Proposed increase in healthcare accreditation fees
It will cost R59 more to be accredited as a healthcare broker if proposed amendments to regulation 31 of the Medical Schemes Act (MSA) are adopted. The Minister of Health, Dr Joe Phaahla, […]
Compliance and Legislation
FIC publishes draft communications on data privacy and anti-terrorism financing
The Financial Intelligence Centre (FIC) has called for comments on draft public compliance communications that clarify the interplay between the Financial Intelligence Centre Act (Fica) and the Protection of Personal Information Act (Popia) […]
FSCA issues draft guidance notice on remuneration following RA fund transfers
The FSCA has issued a draft guidance notice aimed at clarifying when intermediaries can be remunerated after a pension interest has been transferred between retirement annuity (RA) funds. The draft guidance notice has […]
Moonstone Compliance launches Employment Law Service
As Moonstone Compliance continuously strives to add value to our clients, we are excited to announce the launch of our Employment Law Service, which provides comprehensive advice on managing all aspects of labour […]
FSCA wants to set FAIS Ombud’s compensation limit at R3.5m
The FSCA is proposing to increase the FAIS Ombud’s compensation limit from R800 000 to R3.5 million. In a communication published this week, the FSCA said the proposal is the result of a recommendation […]
Retail Distribution Review proposals will be reworked in Cofi regulations
Pending regulations flowing from the Retail Distribution Review (RDR) will not be processed in their current form but will be incorporated into new regulations that will developed under the Conduct of Financial Institutions […]
Pending cross-sector regulations that may apply to FSPs
The FSCA has provided an update on how it is progressing with a number of regulatory frameworks that will apply across the financial services sector, including to FSPs. The details are contained in […]
Debarments: tribunal clears up ‘confusion’ about filing an application while legal proceedings are still pending
A decision by the Financial Services Tribunal (FST) last month should clear up any potential confusion over whether a reconsideration application can be brought by a representative who is still embroiled in litigation […]
National Treasury publishes final amendments to regulation 28
Retirement funds will be able to invest up to 45% of their assets in infrastructure from 3 January next year, when the amendments to regulation 28 of the Pension Funds Act take effect. […]
CCMA boldly declares vaccine mandates unconstitutional, but employers shouldn’t panic
In another recent mandatory vaccination award involving Baroque Medical (Pty) Ltd, the Commission for Conciliation, Mediation and Arbitration (CCMA) has found against the employer in an unfair dismissal dispute relating to an employee’s […]
High Court orders Sasria to pay up for equipment lost during flooding
The High Court in Johannesburg recently ordered the South African Special Risk Insurance Association (Sasria) to settle a claim by a company that lost its equipment when a colliery was flooded during labour […]
‘Instant loans’ sign was sufficient grounds for investigation by the National Credit Regulator
A sign outside a microlender’s premises advertising “instant loans” and an employee’s verbal information that interest of 30% a month was charged on short-term loans were reasonable suspicion for the National Credit Regulator […]
Information Regulator unhappy with the flood of unsolicited direct marketing
The Information Regulator says it is concerned that consumers continue to be bombarded with unsolicited direct marketing messages that do not comply with the Protection of Personal Information Act (Popia), and it will […]
Sars has its eye on South Africans working abroad
The 2022 tax season is around the corner, and it will be one of the shortest to date. The period to submit tax returns will be open from 1 July to 24 October […]
SCA thwarts man’s bid to keep assets from his wife during divorce trial
A wealthy Durban businessman has failed in his bid to “hide” more than R5.5 million from his wife. He had hastily established a trust and repaid his father an old debt. The Supreme […]
CMS proposes changes to the appointment of brokers by employers on behalf of employees
The Council for Medical Schemes (CMS) is proposing to introduce new guidelines on the appointment of brokers by employers on behalf of employees. In a circular published this week, the CMS said it […]
Moonstone warns of fake regulatory exam certificates
Scammers continue to defraud people by claiming they can issue certificates – for a fee, of course – for the FSCA’s regulatory exams. In September last year, we exposed individuals operating on social […]
