The FSCA has withdrawn its request for retirement funds to provide it with information, every three months, about their paid-up members and unclaimed benefits. Read: Funds given until 6 May to submit information […]
The FSCA has proposed amending the Short-term Insurance Act regulations to exempt independent intermediaries from commission clawbacks when a policy is voided because of material misrepresentation or non-disclosure by the policyholder. Regulation 5.4 […]
A new Code of Practice reaffirms employers’ right to introduce vaccine mandates and tightens the grounds on which employees may refuse to be vaccinated. Employment and Labour Minister Thulas Nxesi gazetted the “Code […]
On Monday, the Labour Court in Johannesburg delivered its first judgment on when a Covid vaccination policy in a workplace will be lawful. In December 2021, a company called Ernest Lowe sent a […]
The Commission for Conciliation, Mediation and Arbitration (CCMA) has ruled that the dismissal of an “anti-vaxxer” was fair but in the same breath found the employer to be at fault for sending him […]
The FSCA is ramping up its efforts to trace unclaimed benefits and wants retirement funds and administrators to provide it with information, every three months, about their paid-up members, in addition to information […]
The Financial Services Tribunal has set aside the debarment of a representative and declined to refer the matter back to the FSP for reconsideration, because the tribunal had no confidence that the FSP […]
The FSCA has published a draft conduct standard on the requirements for providing a benchmark in South Africa. This follows the publication in September last year by National Treasury of draft regulations that […]
The FSCA has outlined how it intends to promote transformation in the financial sector, both now and, more importantly, once the Conduct of Financial Institutions (Cofi) Bill becomes law. This week, the Authority […]
The FSCA is exempting FSPs, key individuals and representatives who operate in the credit life and funeral insurance space from some of the Fit and Proper Requirements. The reason for the exemptions is […]
The Appeal Board of the Financial Intelligence Centre (FIC) has upheld the effective penalty of R1 065 924 imposed on Gauteng-based Truck World for failing to report transactions exceeding the cash threshold of R24 999.99. […]
The Financial Services Tribunal’s decision in January to set aside the debarment of a financial planner highlights the importance of FSPs adhering to the requirements of section 14 of the FAIS Act and […]
The FSCA has jointly fined Pioneer FX (Pty) Ltd and Quintin Moorcroft for rendering financial services without authorisation. It has also debarred Moorcroft for 10 years. The Authority said, as a result of […]
The government proposes to address anomalies in the Income Tax Act to ensure that members of pension and provident funds are treated alike, according to proposals announced in the Budget Review. The anomalies […]
The government intends introducing several amendments to legislation that will affect exchange control in general and crypto assets in particular. The 2022 Budget Review set out the following proposals that will ease the […]
The government intends to amend section 7B of the Income Tax Act to cater for performance-based variable remuneration, the 2022 Budget Review says. In terms of the Act, “variable remuneration” includes: Overtime pay, […]
National Treasury intends to close an anomaly in the Income Tax Act that enables individuals whose tax residency ceases to double dip into certain exemptions and exclusions, according to the 2022 Budget Review. […]
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