Regulator says.
Share buybacks have a place, but taxpayers should tread carefully
The South African Revenue Service has introduced measures to prevent abuse in share buyback arrangements.
Rep’s version of accessing client’s account ‘doesn’t ring true’, says Tribunal
The FST questions why he would take a call on his private cellphone from a friend of a friend and access confidential information without authority.
S&P Global in SA contravened requirements to disclose withdrawal of a credit rating
The contravention came to light during an on-site inspection by the FSCA.
Any parent is entitled to four months’ parental leave, rules High Court
The Court declared sections of the Basic Conditions of Employment Act and the Unemployment Insurance Fund Act unconstitutional for unfairly discriminating against mothers and fathers, and surrogate and adopting parents when it comes to ‘maternity leave’.
National Treasury proposes more changes to the two-pot retirement system
Delaying the implementation date and raising the seeding cap are among the announcements and clarifications.
What consumers should know about vehicle repossessions
The Ombudsman for Banking Services sets out the legal position regarding prescription, repossession, and a voluntary surrender.
FSCA to verify information about the significant owners of FSPs, CIS managers
The fingerprints of affected individuals may be taken to check information such as their qualifications and criminal records.
FIC issues guide on the definition of a ‘legal practitioner’
Public Compliance Communication 47A also provides examples of money laundering and terrorist financing risk indicators for legal practitioners.
Pension Funds Adjudicator proposes 35% increase in levy for 2024/25
The Minister of Finance will have to submit the increase to Parliament for approval because it exceeds the Consumer Price Index.
The lowdown on living annuity income payments to foreign bank accounts
Whether living annuity income can be paid into your foreign bank account will depend on your tax residency, the Sarb and Sars requirements, and your insurer’s processing procedures.
Discovery wins in dispute with RAF over medical scheme members’ claims
Constitutional Court refuses to grant the Fund leave to appeal against a judgment declaring its directive unlawful.
Claim for interim maintenance of R128 298 a month is excessive, says judge
The High Court also rejects a wife’s claim for R300 000 to pay for renovations and furniture, saying Rule 43 does not provide for lump-sum payments.
