Outsurance Life has proposed that long-term insurers that provide risk products should be excluded as accountable institutions, saying the increased cost of compliance was not proportionate to the low risk these products posed […]
Hot on the heels of its proposed amendments to Joint Standard 1 of 2020 pertaining to the significant owners of FSPs, the FSCA has asked for reports from certain FSPs and collective investment […]
The FSCA has concluded an enforceable undertaking with the ANC Staff Provident Fund on how it is clear the reported R85 million in arrear contributions. The fund is a defined contribution fund with […]
When asked by the host on a talk show what the African equivalent of the Spanish word mañana is, the guest from our continent answered: “We do not have any word that describes […]
The limitation on companies setting off any assessed losses against taxable income is about to hit home. Companies that are making a loss will have to find the cash to pay tax on […]
National Treasury’s acting director-general, Ismail Momoniat, says mechanisms need to be put in place to ensure that the regulators are doing their job in respect of suspicious financial transactions, noting that Treasury does […]
Nedbank has blamed delays in the promulgation of amendments to the Financial Intelligence Centre Act (Fica) for the effective fine of R20 million and other administrative sanctions imposed by the Prudential Authority (PA) […]
The past 30 years have seen a significant move away from employer-sponsored standalone retirement funds to employers participating in commercial umbrella funds. The trend has been driven by the regulator wanting fewer retirement […]
The FSCA is proposing that significant owners of FSPs become subject to the honesty and integrity requirements of Joint Standard 1 of 2020, saying the amendment is required urgently to prevent South Africa […]
A failure to adhere to the basic procedures set out in the FAIS Act resulted in the Financial Services Tribunal (FST) instructing an FSP to have another go at debarring a representative who […]
A Toyota Land Cruiser valued at more than R1.2 million found its way into the hands of the general of a rebel army in the Democratic Republic of the Congo (DRC) after a […]
Standard Bank and its lawyers have come under fire from a Durban High Court judge for taking shortcuts in an application against a defaulting homeowner. The bank sought default judgment and an order […]
Moonstone recently reported on the regulatory action the FSCA has taken against past and present trustees of the Private Security Sector Provident Fund (PSSPF) after concluding its three-year investigation into the board. For […]
For the first time since it was established in 2016, the Information Regulator (IR) will be able to enforce its powers and provide an effective remedy to complainants whose right to privacy and […]
In a blow to foreign law graduates who have lived, studied and completed articles and pupilage in South Africa, the Constitutional Court has ruled that a section of the Legal Practice Act (LPA) […]
Another property syndication determination has been sent back to the FAIS Ombud, with the Financial Services Tribunal (FST) stating that the ombud had, among other things, not dealt fairly with the evidence of […]
The Financial Intelligence Centre (FIC) has published a draft directive that requires accountable institutions to screen their employees for competence and integrity, as well as scrutinise employee information against the targeted financial sanctions […]
