RAF ordered to pay medical expense claims covered by medical schemes
Judge says directive was a ‘flagrant disregard’ of the RAF Act and a ‘hopeless undermining’ of the Constitution.
Compliance and Legislation
National Council of Provinces finalises amendments to Fica schedules
No carve-out to accommodate clothing retailers’ concerns about exclusion or compliance costs
Fisa makes urgent submission to Parliament on ‘beneficial ownership’ relating to trusts
It says the amendment bill imports a foreign concept that is in conflict with South African trust and property law.
High Court orders unlicensed brokerage to repay client €600 000 plus interest
Ruling provides clarity on the licensing requirements for local agents of foreign providers.
Court confirms order for reinstatement of insurance salesman fired for gross insubordination
He was alleged to have disrespected the CEO during a staff meeting called to address the team’s underperformance.
Supreme Court of Appeal rejects bid to overturn insurers’ liquidation
Did section 54(5) of the Insurance Act and the provisional curatorship orders preclude the final liquidation orders?
Did debarment remorse lead to amended certificate of service?
Tribunal asked to rule on the impact of a labour dispute settlement agreement on an FSP’s debarment decision.
What crypto asset providers need to know about licensing, regulation
Which entities are included in the FSCA’s declaration, the transitional arrangements, and the conditions attached to the exemptions.
Why the FSCA brought crypto assets within the regulatory net
Not much can be done to protect people who fall for get-rich-quick schemes
Unpacking the proposed regulatory exemptions for crypto FSPs
The exemptions apply to crypto FSPs, their key individuals and representatives, and crypto asset supervised representatives
Minister of Finance raises Fica cash reporting threshold
Period within which cash transactions must be reported is also extended
FAIS Ombud told to reconsider decision in case involving ambiguous policy wording
Insurer argues that ‘days’ means ‘normal days’, but the Financial Services Tribunal does not agree.
Finance committee chairperson takes aim at Intellidex report ‘canvassing’ for SA to be grey-listed
The chairperson of the National Assembly’s Standing Committee on Finance (Scof) this week sharply criticised “a section” of the business community for publishing a report suggesting there is an 85% probability that South […]
Changes to Employment Equity Act mean less red tape for small businesses
Amendments to the Employment Equity Act (EEA) will change the definition of a “designated employer” to restrict the application of sections of the Act to a reduced group of employers and relieve some […]
Guidance for accountable institutions on the risks of financing weapons of mass destruction
FIC makes recommendations on the adoption of a risk-based approach to mitigate the risk of proliferation financing.
Amendments could result in companies moving their primary listing, says JSE
The proposed “beneficial owner” disclosure and reporting requirements for listed companies could result in companies moving their primary listing from South Africa to other jurisdictions, the JSE has told the National Assembly’s Standing […]
New deadline to comment on anti-grey-listing bill
The National Assembly’s Standing Committee on Finance (Scof) has extended to 25 October the deadline for submitting comments on the omnibus bill aimed at preventing South Africa’s grey-listing next year. On Tuesday, the […]
