As attention shifts to Parliament’s processing of the omnibus “anti-grey-listing bill”, the equally important amendments to the schedules to the Financial Intelligence Centre Act (Fica) have probably slipped from public view. However, the […]
Informal dispute resolution mechanisms are notoriously hesitant to become involved in complaints related to fund performance. The Ombudsman for Long-term Insurance emphatically states on its website that it does not consider a complaint […]
Sars will now ask for specific supporting documents targeted at addressing particular risks.
More clarify is required on certain aspects, including the implications for provident fund members over 55 and the proposed retrenchment benefit.
It is clear that the FSCA does not lightly withdraw an asset manager’s licence in view of the possible consequences for investors, yet there comes a time when there appears to be no […]
The Financial Services Tribunal (FST) has told the FSCA to reconsider the penalty of R4 000 a day it imposed on Akani Retirement Fund Administrators in 2020 for not submitting reports timeously. The total […]
The National Assembly’s Standing Committee on Finance has announced the deadline for written submissions on the General Laws (Anti-Money Laundering and Combating Terrorism Financing) Amendment Bill, which amends five pieces of legislation. Read: […]
A representative who failed to attend his debarment hearing was also a no-show when his reconsideration application was heard by the Financial Services Tribunal (FST). The representative’s ground for reconsideration was that he […]
On Monday, we published an article about a case where the “breakaway kids” used the FSP’s client data to feather their potential future nest. Read: Representatives used FSP’s client info to obtain quotes […]
Financial Services Tribunal upholds their debarment, saying ‘filching’ client information is not only a contractual issue.
The FSCA is taking a number of steps to encourage retirement funds to invest in green and other ESG investments.
The SA Reserve Bank will shortly issue a draft sketching an ESG disclosure framework for the financial services organisations that it supervises.
Whistleblower asserts that members’ money was stolen, although a forensic investigation found no evidence of this.
Adjudicator said the fund was ‘wrong’ to rely on the fact that the sons were not financial dependants.
The FSCA has proposed establishing a single central unclaimed assets fund into which all unclaimed assets should be transferred. This is one of 13 recommendations in its discussion paper on unclaimed assets, which […]
An estimated R88.56 billion in unclaimed assets are held by institutions across the financial sector. However, the FSCA says the amount might be far higher because there is no common understanding of what […]
National Treasury has “loosened the lids” on the pots in the two-pot retirement system, agreeing to amend the draft legislation so that fund members will be able to access the savings they accumulated […]
